Jolt Capital has agreed to acquire Mirova’s private equity business, expanding its investment platform into the early-growth segment of Europe’s advanced technology market.
The transaction includes the Mirova Environment Acceleration Capital and Mirova Impact Life Essentials funds.
The investment teams dedicated to the two strategies will join Jolt Capital, and the funds’ investment portfolios will transfer as part of the transaction.
Upon completion, Jolt Capital will assume responsibility for managing both funds.
The acquisition expands Jolt’s addressable investment market to advanced technology companies generating between €3 million and €10 million of revenue.
That segment sits immediately below Jolt’s existing deeptech growth funds, which target scale-ups with revenue above €10 million.
Jolt said its proprietary JoltNinja technology platform identifies approximately 20,000 European companies that fit the firm’s investment criteria but remain below the revenue threshold of its existing growth strategies.
The incoming teams will gain access to Jolt’s network of more than 20 value creation experts operating across the U.S., Canada, Europe, Japan, China and Korea.
They will also use JoltNinja for investment sourcing, analysis and portfolio monitoring and gain access to Jolt’s investor relations capabilities.
The investment strategies and impact objectives of MEAC and MILE are expected to remain unchanged.
MEAC invests €5 million to €30 million in early-growth European companies addressing environmental challenges.
MILE invests in unlisted French and European growth companies using technology and innovation to address social and societal challenges.
Jolt Capital was advised by Ambrym Advisory on the transaction.
KEY QUOTES:
“In line with our investment thesis, successive Jolt vintages in deeptech growth have demonstrated both the depth of opportunity and the persistent funding gap in this segment across Europe. At the same time, we have had to pass on a number of high-quality companies that had not yet reached the revenue threshold targeted by our funds. According to JoltNinja, there are approximately 20,000 such companies across Europe that meet our investment criteria but remain just below the maturity level addressed by our current strategies. Our ambition is not to become a venture capital investor, but rather to extend our reach into the adjacent early-growth segment, which is precisely the rationale behind this acquisition. We are delighted to welcome such a high-quality team to Jolt Capital and to further strengthen our contribution to financing the growth of the most promising companies, both in Europe and across other technology-intensive middle powers where we continue to expand our presence.”
Jean Schmitt, Managing Partner at Jolt Capital
“Our team has developed deep investment expertise in companies that have already demonstrated the relevance of their solutions and are entering a pivotal stage in their growth. By joining Jolt Capital, we will be able to continue deploying our strategies while benefiting from the firm’s value creation capabilities and the strength of the JoltNinja platform. This is a particularly exciting opportunity to support our portfolio companies as they scale.”
Marc Romano, CIO of Jolt Capital Early Growth and Managing Partner
