Astorg
Private equityParis · Growth–Late Stage · 46 people tracked
Also known as ASTORG ADVISORY SERVICES · ASTORG ASSET MANAGEMENT SARL · ASTORG PARTNERS
Find your way into Astorg
2,458 people in our graph share verified history with the Astorg team — schools, employers, funds. One of them is your warm intro.
Investment thesis
Astorg positions itself as a private equity investor that emphasizes listening, dialogue and alignment between management and shareholders as the foundation for value creation. Operating from offices across Europe and the US, the firm builds long-term relationships and specializes in software, healthcare, business services and technology-based industrial companies wherever they are located. It runs generation buyout funds (currently its 8th), citing a 27% annualized return and roughly €23-24bn in assets under management. Astorg describes a culture rooted in entrepreneurship, fairness, humility and substance, working with trusted entrepreneurs and management teams to help them reach their growth goals.
Source: firm website, verified Sep 15, 2026.
Team · 46 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 17 of 38 portfolio companiesEnterprise Software ×8Advanced Manufacturing ×7Healthtech ×6SaaS ×6AI & Machine Learning ×5Biotech ×5Medical Devices ×4New Materials ×4
HQs:United Kingdom×3United States×3Belgium×1France×1
Investments · 38 tracked
founders shown can be your intro path
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-investorsBridgepointAdelieInsight 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)inErik Bailey(Chief Information Officer)inBlair Flicker(Vice President and Assistant Secretary)
BoardRobert Goodman(Director)inPeter Sobiloff(Secretary)
Co-investorsBessemer Venture 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
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
Provider of business sustainability ratings, intelligence and collaborative performance improvement tools for global supply chains.
Co-investorsCVC Asia Pacific (Japan) Kabushiki KaishaGP Bullhound
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
Industry leader in mud logging, drilling support and formation evaluation.
Innovative OTC pharma company with leading positions in Europe and the US.
World-leading manufacturer of calcium aluminate cements, now part of Imerys Aluminates.
Global leader in advanced materials offering specialty copper alloys used as critical components across various systems and end-markets.
Co-investorsCinven
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
Global provider of consumables and equipment for in-vitro fertilization procedures serving hospitals, clinics and IVF labs across 115+ countries.
Developer and manufacturer of photo sensor technologies for a global network.
Co-investorsEquistone Partners Europe
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 Associates
Provider of customer relationship solutions.
Co-investorsAltur InvestissementCharterhouse Capital PartnersKaristaInsight Partners
Portfolio news
latest coverage across their companiesLinxens · biometricupdate.com · Jun 1, 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 36 tracked investments.
- What stage does Astorg invest at?
- Astorg invests at the Growth, Late Stage stages.
- What sectors does Astorg focus on?
- Astorg focuses on AI & Machine Learning, Cloud Computing, Healthtech.
- 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 Karista, Bessemer Venture Partners, GP Bullhound, among 13 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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