Elliut Thieblin
Associate
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- Full Name
- Elliot Thiéblin
- Title
- Investment Director
- Firm
- Activa Capital
- Firm Type
- Private Equity (independent lower-mid-market buyout & growth firm) — *note: not an angel investor, despite the stub data*
- Investment Stage
- Majority buyouts (LBOs) and minority growth capital in established, profitable SMEs — *not seed-stage*
- Check Size
- ~€10–30 million equity per transaction (up to ~€60 million with co-investment), targeting companies with enterprise value of €20–100 million (firm-level figures)
- Target Company Profile
- Profitable, cash-generative French mid-market companies that lead their sector or niche, with build-up and international-expansion potential
- Sector Focus
- Business services, healthcare/pharma, software & tech-enabled services, consumer goods, distribution, and industrials (firm mandate)
- Geographic Focus
- France (French SMEs)
- Location
- Paris, France
Background
Elliot Thiéblin is an Investment Director at Activa Capital, a Paris-based independent private equity firm founded in 2001 that partners with French lower-mid-market companies. He joined Activa in 2018 as an Associate, was promoted to Investment Manager in 2021, and was named Investment Director on 6 April 2023 — a rise recognized by managing partners Christophe Parier and Alexandre Masson, who cited his "constant dedication to the team." Over his tenure he has been involved in more than 10 transactions across Activa's funds.
Before joining Activa, Thiéblin spent over three years at the M&A advisory firm Lincoln International, first as an Analyst and then as an Associate. There he worked on numerous LBO transactions, with a concentration in the distribution, healthcare, packaging, and business services sectors — sectors that continue to align closely with Activa's own investment focus.
He holds a Master's degree from EM Lyon Business School, one of France's leading grandes écoles de commerce. At Activa he reinforces the investment team by screening and analyzing new opportunities and driving value-creation and build-up plans across portfolio companies.
Note on stub data: the original record labeled Elliot as an "Associate / Angel Investor / Seed Round." Research indicates this is outdated and mischaracterized — his current title is Investment Director, and Activa Capital is a mid-market private-equity buyout firm, not an angel or seed investor.
Investment Thesis & Focus
- Invests through Activa Capital's institutional funds (the firm manages over €500m), primarily via majority buyouts (LBOs) and selective minority growth equity — not early-stage/seed tickets.
- Targets profitable French SMEs with enterprise values of roughly €20–100 million, writing equity checks of about €10–30 million (up to ~€60m with co-investment).
- Sector emphasis reflected in his own deal history: healthcare/medico-social software, business services, distribution, and tech-enabled consumer platforms.
- Value-creation approach centers on buy-and-build (build-ups), digital transformation, and international/geographic expansion of sector-leading companies.
- Says "yes" to companies that lead their market or niche, generate stable cash flow, and have a clear consolidation or growth roadmap.
Notable Investments
- Arche MC2 (Activa Fund IV) — Leader in the digitalization of social action, medico-social, and personal-care services; created from the March 2021 merger of Medisys and Cityzen.
- Medisys (Activa Fund III) — Medico-social software provider; merged into Arche MC2.
- Explore / Sociétéinfo (Activa Fund III) — Business-information/data company; Sociétéinfo acquired as a build-up in March 2021.
- BSK Immobilier (Activa Fund IV) — One of France's leading digital real-estate agent networks (founded 2011 by Lionel Pelletier); Activa backing supports geographic expansion and service innovation.
- Plus various build-up acquisitions and operational-improvement initiatives across the above platforms.
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