Ring Capital closes €217m growth buy-out fund to back ‘high-performing’ impact companies

Left to right: Ring Capital's Marie-Capucine Lemétais (GP), Pierre-Alexis de Vauplane (GP), Sara De Benedetti (Principal), Laure Tallon (Associate), Anthony Guillen (Partner), Maxime Dejardin (Analyst). Supplied
8 dec. 2025
08:24
Left to right: Ring Capital's Marie-Capucine Lemétais (GP), Pierre-Alexis de Vauplane (GP), Sara De Benedetti (Principal), Laure Tallon (Associate), Anthony Guillen (Partner), Maxime Dejardin (Analyst). Supplied
French impact private equity firm Ring Capital has closed its largest fund to date – a €217m growth investment vehicle targeting impact companies.

Ring Capital has announced the final close of its Altitude II Growth fund at €217m. The fund will back growth-stage companies working across impact verticals such as energy, mobility, healthcare, and education.

Anchor LPs in the fund include investors in the first (€165m) Altitude fund – Tikehau, Bpifrance, and Swen. New backers include Crédit Agricole, Abeille Assurances, Investcorp Tages and the European Investment Fund (EIF).

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