Auxo Firm Directory · Independent Research Profile

Andera Partners

Andera Partners presents a multi-strategy investment platform focused on European SMEs and mid-caps, healthcare and life sciences, green infrastructure, and selected growth and buyout situations.

Key takeaway

What stands out about Andera Partners

Andera Partners publicly describes multiple investment routes, including growth and buyout equity, mezzanine financing, life-sciences investments, green infrastructure and co-investments, with strategy-specific revenue, geography and investment criteria.[1][2][3][4][5][6][9][10]

What does Andera Partners invest in?

Andera Partners is an asset-management firm specialising in private equity. It states that it manages €6 billion, has supported 377 companies over more than 20 years and has 131 professionals. Its legal-information page identifies the firm as a société par actions simplifiée under French law and states that its core business includes management of investment funds in Europe.[1][6] Andera Partners presents six investment strategies: andera Life Sciences, andera MidCap, andera Expansion, andera Acto, andera Infra and andera Co-Invest. The firm also describes support covering organic and external growth, international development, innovation, recapitalisation, corporate governance, acquisitions, digitalisation, human capital, operational improvement and financing. In 2025, the firm reported 22 new investments, 58 external growth operations, more than €5 billion in assets under management and €1.2 billion raised.[1][2][9]

Owners evaluating a financial buyer can compare the offer with independent valuation analysis, understand how acquirers approach transactions through Auxo’s buy-side M&A process guide, and consider whether a full or partial sale best fits their objectives.

Public size / criteria information
Andera Partners states that its European SME and mid-cap strategies target companies with annual revenues between €10 million and €500 million. Published strategy-level investment ranges run from €10 million to €150 million for andera Acto mezzanine financing, €15 million to €60 million for andera Life Sciences equity investments, €10 million to €40 million for andera Infra equity investments, €15 million to €40 million for andera Expansion equity financing, €40 million to €120 million for andera MidCap equity financing, and €10 million to €20 million for andera Co-Invest equity financing. Terra Nea is identified with an investment range of €1 million to €5 million.[2][3]

What should a business owner evaluate before considering a transaction with Andera Partners?

An owner evaluating Andera Partners would need to identify the relevant strategy against the company’s revenue, sector, geography and capital requirements. The published routes span majority or minority growth-capital, OBO/MBO and spinoff or carve-out situations, mezzanine financing, life-sciences equity, infrastructure and co-investment. Owners should request confirmation of ownership expectations, governance rights, management rollover, leverage, valuation methodology, financing terms, expected investment horizon and exit process for the proposed transaction.[2][3][4][5]
01

Which Andera Partners strategy would evaluate the company, and what current revenue, EBITDA, equity-investment or financing thresholds apply

Andera Partners publishes multiple strategies and different revenue and investment ranges, including a general €10 million to €500 million revenue band and a separate €100 million to €250 million MidCap range.[1][2][3]
02

Would the proposed transaction involve majority equity, minority equity, mezzanine financing or co-investment capital

Andera MidCap states that it takes majority or minority stakes, while the platform separately identifies mezzanine financing and co-investment strategies.[2][3]
03

What governance rights, board composition, reserved matters and management rollover would be expected

The public strategy materials identify majority and minority investments and support for corporate governance, but they do not set out transaction-specific governance or rollover terms.[2][3]

What companies does Andera Partners target?

Andera Partners states that its European SME and mid-cap strategies target companies with annual revenues between €10 million and €500 million. Andera MidCap separately identifies target company revenue of €100 million to €250 million and investment amounts of €40 million to €120 million per company. Its published strategy-level ranges include €15 million to €40 million for andera Expansion, €40 million to €120 million for andera MidCap, €10 million to €150 million for andera Acto, €10 million to €20 million for andera Co-Invest, €15 million to €60 million for andera Life Sciences and €10 million to €40 million for andera Infra; Terra Nea is identified at €1 million to €5 million.[2][3] Publicly stated themes include therapeutic and medical innovation, healthcare and life sciences, European SMEs and mid-caps, niche industries, B2B services and energy-transition infrastructure. Andera Infra identifies renewable energy production, sustainable mobility and green data centres as investment areas.[2][4][10] Andera Partners states that it invests in Europe and the United States. Its listed offices are in Paris, Munich, Antwerp, Milan, Madrid and Frankfurt. Andera MidCap identifies France and neighbouring countries as its investment region, while Andera Infra focuses on Europe, mainly France.[2][3][4][5][7] Andera Partners operates a multi-strategy platform. Its public materials describe external growth operations and support for acquisitions.[1][2][9] The official portfolio page lists Sotralu and Sabena Aerospace as andera Expansion companies in portfolio dated 09.2026. It lists Plasseraud IP as an andera Acto company in portfolio dated 06.2026, and Rivermark Medical as an andera Life Sciences company in portfolio dated 05.2026. Alveus Therapeutics and Spiro Medical are listed as andera Life Sciences companies in portfolio dated 01.2026.[5] The official portfolio records identify recent companies and their strategy labels and portfolio dates, including Sotralu, Sabena Aerospace, Plasseraud IP, Rivermark Medical, Alveus Therapeutics and Spiro Medical. These entries are presented as companies in portfolio; the portfolio page does not disclose transaction value, ownership percentage or purchase consideration for the named entries.[5]

What is not clear from Andera Partners's public investment criteria?

The investment portfolio page lists dates, strategy labels, portfolio status and business descriptions for named companies but does not disclose transaction value, ownership percentage or purchase consideration for those entries. The legal-information page identifies the French corporate form and RCS number but does not state a current AMF authorization number or current regulator-registration status.[5][6]

Questions to ask when evaluating Andera Partners as a buyer or investment partner

Which Andera Partners strategy would evaluate the company, and what current revenue, EBITDA, equity-investment or financing thresholds apply?
Andera Partners publishes multiple strategies and different revenue and investment ranges, including a general €10 million to €500 million revenue band and a separate €100 million to €250 million MidCap range.[1][2][3]
Would the proposed transaction involve majority equity, minority equity, mezzanine financing or co-investment capital?
Andera MidCap states that it takes majority or minority stakes, while the platform separately identifies mezzanine financing and co-investment strategies.[2][3]
What governance rights, board composition, reserved matters and management rollover would be expected?
The public strategy materials identify majority and minority investments and support for corporate governance, but they do not set out transaction-specific governance or rollover terms.[2][3]
How would Andera Partners evaluate external growth, acquisitions or international expansion?
The firm publicly describes support for acquisitions, external growth and international development, and reported external growth operations in 2025.[2][9]
What leverage, pricing, amortisation, warrants or other financing terms would apply where mezzanine capital is considered?
Andera Acto is identified with mezzanine financing and a published investment range. Transaction-specific terms should be requested.[2]
What is the expected investment horizon and exit process?
The strategy and portfolio pages establish investment routes and portfolio activity but do not set out an expected investment horizon or exit process for a prospective transaction.[1][5]
Which Andera Partners legal entity and fund would make the investment, and what current regulatory status applies to that entity?
The legal-information page identifies Andera Partners’ French corporate form and RCS number but does not state a current AMF authorization number or current regulator-registration status.[6]

Sources & research notes

Public-source research
  1. Official website / firm overview
  2. Services / capabilities
  3. Investment approach
  4. Industry / market focus
  5. Geography / market coverage
  6. Structure / regulatory context
  7. Geography / market coverage
  8. Geography / market coverage
  9. Investment strategy
  10. Investment strategy
Prepared and reviewed by: Auxo Capital AdvisorsEvidence standard: Public-source verification

How this profile was researched

Auxo profiles are prepared from publicly available primary and authoritative sources and reviewed for entity identity, factual support and disclosure consistency. When a fact cannot be supported by the reviewed public record, the profile identifies it as something to confirm directly rather than inferring it.

Independent profile & regulatory context

Independent research profile

This profile was prepared by Auxo Capital Advisors from publicly available information believed to be reliable and is provided solely for informational and educational purposes. It is not an endorsement, recommendation, ranking, solicitation, or representation regarding the profiled firm, its services, qualifications, transaction experience, regulatory status, financial condition, or suitability for any particular person, company, transaction, or investment.

Information obtained from third-party and public sources may be incomplete, inaccurate, outdated, or subject to change, and Auxo Capital Advisors makes no representation or warranty, express or implied, as to its accuracy, completeness, or timeliness. Readers should conduct their own independent diligence and consult appropriate professional advisers before engaging any advisor, intermediary, investor, lender, acquirer, or other transaction counterparty.

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