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Eurazeo, through its Elevate team, has announced the first close of Eurazeo PME V at over €1 billion in commitments — matching the size of its previous vintage PME IV, which closed at approximately €1 billion in 2022. The first close was announced on May 20, 2026, with the fund already more than 10% deployed across two initial investments and targeting a portfolio of 15 or more companies.
The first close reflects continued investor confidence in Eurazeo’s Elevate team and its ability to back high-quality, fast-growing European mid-market technology and services companies. Notably, the share of blue-chip international investors has more than doubled from one vintage to the next — international investors now account for 60% of total commitments, underscoring the growing global recognition of Eurazeo’s European mid-market strategy.
Pierre Meignen, Managing Partner and Head of Elevate, expressed gratitude for the renewed confidence of the firm’s top-tier LP base, which has demonstrated strong support through this first close that already matches the size of the previous vintage. He highlighted solid early deployment, strong underlying portfolio performance, and continued progress in executing the investment strategy, noting the fund’s positioning to capture emerging opportunities across technology and services in continental Europe — combining diversification with systematic investor exposure to structural growth themes.
Eurazeo’s Elevate team — approximately 30 investment professionals based in Paris, London, Madrid, and Munich — combines disciplined investment in high-quality, premium, fast-growing companies with a highly hands-on approach to value creation. This includes accelerating the deployment of AI across portfolio companies to drive both revenue growth opportunities and productivity gains, structurally improving margins. The strategy also demonstrates active support for the evolution of business models toward more value-based and usage-driven monetisation.
Fund V’s initial portfolio reflects the Elevate team’s strategy in action across two high-conviction investments.
OMMAX, acquired in 2025, is one of the fastest-growing data analytics and AI consultancies in Europe. Based in Munich, the company serves clients across Europe and is actively accelerating its geographical expansion. As part of Eurazeo’s Elevate buy-and-build strategy, OMMAX has already reached a significant milestone with the signing of its first acquisition: Singulier, a French tech, data, and AI consultancy firm. The strategic combination accelerates OMMAX’s development, establishing it as a leading European data and AI consulting platform.
Nextron Systems, the second seed investment, is a leading German cybersecurity software provider to which Eurazeo’s Elevate team has signed an agreement to acquire a majority stake. Nextron Systems offers a differentiated suite of threat intelligence and forensic detection software products, used by more than 550 customers across 25 or more countries. The transaction marks Elevate’s fifth investment outside France since 2023 and its second in Germany — reflecting the strategy’s ambition to support fast-growing European leaders as they scale internationally.
With over 10% of the fund already deployed across OMMAX and Nextron Systems, and a target portfolio of 15 or more companies, Eurazeo PME V is well positioned to continue building a diversified portfolio of European mid-market technology and services champions. The Elevate team’s combination of AI-driven operational engagement, international expansion support, and selective buy-and-build execution has clearly resonated with a growing base of leading global institutional investors.
Eurazeo is a leading European investment group with €39 billion in diversified assets under management, including €30 billion on behalf of institutional and retail clients through its private equity, private debt, real estate, and infrastructure strategies. The group supports 700 mid-market companies, leveraging the commitment of its 450-strong workforce, deep sector expertise, privileged access to global markets through 15 offices across Europe, Asia, and the United States, and a responsible approach to value creation based on growth. Eurazeo is listed on Euronext Paris (ISIN: FR0000121121).
