Paris, September 8, 2026
Ten years ago, we founded B & Capital on a simple conviction: beyond capital, French SMEs need strategic expertise and operational support. This philosophy has guided the success of our first two funds, RB Capital France 1 (2018) and RB Capital France 2 (2023), which raised over 530 million euros from institutional investors, family offices and private investors.
Today, we are taking a new step by opening the doors to the French Small Cap market.
An opportunity to seize in Small Cap
The Small Cap segment is full of outstanding SMEs with a valuation between 5 and 15 M€ that have genuine value creation potential. These growing companies operate in our core sectors: business services, healthcare, distribution, technology, specialized industries and environment.
In these sectors, consolidation, digitalization, AI and sustainability are concrete levers for value creation. We are convinced that the best strategies to activate them come from dialogue between patient capital and true operational expertise.
That’s exactly our value proposition. And it works just as well in Small Cap as it does in mid-cap.
A continuum of growth
With tickets ranging from 5 to 15 M€, RB Small Cap France 1 complements our investment range.
The fund targets fundraising of 120 to 130 million euros and will apply exactly the same approach as its predecessors: combining capital, strategic expertise and operational support, leveraging Roland Berger’s network and sectoral expertise.
A team with conviction
To lead this new venture, we are welcoming Marianne Harlé as Associate Director.
Marianne brings nearly 20 years of experience in investment and support for small businesses. She is accompanied by Thibault Menel, Director of Investments, with whom she shares more than a decade of working together.
Marianne and Thibault deeply share B & Capital’s philosophy: Small Cap is not a question of average ticket size, it’s a question of quality of support. Of dialogue. Of fine-grained understanding of each company’s operational challenges.
