Ring Capital is a Paris-based impact investment firm focused on backing companies that drive ecological and social transition at scale. The firm invests across venture and growth stages, supporting businesses that combine strong financial performance with measurable positive impact. Ring Capital positions itself at the intersection of private equity discipline and impact-driven entrepreneurship, with a strong European footprint.
Ring Capital invests in startups and scale-ups operating in strategic transition sectors, including health, education, agriculture, mobility, and energy.
The firm targets companies with proven business models, meaningful revenues, and clear pathways to profitability, while delivering tangible environmental or social benefits. Its focus sits firmly on impact-oriented businesses that are ready to scale.
Ring Capital closed its second growth-impact fund, Altitude II, at €217 million. The fund represents a significant step up in size compared to its predecessor and is dedicated to backing European companies driving the ecological and social transition.
Altitude II is supported by a strong base of institutional LPs, including new investors such as the European Investment Fund and Investcorp, alongside returning backers Tikehau, SWEN Capital, and Bpifrance. The fund targets companies with more than €10 million in revenue and typically €1 to €5 million in EBITDA, operating in sectors critical to long-term sustainability.
Altitude II has already begun deploying capital, with early investments including Karos, Enerdigit, and Téo. The fund is designed to provide growth capital to companies entering a scaling phase, while reinforcing governance, impact measurement, and operational execution.
Leadership
Ring Capital was co-founded by Nicolas Celier and Geoffroy Bragadir, and is led by a multidisciplinary team with backgrounds in private equity, impact investing, and entrepreneurship. The leadership team includes partners and investment professionals with deep experience across European growth markets and impact-driven sectors.
Investment Strategy
Ring Capital follows a growth-oriented impact strategy. The firm invests in companies with validated products, established revenues, and strong management teams. It works closely with founders to accelerate scaling, strengthen operational performance, and structure impact measurement frameworks. Ring Capital typically takes significant minority stakes and acts as an active board-level partner.
Notable Investments
Notable investments include Karos, a short-distance carpooling platform, Enerdigit, a specialist in electricity demand-response solutions, and Téo, an ophthalmology care network, alongside a broader portfolio spanning health, energy, education, and sustainable agriculture.
Notable Exits
Ring Capital has achieved exits across its earlier funds, though specific outcomes related to Altitude II have not yet been announced due to the fund’s recent closing.
Other
Ring Capital focuses on companies that are past early experimentation and ready to scale with institutional growth capital.
The firm places strong emphasis on impact metrics, governance, and profitability, making it best suited for founders who combine mission-driven ambition with operational rigor.
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