Fundraising Fox
Astorg
Private equityParis · Growth–Late Stage · 51 people tracked
Also known as ASTORG ADVISORY SERVICES · ASTORG ASSET MANAGEMENT SARL · ASTORG PARTNERS
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Investment thesis
Astorg positions itself as a private equity firm centered on 'the art of listening,' building respectful dialogue with management teams to uncover a business's vision and align shareholders with management on value-creating strategies. It operates a generation buyout fund and works long-term with entrepreneurs and management teams it trusts, providing capital, strategic guidance and governance. The firm specializes in software, healthcare, business services and technology-based industrial companies, investing internationally from offices across Europe and the US. It emphasizes collective intelligence, debate and trust, and reports strong historical returns across its funds.
Source: firm website, verified Sep 29, 2026.
Team · 51 people
from the firm's website & curated & public directories
Founder mafia
2 people who came through Astorg went on to found or lead other companies.
What they invest in
from 20 of 40 portfolio companiesEnterprise Software ×10SaaS ×8Advanced Manufacturing ×7AI & Machine Learning ×7Healthtech ×6Biotech ×5Data & Infrastructure ×4Fintech ×4
HQs:United Kingdom×4United States×4Belgium×1France×1
Investments · 40 tracked
founders shown can be your intro pathBy year:2025 · 22015 · 13 dated
Fenergo provides an Investor Portal and Digital Subscriptions platform that manages the investor lifecycle from onboarding through document exchange to subscription execution, with unified investor data, workflows and compliance controls.
AI & Machine LearningEnterprise SoftwareFintechSaaS
Marc Murphy(Founder)in
Co-investorsBridgepointAdelieAquiline Technology GrowthInsight PartnersACE & Company
Redslim is a specialist data management business that helps organizations improve decision-making and efficiency by managing external market data and complex data environments.
AI & Machine LearningData & InfrastructureEnterprise SoftwareSaaS
Co-investorsAndera Partners
Acturis provides digital trading software and solutions for insurance firms serving niche and specialist market segments, from real estate and insolvency to parametric and leisure insurance.
B2B MarketplacesCloud ComputingEnterprise SoftwareFintechInsurTechSaaSUK, GB
David McDonald(Co-founder & Group co-CEO)inTheo Duchen(Co-founder & Group co-CEO)in
Anaqua develops IP management software and services for organizations to manage the full lifecycle of patents, trademarks, designs, and contracts.
Enterprise SoftwareLegalTechSaaSBoston, US
Justin Crotty(CEO of Anaqua)inErik Bailey(Chief Information Officer)inBlair Flicker(Vice President and Assistant Secretary)
BoardRobert Goodman(Director)inPeter Sobiloff(Secretary)
Co-investorsBessemer Venture PartnersNordic CapitalInsight Partners
ARMOR-IIMAK manufactures thermal transfer ribbons in roll format for label printing across industries including logistics, pharmaceuticals, food, textiles, and industrial manufacturing.
Advanced ManufacturingHardwareLogistics & Supply ChainNew Materials
Commercial insurance brokerage platform focused predominantly on German SME customers.
CordenPharma is a contract development and manufacturing organization (CDMO) providing high-quality integrated product solutions to pharmaceutical and biotechnology companies across the complete drug lifecycle.
Advanced ManufacturingBiotechDeep TechHealthtech
Corialis Group designs, manufactures, and distributes aluminum profile systems to fabricators and installers across EMEA.
Advanced ManufacturingConstruction TechNew MaterialsBelgium, BE
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Corsearch provides brand protection investigation services that map illicit networks, identify offline production sources, and prepare enforcement-ready case files for brands facing counterfeiting, diversion, and infringement.
AI & Machine LearningCybersecurityData & InfrastructureEnterprise SoftwareLegalTechSaaSNew York, US
Co-investorsKarma Ventures
Cytel provides software and biometrics solutions for clinical trial design and delivery in the life sciences industry.
AI & Machine LearningBiotechData & InfrastructureDigital HealthHealthtechMedical Devices
Nitin Patel(Co-Founder and Research Lead, Cytel Innovation Center)inCyrus Mehtain
Co-investorsNew Mountain Capital
Ethypharm is a specialty pharmaceutical company that develops and provides injectable medicines focused on Central Nervous System conditions including severe pain and addiction treatment, as well as critical care hospital injectables.
BiotechHealthtechMedical Devices
Denis Delval(President & CEO)inEric Chevalier(Chief People Officer)Roseline Joannesse(Chief Legal, Ethics & Compliance Officer)inFoucauld Ruyant(Chief Financial Officer)inCecile Paillous(Chief Scientific Affairs Officer)inXavier Lasserre(Chief Commercial Operations Officer)in
Independence Products manufactures protective pouches and personal care supplies for patients with chronic catheters, enabling them to shower and perform daily activities safely.
Direct to ConsumerHealthtechMedical DevicesSwindon, GB
Co-investorsBlackstone
Linxens is a manufacturing and technology company operating across Europe, Asia, and the USA, with expertise in product design, engineering innovation, and R&D.
Advanced ManufacturingHardwareIoTLogistics & Supply Chain
Co-investorsOasis CapitalCVC Capital Partners
Megadyne designs and manufactures high-performance power transmission belts and complete belt systems for industrial applications including manufacturing, logistics, and processing.
Advanced ManufacturingEnterprise SoftwareHardwareLogistics & Supply ChainNew Materials
Co-investorsCapvis AG
Solabia is a producer of raw materials including ingredients, active ingredients, culture media, and diagnostic kits for the cosmetics, pharmaceutical, nutraceutical, and biotechnology industries.
Advanced ManufacturingBiotechHealthtechNew Materials
Co-investorsTA AssociatesGoldman Sachs
Third Bridge operates a global expert network connecting clients with domain specialists to access insights on companies, sectors, and regions.
AI & Machine LearningData & InfrastructureEnterprise SoftwareFintechSaaS
Provider of customer relationship solutions.
Co-investorsAltur InvestissementCharterhouse Capital PartnersInsight PartnersKarista
Xceptor provides an enterprise automation platform for financial institutions to manage reconciliation, post-trade processes, and data workflows.
AI & Machine LearningEnterprise SoftwareFintechSaaS
Dan Reid(CTO and Co-founder)inMireille Dyrberg(Chief Executive Officer)in
Co-investorsAlkeon CapitalAltimeter CapitalNorthzoneSequoia CapitalSofina
Other
Tracked investments with no reachable website or further public details — typically companies that wound down, renamed, or were absorbed.
CatMan SolutionDemetraEcoVadisFastmarketsGeoservicesHG MedicalHRA PharmaIPComKerneosLBALebronze AlloysLGCNexpring HealthNormecPhotonisSoficoSteliau
Portfolio news
latest coverage across their companies
Xceptor · fintech.global · Aug 21, 2026
Fenergo · resources.fenergo.com · May 13, 2026
Fund performance · per public LP disclosures · 6
as of Dec 2025| Fund | Vintage | Committed | Net IRR | TVPI | DPI |
|---|---|---|---|---|---|
| Astorg Normec Fund -Project NewtonLPs: Ventura County Employees' Retirement Association | 2024 | — | 35.3% | 1.36x | 0.00x |
| Astorg VIIILPs: Ventura County Employees' Retirement Association | 2022 | — | — | 1.17x | 0.01x |
| Astorg VIILPs: Los Angeles City Employees' Retirement System, Ventura County Employees' Retirement Association, Maryland State Retirement and Pension System +1 more | 2019 | — | 11.2% | 1.51x | 0.48x |
| AstorgVIILPs: Ventura County Employees' Retirement Association | 2019 | — | 10.7% | 1.51x | 0.48x |
| Astorg VILPs: Los Angeles City Employees' Retirement System, Maryland State Retirement and Pension System | 2015 | — | 12.7% | 1.72x | 1.30x |
| Astorg II, L.P.LPs: Washington State Investment Board | 1999 | — | 23.8% | 3.10x | 3.06x |
Source: public limited-partner disclosures (CalPERS, CalSTRS). Net IRR / TVPI / DPI as reported by the limited partner; a fund's early-year IRR is an interim estimate (J-curve).
Frequently asked questions
- How many investments has Astorg made?
- Astorg has 40 tracked investments, including 2 dated in the last 24 months.
- What stage does Astorg invest at?
- Astorg invests at the Growth, Late Stage stages.
- What sectors does Astorg focus on?
- Astorg focuses on Advanced Manufacturing, AI & Machine Learning, Biotech, Cloud Computing, Enterprise Software, Healthtech, InsurTech, Medical Devices, SaaS.
- Where is Astorg located?
- Astorg is headquartered in Paris, FR.
- Does Astorg lead rounds?
- Yes, Astorg leads investment rounds.
- Who does Astorg co-invest with?
- Astorg most often shares deals with Adelie, Insight Partners, Karista, among 18 tracked co-investors.
Media · Podcasts & interviews
featuring the teamJean Raby (Astorg) : «Nous lançons cette année la levée de notre prochain fonds flagship» - YouTube
L'AGEFI · Jean Raby
"Au coeur du Talent" - Épisode 7 : Xavier Moreno, Joel Lacourte & Thierry Timsit, Astorg Partners - YouTube
TERRES DE TALENT · Thierry Timsit
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