AnaCap acquires Cleva

The market-leading private equity investor specialised in partnering with founders in exclusivity talks to acquire Cleva

M & A buy side 2024, July

Enterprise software

“We are delighted to announce our investment in Cleva. We look forward to partnering with the management team and supporting the company during its next stage of growth. We believe that Cleva is well positioned to grow its offering as a leading insurance software provider across Europe but also to expand its business reach into new geographies. We were particularly impressed by the efforts made by the management team over the last 3 years in developing a modern tech stack across both life and non-life solutions and we are very excited to begin the next phase of growth with Cleva.”

Nassim Cherchali, Managing Partner at AnaCap

AnaCap, a market-leading private equity investor specialised in partnering with founders and entrepreneurial management teams across services, technology and software within the European financial ecosystem, today announces that it has entered into exclusive negotiations to acquire insurance software provider Cleva from Inetum Group.

Cambon Partners acted as buy-side advisors to AnaCap.

This latest development will represent AnaCap’s second platform investment in 2024 following the acquisition of a majority stake in Yard Reaas, a leading investment services and property management platform in April 2024.

Cleva is a leading provider of core life, health and non-life insurance software solutions. The company is headquartered in Paris, operating predominantly in France and Portugal and serving more than 60 insurance carriers and brokers.

Cleva employs approximately 550 people with offices in Paris, Lyon, Porto and Lisbon. Prior to AnaCap’s exclusive negotiations, the business was part of Inetum Group, an information technology service provider that was acquired by Bain Capital in 2022.

Cleva is led by CEO Rodolphe Peim, alongside a very experienced management team based in France and Portugal. Working collaboratively, they will continue to drive the growth and development of the company under AnaCap’s ownership.

Cleva is well positioned to benefit from the continued outsourcing trends within the insurance industry which is experiencing accelerated penetration of third-party software solutions. With the support of AnaCap and its unique and unrivalled track record across both insurance and software, Cleva aims to accelerate its growth plans and expand its geographic footprint, especially in the Iberia region.