Jolt Capital Research
Investment Thesis
Jolt Capital is a Paris-based private equity firm, founded in 2011 by Jean Schmitt (a technology entrepreneur and former managing partner at Sofinnova), that provides growth capital to European B2B deeptech companies. The firm says Europe produces a large amount of intellectual property but lacks growth capital to scale it, and that it can close that gap by backing companies with proven revenue and proprietary technology, then helping them scale globally through build-up M&A, new markets, strategic customers and executive hiring. Its stated convictions include deep operating experience in private equity, AI-driven origination and portfolio tools, technology as the answer to health, climate and food challenges, and responsible (ESG) investing. Its flagship fund, Jolt Capital V, is classified Article 9 under SFDR.
Sector Focus
Target sectors are hardware-driven and software-driven deeptech:
- Semiconductors and semiconductor equipment
- Photonics, smart sensors and advanced materials
- Cybersecurity and technical software
- Electrification and energy management
- Medical devices and personalized/digital health
- Applied artificial intelligence, robotics, IoT and Industry 4.0
Stage Focus
The core strategy is growth stage: companies with revenues of roughly EUR 10M to EUR 50M (the portfolio page cites EUR 10M to EUR 100M), strong fundamentals and breakthrough proprietary technology. This is not venture capital. In October 2026 Jolt acquired Mirova's private equity business (the MEAC and MILE funds), adding an early-growth platform for companies with EUR 3M to EUR 10M in revenue.
Check Size
Growth capital of EUR 10M to EUR 50M, deployed in tranches. The Tempress commitment was EUR 20M and the 2019 EfficientIP round was EUR 10M. The acquired Mirova MEAC strategy writes EUR 5M to EUR 30M tickets in early growth.
Lead Tendency
Leads. The VEV deal was described as an investment led by Jolt Capital with Tesi as co-investor, and Jolt took a leading stake in Tempress alongside existing holder Innovation Industries. It also led the EfficientIP round.
Recent Activity
- Jolt Capital V first close of EUR 600M (November 2025) with a EUR 1.1B hard cap; EIF anchored with EUR 260M; CDP Venture Capital SGR joined in October 2026. The fund targets about 20 European deeptech companies.
- September 2026: led VEV (UK commercial fleet electrification), buying Vitol's stake, with Tesi co-investing.
- July 2026: committed EUR 20M to Tempress (Netherlands semiconductor furnaces), the first Jolt Capital V deal and the firm's first in the Netherlands; Tempress is acquiring SPT-USA.
- June 2026: EfficientIP sold to Francisco Partners, the fourth exit in 18 months.
- October 2026: acquired Mirova's PE business.
Portfolio Highlights
Current: VEV, Tempress, P2i, ChapsVision, Dolphin Semiconductor, BOYDSense, Bioserenity, Microoled, BC Platforms, Tehtris, Alpha MOS, Interel, 4JET, Kebony, Virta. Exits: Blackwood Seven, Skill & You, Verimatrix, Eyeota, Heptagon, Fogale, Vectaury, UnitySC, NIL Technology, EfficientIP, Sinequa.
Team
- Jean Schmitt: President and Managing Partner, founder
- Laurent Samama: Managing Partner and Impact Officer
- Antoine Trannoy, Andrea Traversone: Managing Partners (Growth)
- Guillaume Girard: COO and Managing Partner
- Pierre Garnier: Managing Partner and CIO (Growth)
- Eoghan Hickey: Managing Partner and MD Canada
- Marc Romano: Managing Partner and CIO (Early Growth)
- General Partners: Clara Audry, Eric Arnould (Head of IR), Maxime Mallet, Marie Nicod, Anne Boulet, Joanna Parent, Marie-Estelle Iorio
- Supported by more than 20 operating partners and value creation partners across Europe, North America, Japan, Korea and China, and a proprietary AI platform, Jolt.Ninja, for sourcing, diligence and monitoring.
Decision Process
A large partnership with several managing partners and general partners, plus an investment team that has worked together for many years. The exact committee structure is not published.
Founder Preferences
Established management teams with real revenue, proprietary technology and ambition to scale globally. The firm values founders who want hands-on help with M&A, recruiting and expansion into Asia and North America. Italian-rooted deeptech champions are a stated priority.
Geographic Focus
European companies, with expansion support in the US, Canada, Japan, Korea and China. Offices in Paris, Lausanne, Copenhagen, Milan, London, Montreal, Seoul and Tokyo.