- Eiffel Investment Group will invest via its Eiffel Essentiel fund
- Demeter Partners’ Paris Fond Vert fund will exit the capital structure in this round
- Elevation Capital invested in Mylight150 in 2016
Eiffel Investment Group, Azora Capital and Andera Partners have co-led a €100 million investment round in Mylight150, a French cleantech company, alongside existing investor Elevation Capital Partners.
Eiffel Investment Group will invest in Mylight150 via its Eiffel Essentiel fund, Azora through its Azora European Climate Solutions Fund and Andera via its Andera Smart Infra I fund.
Demeter Partners’ Paris Fond Vert fund, a shareholder in the company since 2020, will exit the capital structure in this round.
Lyon-based Mylight150 also provides value-add services, such as its subscription-based virtual battery solution. It has quintupled its turnover and workforce over the last 3 years and is expected to generate around €100 million in sales in 2023.
Mylight150 plans to recruit 100 new individuals by the end of 2024 and to multiply its sales by five before 2030.
Mylight150 plans to deploy and expand its solar ecosystem offering in France, Spain, and other European countries with this investment, according to a release. The company aims to make solar power the primary source of energy and sustainably reduce the energy bills of European homes and buildings by increasing the penetration of this technology across the continent, the release said.
Elevation Capital invested in Mylight150 in 2016.
“This investment will consolidate mylight150’s European leadership in the field of energy transition through solar self-consumption and enable the company to further expand and contribute significantly to the shift towards sustainable economy,” said Julien Hugot, Co-founder, managing partner at Elevation. “This is the first operation of FPCI Elevation Growth, our newly launched fund targeting innovative companies combining rapid growth and structural profitability.”
Paris-based Eiffel Investment Group is an alternative investor and asset manager in credit and equity. It has €5.5 billion of assets under management.
Azora is an international alternative investment management firm with over €9.7 billion in assets. It has offices in Madrid, London and Miami.
Andera is an asset management firm based in Paris.
Elevation Capital is the private equity management company of Inter Invest Group. Based in Paris, it has €450 million of assets under management.