Alter Equity

Alter Equity is a French impact-focused private equity and venture firm that backs companies generating measurable social and environmental outcomes alongside financial returns. The firm sits in the impact-capital ecosystem and has invested across health, education, ecological transition, and inclusion themes, with a French and European geographic concentration. For healthcare AI founders, Alter Equity is most relevant if your company has a clearly articulated impact thesis — improving access, lowering cost, addressing disparities, or serving underserved populations — that can be measured and reported in line with Alter Equity’s impact framework. Stage focus is later than typical venture; they often participate in growth-stage and Series B-plus rounds for businesses with revenue and proven impact, with check sizes plausibly EUR 2M to 10M. Founders who should approach: French or European digital health companies with at-scale revenue and a credible impact narrative, particularly those serving public payers, the elderly, mental health populations, or chronic-disease patients in underserved regions. Founders who should not approach: pre-revenue science plays, US-only companies, and founders unwilling to commit to ongoing impact reporting and KPI tracking, which Alter Equity will require contractually. Entry path is warm introduction through the French impact-investing network — France Invest, Mouves, or co-investors like INCO and Phitrust — or through portfolio founders. Direct outbound through their website is acceptable since they actively review submissions. Be prepared with a clear theory of change and quantified impact metrics from day one.