French private equity firm Activa Capital has reportedly held a first close for its latest fund.
The firm has so far secured €200m towards the fund III’s €320m target, according to Private Equity International.
Activa invests in mid-sized French companies with enterprise values of €30m to €200m. The firm, which currently has €500m of funds under management, raised €315m for its Fund II in 2007.
Its portfolio companies include La Maison Bleue, which made the bolt-on acquisition of day-care nurseries Crèches Baby & Co in July last year.
Activa backed the management buyout of La Maison Bleue in December last year. The company said at that time that it aimed to double its size during the next four years and needed a long-term private equity shareholder to accompany its growth both in France and internationally.
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