One of Truffle Capital’s most distinctive aspects is its focus on technology spin-offs and start-ups in Western Europe.
We estimate that the top 100 technology-driven European companies waste about 15% to 20% of their R&D expenditures on projects that are not properly exploited when they fall outside of corporate priorities. And we identify great need for private equity funding for these projects.
In many cases, we have approached management to suggest they consider selling a non-strategic asset. We have completed spin-offs from major groups including Areva, Abbott Diagnostic, Edap Technomed, Infineon, Inserm, Knaug, Société Générale, and Schneider.
We have also structured spin-offs from universities like Paris VI University, Paris V University, University of Zurich, and from research institutes like the CNRS.
Spin-offs are an attractive investment target since they combine the advantages of a late-stage technology or product with a low risk profile and low valuation at entry. This results in faster and better returns on investment.
We believe in our investment strategy and often take majority stakes or are lead investors in our portfolio companies. We put all our entrepreneurial expertise at their disposal and help them in their growth strategy.