Beyond AI: Six startup opportunities in Europe
Six sectors where European expertise, needs and regulatory changes are opening up new markets.
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FundStageHQClosedSize €m
- 314.0
Backs growing SMEs in B2B services and technology, mainly in France, driving operational improvement, accelerated growth and ambitious buy-and-build strategies.
- France
- Fund 2
- 6 Oct 2026
- Seven2
- 736.0
Acquires predominantly majority positions in lower-mid-market companies across France, Italy, DACH and Benelux, working with management to accelerate growth and improve performance.
- France, Italy, DACH, Benelux
- Fund 9
- 24 Sept 2026
- Argos Wityu
- 370.0
Partners with entrepreneurs and management teams of lower-mid-market businesses in Benelux, Denmark and Germany, accelerating growth through organic initiatives, buy-and-build and international expansion.
- Benelux, Denmark, Germany
- Fund 8
- 10 Sept 2026
- Mentha Capital B.V.
- 400.0
Buys growing mid-market companies in France, Italy, Spain and Benelux, financing acquisitions and executing systematic buy-and-build strategies in healthcare, business services and niche industries.
- Health & Bio, Business Services, Industrial Tech
- France, Italy, Spain, Benelux
- Fund 6
- 3 Sept 2026
- Siparex
- 710.0
Takes majority positions in mid-market companies mainly in Spain, Italy and Portugal, expanding their production capacity, markets and product portfolios.
- Spain, Italy, Portugal
- Fund 5
- 1 Sept 2026
- Portobello Capital
- 270.0
Backs founder-led, mission-critical Nordic B2B businesses in business services, specialised industrials and technology, pursuing buy-and-build and organic development.
- Nordics
- Emerging manager, Fund 1
- 28 Aug 2026
- Aspira Partners
- 700.0
Makes primary control investments in fundamentally sound DACH businesses, including succession situations and carve-outs, and develops them through strategic acquisitions.
- Generalist
- Companies headquartered in DACH
- Fund 3
- 13 Jul 2026
- NORD Holding
- 335.0
Backs European lower-mid-market healthcare businesses through primary buyouts, operational improvement, international expansion and buy-and-build acquisitions.
- Health & Bio
- Europe
- Fund 5
- 9 Jul 2026
- Mérieux Equity Partners
- 310.0
Takes controlling positions in established Benelux and Danish businesses, supporting owner succession, professionalisation, organic growth and buy-and-build expansion.
- Business Services, B2B Software
- Benelux and Denmark
- Fund 3
- 1 Jul 2026
- Foreman Capital
- 221.3
Buys profitable Norwegian lower-mid-market businesses and develops category leaders through organic expansion, operational transformation and strategic acquisitions.
- Generalist
- Norwegian lower mid-market
- NOK
- Fund 4
- 5 Jun 2026
- Longship
- NOK 2400m
- 808.0
Acquires majority stakes in mid-sized businesses, using organic development and buy-and-build strategies to create international leaders.
- Generalist
- Primarily France, Benelux and DACH
- Fund 3
- 21 May 2026
- Naxicap Partners
- 500.0
Makes primary buyouts of DACH Mittelstand businesses, addressing founder succession and supporting professionalisation and international growth.
- Technology, Health & Bio, Industrial Tech, Consumer
- DACH
- Fund 10
- 13 Apr 2026
- Afinum Management GmbH
- 808.0
Acquires market-leading, often family- or founder-owned European companies providing essential products or services, scaling them into multinational platforms through pan-European consolidation.
- Pan-European
- Fund 2
- 30 Mar 2026
- Fremman Capital
- 230.0
Backs Benelux mid-sized businesses through buyouts, carve-outs, succession situations, operational improvement and buy-and-build strategies.
- Generalist
- Benelux
- Fund 5
- 19 Dec 2025
- VE Partners
- 400.0
Buys French SMEs and mid-cap companies with solid fundamentals and transformation potential, supporting operational improvement and development.
- Generalist
- France
- Fund 3
- 6 Nov 2025
- FCDE
- 226.0
Targets control investments in Italian founder-led and family-owned businesses, supporting them through structured buy-and-build programmes.
- Business Services
- Italy
- Emerging manager, Fund 3
- 1 Nov 2025
- Bravo Invest
- 459.0
Invests in Nordic lower-mid-market technology, business-services and healthcare companies through Axcel’s private-equity ownership model.
- Technology, Business Services, Health & Bio
- Nordics
- 1 Nov 2025
- Axcel
- 625.0
Partners with entrepreneurs and management teams in Benelux and DACH mid-market businesses to improve operations and support sustainable growth.
- Generalist
- Benelux and DACH
- Fund 7
- 31 Oct 2025
- Bencis Capital Partners B.V.
- 275.0
Acquires majority positions in French defence and security SMEs and mid-caps through LBO transactions and supports their growth.
- Defence & Security
- France
- 23 Oct 2025
- Weinberg Capital Partners
- 280.0
Acquires majority stakes in growing French SMEs facing ownership or management transitions and drives value through durable operational transformation.
- Business Services
- France
- Fund 3
- 1 Sept 2025
- Sparring Capital
- 205.3
Invests in Nordic lower-mid-market companies and supports profitable growth and business transformation through active ownership.
- Generalist
- Nordic lower mid-market
- SEK
- Fund 7
- 16 Jun 2025
- Accent Equity
- SEK 2250m
- 600.0
Supports Benelux founder-led businesses through management buyouts, succession transactions, international expansion and buy-and-build strategies.
- Generalist
- Companies headquartered in the Netherlands and Belgium
- Fund 6
- 6 Jun 2025
- Gilde Equity Management Benelux
- 700.0
Acquires majority stakes in Nordic healthcare businesses across pharmaceuticals, medical technology, specialist pharmaceutical services and related healthcare services.
- Health & Bio
- Nordic lower mid-market
- Fund 2
- 3 Jun 2025
- Impilo
Mid-market corporate carve-outs, platform build-ups and complex buyouts of established companies with operational improvement potential.
- Technology, Business Services, Consumer
- Europe and North America; broader strategy page also mentions the UK, continental Europe, North America and Asia
- Fund 5
- 1 Jun 2025
- AURELIUS
- 296.1
Buys established, profitable UK lower-mid-market businesses, using sustainability initiatives, operational improvement and acquisitions to create value.
- Business Services, Technology
- United Kingdom, predominantly regional lower mid-market companies
- GBP
- Fund 5
- 23 Apr 2025
- Palatine
- GBP 254m
- 500.0
Builds Nordic lower-mid-market leaders through organic growth and acquisitions, focusing on technology services, business software and scalable business models.
- B2B Software, Technology
- Nordic lower mid-market
- 26 Mar 2025
- Norvestor
- 430.0
Controls or co-controls European mid-market healthcare, consumer and services companies, using an operator-led model to support growth.
- Health & Bio, Consumer
- Pan-European
- Fund 2
- 1 Mar 2025
- bd-capital
- 300.0
Uses buy-and-build control transactions to scale profitable European companies providing environmental solutions.
- Climate & Energy, Food & Agri, Mobility
- European OECD countries, including Switzerland, the UK and Nordics
- 1 Feb 2025
- Eurazeo
- 337.0
Acquires European businesses and accelerates measurable decarbonisation to improve competitiveness, targeting annual carbon-intensity reductions of at least 7.5 percent.
- Climate & Energy
- European SMEs and mid-sized businesses
- 22 Jan 2025
- Argos Wityu
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