France-based venture capital and private equity firm Quadrille Capital reached the €65 ($72.9m) first close of its first fund yesterday after securing capital from backers including insurance and financial services group AG2R-La Mondiale.
The fund’s limited partners also include French state-owned investment bank BPIfrance, Dutch state-owned bank ABN Amro, insurance firm Prévoir Group and undisclosed European Family Offices.
Quadrille was formed in 2001 as Quilvest Ventures, the technology and investment subsidiary of wealth manager Quilvest, before becoming independent and renaming itself in 2012.
Quadrille is targeting €100m for the fund, its first innovation-focused fund, and has set a hard cap of €150m. It currently has about $500m under management across portfolio companies and external venture capital funds.