Lazard and Elaia Partners Enter into Exclusive Negotiations for a Strategic Partnership to Develop a European Private Technology Platform
Lazard and Elaia Partners plan to launch a late-stage and growth equity fund focused on Europe and managed by a new jointly owned asset management firm based in Paris
PARIS, DECEMBER 14, 2023 — Lazard, a global leader in active asset management, and Elaia Partners, an established European venture capital firm, today announced their entry into exclusive negotiations to form a strategic partnership and launch a private investment platform. Based in Paris, the new joint asset management firm, together with Lazard and Elaia Partners, would aim to meet the capital needs of future French and European technology and deep tech leaders. With this new entity, Lazard and Elaia Partners would be in a position to support the companies at all stages of their development, from seed or early stage to their listing and life on financial markets.
The new joint effort will be led by Xavier Lazarus, co-founder and managing partner of Elaia Partners, alongside a newly hired investment team. It would look to launch its first European-focused fund as early as 2024.
Lazard and Elaia Partners have a common focus on investment excellence and performance. They also have a shared approach to research, based on a deep fundamental understanding of companies.
This strategic partnership would enable Lazard to meet the growing demand of its institutional and private wealth management clients for private assets. The partnership expands Lazard’s range of products while benefitting from the expertise and track record of Elaia Partners.
The partnership would serve as a natural extension of Elaia Partners’ growth plan to cover later stages of development, while also benefitting from Lazard’s global distribution network. It is designed to strengthen Elaia Partners’ presence throughout the development cycle of technology companies. While participating in this new initiative, Elaia Partners would continue to execute its current investment strategy in B2B technology and deep tech sectors.
“We are excited about this opportunity to partner with Elaia Partners. Elaia Partners brings unique expertise alongside a leading track record in selecting and supporting European technology and deep tech entrepreneurs.” said Evan Russo, CEO of Lazard Asset Management. “This partnership would allow us to expand our investment offering with the ability to provide clients with access to unique private investment opportunities in technology.”
“Over the past decade, France and Europe have developed their technology and deep tech entrepreneurial ecosystem, and we have already seen the emergence of global leaders out of our European tech hubs. It is now time for champions to emerge on the financing level.” said Xavier Lazarus, Co-founder and Managing Partner of Elaia Partners. “Leveraging Lazard’s strong brand and global reputation, as well as the firm’s long history of asset management expertise, the opportunity of this partnership represents a tremendous growth accelerator for Elaia Partners. Our common DNA and complementary strengths would enable us to bring a high-quality offering to our investors and entrepreneurs.”
The transactions creating the new platform are subject to the prior information and consultation of the relevant employee representative bodies, the execution of definitive agreements and regulatory approvals. They are expected to close in 2024. We also continue to discuss other ways to develop our partnership.
