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Naxicap Partners, a leading French private equity firm, has announced the final closing of Naxicap Investment Opportunities III (NIO III), its third-generation mid-cap investment platform. The NIO III platform comprises €2.5 billion in total commitments, including €808 million for the NIO III Flagship Fund alongside continuation vehicles and other bespoke structures designed to provide the firm with flexible long-term capital to support the ambitious growth of its portfolio companies. The closing was announced on May 21, 2026, and brings Naxicap’s total assets under management to €8.3 billion as of March 2026.
The NIO III platform’s structure reflects Naxicap’s commitment to meeting investors’ expectations through proven, tailored investment solutions. The combination of a flagship fund with continuation vehicles and bespoke structures gives the firm the capital flexibility to support portfolio companies across different stages of their growth journeys, from initial investment through to exit.
The fundraising benefited from strong support from long-standing existing investors, including insurance companies, pension funds, funds of funds, and family offices across France, continental Europe, and the United Kingdom. Notably, the firm secured a significant commitment from a major Asian insurance company — a landmark addition that reinforces and further internationalises Naxicap’s investor base, signalling growing global institutional recognition of the firm’s track record and investment approach.
Reflecting its active deal flow and disciplined execution, the NIO III platform has already deployed over €1.5 billion across 20 high-quality assets and is currently 62% invested at the time of closing. This deployment pace underscores the firm’s ability to source and execute transactions across its target markets.
The portfolio reflects Naxicap’s sector-specialist investment strategy, with a well-balanced breakdown across four core verticals. B2B Services accounts for 44% of the portfolio and includes companies such as ITAL Express, Addev Materials, and APF Autoparts. Technology represents 24%, with investments including Weezevent and Solutys. Financial Services accounts for 19%, including Amarris, Fibus, and Astoria. Healthcare makes up the remaining 13%, with Global D as a notable portfolio company.
Naxicap’s investment strategy is anchored in a sector-specialist approach, targeting growth verticals primarily in France, the Benelux region, and the DACH region. The firm focuses on transforming mid-sized companies into international leaders through organic growth initiatives and strategic buy-and-build programmes, investing through majority stakes alongside management teams.
With 68 investment professionals across six offices — Paris, Lyon, Toulouse, Nantes, Frankfurt, and Zurich — Naxicap combines deep sector expertise with a hands-on, disciplined investment approach that positions the firm to identify, win, and build market-leading businesses in its target sectors.
Since 2020, Naxicap has completed 16 exits at an average gross MOIC of 2.7x, generating more than €4.2 billion in proceeds for its investors. This consistent exit track record — achieved across different market cycles — has clearly resonated with both existing and new LPs, contributing to the strong oversubscription that characterised the NIO III fundraise.
Eric Aveillan, CEO of Naxicap Partners, described the closing as a testament to the continued confidence investors place in the firm’s ability to deliver consistent returns. He emphasised that NIO III builds on the foundations of previous platforms and is demonstrating its potential through the construction of a well-balanced and resilient portfolio of high-growth leaders across the firm’s sectors of expertise.
The NIO III fundraising was supported by IRoise Partners, who acted as exclusive placement agent to Naxicap across Europe. Legal counsel was provided by Goodwin Procter.
Naxicap Partners is a leading French private equity firm with €8.3 billion in assets under management. The firm invests in mid-sized companies, partnering closely with management teams to drive sustainable growth and long-term value creation. With 68 investment professionals across Paris, Lyon, Toulouse, Nantes, Frankfurt, and Zurich, Naxicap combines deep sector expertise with a disciplined, hands-on investment approach targeting growth verticals primarily in France, the Benelux, and the DACH region.
