Eurazeo Establishes €180 Million Continuation Fund for I-TRACING Growth

Eurazeo has announced the establishment of a €180 million continuation fund dedicated to supporting I-TRACING, a leading French cybersecurity service provider. This fund, managed by Eurazeo, aims to support I-TRACING's growth alongside Oakley Capital and Sagard NewGen, as both firms co-invest. The founders and management team, along with over 80 I-TRACING employees, are significantly reinvesting in this new phase.

The continuation fund features participation from Five Arrows Secondary Opportunities and TPG GP Solutions as co-lead investors, with additional backing from Eurazeo's existing and new institutional partners. This investment supports I-TRACING's ambitious European expansion strategy, focused on an active buy-and-build approach.

Founded in 2005, I-TRACING has doubled in size over the past three years, now employing 700 cybersecurity experts. The company targets €150 million in revenue for 2024. Eurazeo and its partners aim to establish I-TRACING as a European leader in cybersecurity services.