Fundraising Fox
PAI Partners
Private equityParis · Growth–Late Stage · 13 people tracked
Also known as PAI SAS
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Investment thesis
PAI Partners forges strategic partnerships with global companies, founders and families, focusing on four core sectors: Food & Consumer, Business Services, Industrial Goods & Services, and Healthcare. In Food & Consumer, it pursues organic and consolidation-driven growth and revitalises underinvested brands. In Business Services, it backs leading platforms benefiting from structural tailwinds such as regulatory complexity and digital transformation. In Industrials, it acquires sub-sector leaders (building materials, packaging, transportation, industrial services) and applies a transformation playbook emphasising innovation, digitisation and operational excellence. In Healthcare, it drives value through capacity expansion, consolidation and service improvement across services, pharma and medtech.
Source: firm website, verified Sep 29, 2026.
Team · 13 people
from the firm's website & curated
Founder mafia
2 people who came through PAI Partners went on to found or lead other companies.
What they invest in
from 14 of 15 portfolio companiesConsumer ×5Healthtech ×4FoodTech ×3AgTech ×2Cleantech ×2Digital Health ×2Hardware ×2Travel & Hospitality ×2
HQs:Spain×2France×2Canada×1Germany×1United Kingdom×1Italy×1
Investments · 15 tracked
founders shown can be your intro pathBy year:2025 · 12024 · 12021 · 13 dated
Elucid improves healthcare access and outcomes for farming communities in sub-Saharan Africa and Latin America, integrating health programs with agricultural development initiatives.
AgTechDigital HealthHealthtechImpact & Social Good
Samuel Knauss(Managing Director (Product) & Co-Founder)inJulius(Managing Director (Operations) & Co-Founder)
Co-investorsIBB VenturesElea Foundation for Ethics in GlobalizationFINCA VenturesIAG Capital Partners
Nuzoa is a veterinary supplies distributor and business software provider serving pet clinics and livestock farms in the Iberian market.
HealthtechMarketplacesSaaS
Co-investorsAbac Capital Manager S.G.E.I.C.,
Alvest is a group organized around a Supervisory Board, an Alvest Management Committee, and a Steering Committee that oversee its global operations and governance.
CleantechSector Agnostic
Valentin Schmitt(President and CEO)in
PAI Partners is a leading private equity firm that invests in and transforms traditional companies across food & consumer, business services, industrial goods & services, and healthcare sectors, with €25 billion in assets under management globally.
Enterprise Software
Co-investorsBCIDancap Family Investment Office
Arlettie is a fashion-focused e-commerce and membership platform featuring curated designer brands and editorial content.
B2B MarketplacesDirect to ConsumerE-commerceParis, FR
Co-investorsSerenaSerena CapitalSeventure Partners
Audiotonix produces educational kits that combine STEM learning with audio engineering, allowing students to build a USB-powered DJ mixer and develop skills in professional audio technology and production.
Advanced ManufacturingCreator EconomyEdTechHardwareMedia & EntertainmentUK, GB
James Gordonin
Co-investorsEpirisLivingbridgeArdian
Froneri is a premium ice cream manufacturer and distributor operating as the leading pure-play ice cream business globally, holding number 1 or 2 market positions across most markets where it operates.
ConsumerFoodTech
Phil Griffin(CEO)in
BoardIvar Jan Blanken(Director)Alistair James Bolton(Director)Matthew Clive Poole(Director)
Co-investorsBCIGoldman Sachs
Innovad Group develops animal health and nutrition products, operating as a primary producer through four manufacturing centers and 18 legal entities worldwide.
AgTechBiotechHealthtech
Orion provides instruments and automated systems for environmental monitoring of air quality, water quality, and industrial emissions across sectors such as waste, energy, cement, glass, chemical, petrochemical, and pharmaceutical.
CleantechClimate TechHardware
Co-investorsBVVCService Provider CapitalDynamo VenturesNorwest Venture PartnersPICO Venture PartnersTechstars
Roompot is a holiday park operator managing over 200 parks and campsites across the Netherlands, Germany, Belgium, France, and Spain, offering accommodations ranging from premium resorts to casual campsites.
ConsumerTravel & HospitalityGoes, NL
Co-investorsRivean Capital
Uvesco is a Spanish supermarket retail group that operates the BM Supermercados chain of grocery stores.
ConsumerFoodTechRetail Tech
Other
Tracked investments with no reachable website or further public details — typically companies that wound down, renamed, or were absorbed.
Cyrus
Fund performance · per public LP disclosures · 6
as of Sep 2025| Fund | Vintage | Committed | Net IRR | TVPI | DPI |
|---|---|---|---|---|---|
| PAI Europe VIII, L.P.LPs: Washington State Investment Board | 2023 | — | 18.1% | 1.20x | — |
| PAI Partners VIII-1 SCSpLPs: Orange County Employees Retirement System | 2022 | — | 17.8% | 1.20x | — |
| PAI Europe VIILPs: Washington State Investment Board, Pennsylvania Public School Employees' Retirement System | 2019 | — | 13.4% | 1.60x | 0.38x |
| PAI Europe VI, L.P.LPs: Pennsylvania Public School Employees' Retirement System | 2014 | — | 13.3% | 1.63x | 1.33x |
| PAI Europe VI, L.P. Private EquityLPs: Pennsylvania Public School Employees' Retirement System | 2014 | — | — | 1.60x | 1.58x |
| PAI Europe V LPLPs: Florida State Board of Administration | 2008 | — | 7.0% | 1.30x | 1.30x |
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 PAI Partners made?
- PAI Partners has 15 tracked investments, 1 of which have exited, including 2 dated in the last 24 months.
- What stage does PAI Partners invest at?
- PAI Partners invests at the Growth, Late Stage stages.
- What is PAI Partners's typical check size?
- PAI Partners typically writes checks of $108M – $324M.
- What sectors does PAI Partners focus on?
- PAI Partners focuses on Advanced Manufacturing, Biotech, Consumer, Data & Infrastructure, Enterprise Software, FoodTech, Healthtech, Logistics & Supply Chain, Medical Devices, New Materials, Retail Tech.
- Where is PAI Partners located?
- PAI Partners is headquartered in Paris, FR.
- Who does PAI Partners co-invest with?
- PAI Partners most often shares deals with BCI, BVVC, Dancap Family Investment Office, among 6 tracked co-investors.
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