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Presentation of the Manager Vitruvian

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The managers of our Vintage

Presentation of the Manager Vitruvian

Published on

12/9/2024

Episode

11

1:56 min

Summary

Vitruvian Partners is a global reference in Growth Equity and Growth Buyout, initially in Europe and then internationally. The firm targets companies with strong organic growth, often resulting from technological or regulatory disruptions, in the technology, healthcare, services and consumer sectors. Its flexible strategy, combining growth equity and buyout, has generated solid performances with an average multiple of 2.6x net and an IRR of 23%. Altaroc Odyssey 2024 has committed to the Vitruvian Investment Partners V fund (€6.5 billion).

Written transcription

Vitruvian Partners is an independent private equity firm whose CEO previously headed the Technology team at Apax Partners. It's a firm I know well as an investor, having invested in their Funds III and IV before joining Altaroc, and which has become a benchmark brand in Growth Equity & Growth Buyout, initially in Europe and now worldwide.

Vitruvian targets low-capital-intensity companies with explosive organic growth based on market disruption, such as technology or new regulations. By constantly covering around ten investment themes, the team is developing strong expertise in numerous sub-sectors of the technology, healthcare, services or consumer sectors. Thanks to the flexibility of its strategy, with global geographic coverage and the ability to invest from growth equity to buyout, Vitruvian seeks out, for each investment theme, the geographies and investment stages where investment opportunities offer the strongest growth at the best price.

This strategy generated very good performance with a low loss rate. Vitruvian's mature funds generated an average return of 2.6x net investment and 23% net IRR.

In our opinion, they have built one of the best teams in Europe, with large-cap quality for investing in the mid-market, mainly in Europe but also in the rest of the world.

Altaroc Odyssey 2024 has committed to the Vitruvian Investment Partners V fund, with a target size of €6.5 billion.

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In this series

13

episodes

Presentation of the Odyssey 2024 Vintage

Louis Flamand, our Chief Investment Officer, presents the strategy of Vintage Odyssey 2024. In particular, he explains the evolution of geographical diversification and the interest of Lower to Mid Market funds attached to Large-Cap organizations for this new Vintage , while recalling our cautious investment approach which targets specific sectors and organizations with a proven track record of value creation.

Louis Flamand

Louis Flamand, our Chief Investment Officer, presents the strategy of Vintage Odyssey 2024. In particular, he explains the evolution of geographical diversification and the interest of Lower to Mid Market funds attached to Large-Cap organizations for this new Vintage , while recalling our cautious investment approach which targets specific sectors and organizations with a proven track record of value creation.

Louis Flamand

The Odyssey 2024 Vintage selection universe

At Altaroc, for Vintage 2024, we are focusing on seven fund managers - Bridgepoint, Nordic Capital, Inflexion, General Atlantic, Five Arrows, Summit and Vista - covering the European and North American Mid-Market in the technology, healthcare, services and digital consumption sectors, to ensure a diversified portfolio with controlled risk.

Dimitri Bernard

Dimitri Bernard

At Altaroc, for Vintage 2024, we are focusing on seven fund managers - Bridgepoint, Nordic Capital, Inflexion, General Atlantic, Five Arrows, Summit and Vista - covering the European and North American Mid-Market in the technology, healthcare, services and digital consumption sectors, to ensure a diversified portfolio with controlled risk.

Dimitri Bernard

Dimitri Bernard

Launch of the Odyssey 2024 Vintage (Part 1)

Altaroc 's Vintage Odyssey 2024 was recently launched and attracted over 1,500 attendees at the launch event. This vintage is open for subscription with a selection of prestigious private equity managers, including Bridgepoint, Nordic Capital, and General Atlantic.

Altaroc 's Vintage Odyssey 2024 was recently launched and attracted over 1,500 attendees at the launch event. This vintage is open for subscription with a selection of prestigious private equity managers, including Bridgepoint, Nordic Capital, and General Atlantic.

A review of Altaroc’s commitments (Part 2)

Interviews with company directors - Ecovadis x Visma (Part 3)

Damien Hélène

Damien Hélène

Damien Hélène

Damien Hélène

Interviews with managers - HG x Nordic Capital x Bridgepoint (Part 4)

Damien Hélène

Damien Hélène

Damien Hélène

Damien Hélène

Presentation of the Altaroc Odyssey 2024 Vintage (Part 5)

Exploring Altaroc’s new technology and service ecosystem (Part 6)

Closing of the event (Part 7)

Presentation of the Bridgepoint Development Capital fund

Bridgepoint Development Capital (BDC) is the lower to mid-market fund of Bridgepoint , in which Altaroc Odyssey 2024 has committed through BDC V. This fund targets high-growth companies valued between €50 million and €250 million, mainly in the Services, Technology and Healthcare sectors. BDC benefits from the resources of a large organization, giving it a competitive advantage over smaller funds. BDC's mature funds have solid performances with an average multiple of 2.6x net and an IRR of 30%.apital V, selected for the Vintage Altaroc Odyssey 2024.

Louis Flamand

Bridgepoint Development Capital (BDC) is the lower to mid-market fund of Bridgepoint , in which Altaroc Odyssey 2024 has committed through BDC V. This fund targets high-growth companies valued between €50 million and €250 million, mainly in the Services, Technology and Healthcare sectors. BDC benefits from the resources of a large organization, giving it a competitive advantage over smaller funds. BDC's mature funds have solid performances with an average multiple of 2.6x net and an IRR of 30%.apital V, selected for the Vintage Altaroc Odyssey 2024.

Louis Flamand

Presentation of the Manager Vitruvian

Vitruvian Partners is a global reference in Growth Equity and Growth Buyout, initially in Europe and then internationally. The firm targets companies with strong organic growth, often resulting from technological or regulatory disruptions, in the technology, healthcare, services and consumer sectors. Its flexible strategy, combining growth equity and buyout, has generated solid performances with an average multiple of 2.6x net and an IRR of 23%. Altaroc Odyssey 2024 has committed to the Vitruvian Investment Partners V fund (€6.5 billion).

Louis Flamand

Vitruvian Partners is a global reference in Growth Equity and Growth Buyout, initially in Europe and then internationally. The firm targets companies with strong organic growth, often resulting from technological or regulatory disruptions, in the technology, healthcare, services and consumer sectors. Its flexible strategy, combining growth equity and buyout, has generated solid performances with an average multiple of 2.6x net and an IRR of 23%. Altaroc Odyssey 2024 has committed to the Vitruvian Investment Partners V fund (€6.5 billion).

Louis Flamand

Presentation of the Manager Thoma Bravo

Thoma Bravo is a leading North American LBO firm specializing in software publishers, founded by Carl Thoma and Orlando Bravo. The firm adopts a rigorous operational approach, optimizing margins from the first year of ownership and favoring external growth. Its mature funds display solid performances with an average multiple of 2.9x net and an IRR of 29%. Altaroc is involved in two of their funds: Thoma Bravo XVI ($20 billion) for the large cap and Discover V ($7 billion) for the upper mid-market.

Louis Flamand

Thoma Bravo is a leading North American LBO firm specializing in software publishers, founded by Carl Thoma and Orlando Bravo. The firm adopts a rigorous operational approach, optimizing margins from the first year of ownership and favoring external growth. Its mature funds display solid performances with an average multiple of 2.9x net and an IRR of 29%. Altaroc is involved in two of their funds: Thoma Bravo XVI ($20 billion) for the large cap and Discover V ($7 billion) for the upper mid-market.

Louis Flamand

Presentation of the Manager Summit Partners

Summit Partners is a leading player in Growth Equity and Growth Buyout in North America, recognized for its proactive approach to direct sourcing (cold calling). The firm invests in high-growth companies, primarily in technology, healthcare, services and consumer goods. With a 40-year track record, its mature funds display an average performance of 2.9x net and 33% IRR. Altaroc Odyssey 2024 has committed to the Summit Partners Growth Equity Fund XII, with a target size of $9 billion.

Louis Flamand

Summit Partners is a leading player in Growth Equity and Growth Buyout in North America, recognized for its proactive approach to direct sourcing (cold calling). The firm invests in high-growth companies, primarily in technology, healthcare, services and consumer goods. With a 40-year track record, its mature funds display an average performance of 2.9x net and 33% IRR. Altaroc Odyssey 2024 has committed to the Summit Partners Growth Equity Fund XII, with a target size of $9 billion.

Louis Flamand

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Information on investment performance is given solely for illustration purposes. Past performance is not a reliable guide to future results. An investment in Private Equity involves a high degree of risk. Potential investors must have the financial capacity and willingness to bear the risks associated with investing in the Funds (including the potential total loss of their capital), as well as – in the case of the Altaroc ranges – the lack of liquidity. Find out more here.