3 February 2026

SWEN Capital Partners announces the final closing of its SWEN Territoires Innovants 4 fund

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SWEN Capital Partners announces the final closing of its SWEN Territoires Innovants 4 fund

SWEN Capital Partners, a leading player in Responsible Investment in private markets, announces the final closing of SWEN Territoires Innovants 4, the fourth vintage in its range dedicated to supporting growing French SMEs and mid-sized companies (PME/ETI). With an investment capacity of €200 million, this vehicle continues in the footsteps of previous vintages and supports the economic development of regions in promising sectors such as healthcare, energy transition, and decarbonization.

The strategy draws on the recognized expertise of the multi-strategy Private Equity team, led by Laurent Ghilardi. Backed by leading institutional investors — including UMR, Macif, Suravenir, MAIF, Matmut, and Bpifrance — the Territoires Innovants range has raised more than €550 million across four vintages. To date, it has completed more than 120 transactions, including 28 co-investments, 70% of which were carried out in the regions, and contributed to the creation of more than 10,500 jobs in 2024.

Through this range, SWEN Capital Partners has also supported the creation of around twenty new management companies and business lines, as part of its commitment to backing emerging teams (“first-time teams / first-time funds”).

SWEN Territoires Innovants 4, now almost fully committed, has completed 31 transactions in two and a half years (7 secondaries, 16 primaries, and 8 co-investments). It raised €163 million at its final closing, an increase of more than 20% compared to the previous fund. The fund is targeting a net IRR above 12% and a net multiple of 1.7x (a target already exceeded for the first two programs).

Before the end of its deployment period, expected by summer 2026, the fund aims to complete three more new transactions, ultimately financing more than 300 French SMEs and mid-sized companies, with investment tickets ranging from €5 to €10 million.

The launch of the next vintage is planned for 2026.

We would like to thank all of our investors for their renewed trust. Their ongoing commitment is essential to sustainably supporting French SMEs and mid-sized companies and accompanying their growth across the regions. This fourth vintage reflects the strength of our relationships, the relevance of our strategy, and our collective ability to finance companies that are genuinely transforming the local economy. Without the steadfast support of our partners, this momentum would not be possible.

Jérôme Delmas
CEO of SWEN CP

Indeed, multi-strategy Private Equity is a key lever for accelerating the ecological and social transition. This transition can only succeed if it is rooted in the regions, close to on-the-ground realities, available resources, and local needs. Regions are genuine laboratories of innovation: renewable energy, decarbonized mobility, the circular economy, and new forms of production. It is on the ground that the concrete solutions of tomorrow’s transition are designed and tested.

Laurent Ghilardi
Managing Director of the multi-strategy Private Equity activity at SWEN Capital Partners

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