Discover if this is a suitable investor for your startup. If they are we'll make a warm introduction for free. Otherwise, we'll connect you with matching investors.
Transition Evergreen, also known as Evergreen Holding, is a France-listed evergreen investment vehicle managed by Aqua Asset Management. Founded to support ecological transition, the fund focuses on investing in unlisted French and European SMEs committed to reducing carbon footprints. Transition Evergreen is notable for being the first publicly listed investment fund in France dedicated to ecological transition, emphasizing sustainable practices and responsible investment.
The organization has a strong commitment to supporting companies that contribute to renewable energy growth, sustainable resource management, and environmentally responsible sectors. Transition Evergreen's investment strategy is designed to align with sustainable development goals, ensuring that their portfolio companies are integral to the ecological transition.
Transition Evergreen has undergone restructuring as of March 2026, which may impact its current investment capacity. The fund's net asset value was previously cited at EUR 101 million as of June 30, 2022, but this figure may not reflect the current state post-restructuring. The firm is based in France and operates primarily within the European market.
Transition Evergreen invests primarily in sectors related to ecological transition, including biogas, decentralized renewable energy, sustainable natural-resource management, decarbonized mobility, hydrogen production, and eco-responsible packaging. The fund targets growth equity investments in unlisted SMEs that are committed to sustainable practices and have a clear path to scaling their operations. The investment strategy emphasizes long-term development and aims to provide growth capital to companies that align with sustainable development goals.
The organization applies an entrepreneurial and co-construction approach to its investments, focusing on active support tailored to the maturity levels of portfolio companies. Transition Evergreen seeks to partner with businesses that demonstrate measurable environmental impact and have the potential to become significant players in their respective sectors. The fund's geographic focus is primarily on France and Europe, reflecting its commitment to supporting local and regional ecological initiatives.
Transition Evergreen's portfolio includes several notable companies that are integral to its mission of supporting ecological transition:
These companies exemplify Transition Evergreen's commitment to investing in sectors that promote ecological sustainability and carbon footprint reduction. The fund's focus on growth equity allows it to support these businesses as they scale and contribute to the ecological transition.
Lionel Le Maux - Chairman and CEO / founder of Transition Evergreen, Lionel has extensive experience in both listed and unlisted investing across France and Europe. He is also the President of Aqua Asset Management, where he oversees the fund's strategic direction.
Jacques Pierrelée - Directeur General at Aqua Asset Management, Jacques plays a key role in managing the fund's operations and investment strategy, contributing to its focus on ecological transition.
Vick Desplat - Investment Director at Aqua Asset Management, Vick is responsible for sourcing and evaluating investment opportunities within the ecological sectors targeted by Transition Evergreen.
Guillaume Neymon - Investment Director at Aqua Asset Management, Guillaume focuses on identifying growth opportunities in sustainable businesses and supporting their development post-investment.
Victor Luciani - Senior Investment Associate, Victor is part of the investment team, contributing to the evaluation and management of portfolio companies.
Lucie Paradis - Investment Analyst, Lucie supports the investment team in analyzing potential investments and monitoring portfolio performance.
Transition Evergreen does not specify a preferred channel for pitches, but founders should prepare a comprehensive presentation that highlights their business model, environmental impact, and growth potential. Including data on market trends and competitive positioning can strengthen the pitch. While there are no specific application forms mentioned, demonstrating alignment with the fund's ecological focus is essential.
In March 2026, Transition Evergreen announced a continuation plan following court-supervised restructuring actions. This restructuring was aimed at addressing debt owed to Zencap Asset Management and involved significant changes to the fund's holding structure.
Prior to this, Transition Evergreen had cited a net asset value of EUR 101 million as of June 30, 2022. The fund's focus on ecological transition remains strong, with ongoing efforts to support companies in sectors such as biogas and sustainable resource management.
What are Transition Evergreen's investment criteria?
Transition Evergreen focuses on investing in unlisted French and European SMEs that are committed to ecological transition. The fund looks for companies in sectors such as biogas, renewable energy, and sustainable resource management, with a clear path to scaling their operations.
How can I pitch to Transition Evergreen?
Founders interested in pitching to Transition Evergreen should prepare a detailed presentation that outlines their business model, environmental impact, and growth potential. While specific application channels are not disclosed, demonstrating alignment with the fund's ecological focus is crucial.
What makes Transition Evergreen different from other investors?
Transition Evergreen is unique as the first publicly listed investment fund in France dedicated to ecological transition. The fund emphasizes long-term development and provides active support tailored to the maturity levels of its portfolio companies.
What is the geographic scope of Transition Evergreen's investments?
The fund primarily invests in France and Europe, focusing on SMEs that contribute to ecological transition within these regions.
What is the typical check size for investments?
Specific check sizes are not disclosed, but Transition Evergreen targets growth equity investments in companies that are scaling their operations in ecological sectors.
What kind of post-investment support does Transition Evergreen provide?
Transition Evergreen adds value through active support tailored to the maturity levels of its portfolio companies, leveraging Aqua Asset Management's expertise in the ecological sector.
All trademarks, logos and brand names are the property of their respective owners. All company, product and service names used in this website are for identification purposes only. Use of these names, trademarks, and brands does not imply endorsement.