The management company believes that the growth capital and SME financing asset class still has significant growth potential with retail investors. Its assets under management increased by EUR 700 million last year to EUR 7.5 billion.

Does the collapse of the American bank Silicon Valley Bank (SVB) call into question private equity investment? Doesn't the bankruptcy of this institution, a privileged partner of American start-ups, reveal the excesses of private equity and venture capital? 

For Nextstage AM, which just celebrated its 20th anniversary, it is instead a good time to invest after a valuation correction of about 20 % in 2022. "Now is a good time to buy. Now is when the best opportunities are available", said Friday its president Gregoire Sentilhes during a press briefing, at a time when the U.S. authorities were trying to resolve the crisis. 

Different segments

For Jean-David Haas, the Managing Director, one should not confuse the different segments of private equity: venture capital, development capital and LBO financing (capital-transmission) and focus on strategies that have less recourse to debt and are less exposed to rate increases.

Nextstage AM believes in the potential of growth capital in SMEs for retail investors, having been among the pioneers of democratization since 2002. It mentions in particular NextStage Croissance, "the first private equity unit of account, which ranks among the best performing solutions eligible for life insurance in 2022". Created in 2016, it is accessible from €1,000 in life insurance policies or retirement savings plans (PER). Nextstage Croissance has €40 million in assets under management for a total of €250 million in its master fund Nextstage Evergreen. 

A large number of banking players

"Nextstage Capital Entrepreneur's reinvestment solutions have been referenced by a large number of leading banking players. The launch of the solution eligible for reinvestment on behalf of Amundi managed by Nextstage AM has also been a success, while Pépite & Territoires has reached its investment objectives with 28 companies invested since its launch in June 2021. The program will be marketed to Axa's clients in the near future", details the press release.

Despite the growing appeal of private equity to individuals, Grégoire Sentilhes believes that the potential remains intact: "Private equity asset allocation remains limited to 1.5 % in France, despite an increase of 50 % in recent years, compared to 27 % in American family offices".

According to the president, private markets will continue to grow in importance in corporate financing: "We are witnessing a gradual shift in the financing of the real economy from stock markets to private markets. This is a fundamental trend".

The management company's assets under management reached 7.5 billion euros, held directly or indirectly, last year after an increase of 700 million euros at December 31, including Atream (a private equity company specializing in real estate and tourism) and Linxea, (specialized in online savings management).