Astorg
Private equityParis · Growth–Late Stage · 25 people tracked
Also known as ASTORG ADVISORY SERVICES · ASTORG ASSET MANAGEMENT SARL · ASTORG PARTNERS
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 Aug 25, 2026.
Team · 25 people
from the firm's website
What they invest in
from 16 of 37 portfolio companiesAI & Machine Learning ×5Biotech ×5Healthtech ×5SaaS ×5Advanced Manufacturing ×4Enterprise Software ×3Fintech ×3New Materials ×3
HQs:United Kingdom×1United States×1
Investments · 37 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
Co-investorsBridgepointAdelieInsight PartnersACE & Company
Acturis is a Software-as-a-Service provider for the general insurance market, offering a platform used by brokers, insurers, and MGAs to run their businesses.
FintechInsurTechSaaS
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)Erik Bailey(Chief Information Officer)Blair Flicker(Vice President and Assistant Secretary)
BoardRobert Goodman(Director)inPeter Sobiloff(Secretary)
Co-investorsBessemer Venture Partners
ARMOR-IIMAK designs and manufactures thermal transfer ribbons used for printing traceability data, offering products suited to a range of printing requirements.
Advanced ManufacturingHardwareNew Materials
Commercial insurance brokerage platform focused predominantly on German SME customers.
Avania is a global contract research organization (CRO) focused exclusively on medical technology, offering regulatory strategy, clinical development, and market access and reimbursement services to guide medical devices from concept through commercialization.
BiotechHealthtechMedical Devices
Corden Pharma is a contract development and manufacturing organization (CDMO) that provides end-to-end development, scale-up, and commercial manufacturing services for complex drug modalities.
Advanced ManufacturingBiotechHealthtech
Corialis designs and manufactures aluminium building systems — including windows, doors, curtain walls, facades, interior systems, and outdoor products like screens and pergolas — using a vertically integrated model.
Advanced ManufacturingConstruction TechNew Materials
Cytel provides data science, biostatistics, and analytical services and software for clinical research, helping life science and pharmaceutical companies design and run drug development programs.
AI & Machine LearningBiotechDigital Health
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 develops and provides essential medicines for treating severe pain, addiction, and critical care situations.
BiotechHealthtech
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 manufactures RFID inlays and microconnectors, contributing its industrial production expertise to projects such as Wibatts, which develops RFID tags that degrade and become unreadable when cold chain temperature limits are breached.
HardwareIoTLogistics & Supply Chain
Co-investorsOasis CapitalCVC Capital Partners
Global provider of consumables and equipment for in-vitro fertilization procedures serving hospitals, clinics and IVF labs across 115+ countries.
Opus 2 provides a software platform for law firms, litigators, and arbitration teams to manage case analysis, strategy, collaboration, and preparation, with AI-assisted workflows.
AI & Machine LearningLegalTechSaaS
Developer and manufacturer of photo sensor technologies for a global network.
Co-investorsEquistone Partners Europe
Redslim integrates, harmonizes and governs fragmented external syndicated data into managed data products for enterprises.
AI & Machine LearningData & InfrastructureEnterprise Software
Co-investorsAndera Partners
Solabia is a group active in cosmetics, pharmaceuticals, nutrition, biotechnology, and microbiological diagnostics, developing ingredients and products across these sectors.
BiotechHealthtechNew Materials
Co-investorsTA Associates
Solina develops customized food solutions—ingredient blends, seasonings and formulations—for food manufacturers and other food industry customers, supporting products from concept development through commercial production.
Advanced ManufacturingFoodTech
Provider of customer relationship solutions.
Co-investorsAltur InvestissementCharterhouse Capital PartnersKarista
Xceptor provides a data automation platform for financial institutions that handles data ingestion, extraction, transformation, normalization, and validation across financial workflows.
AI & Machine LearningFintechSaaS
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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