IRIS Capital Investment

Founder and CEO Fabrice Evangelista leads the investment process, supported by a Paris-based team of managing partners that includes Frédéric Sutterlin, Pedro Almeida Vilela, and Thierry Lambert. The firm describes its decision-making as fast and autonomous because it deploys proprietary capital and carries no external limited partners.

IRIS Capital uses tailor-made equity and equity-linked instruments. Its primary product, SmartATM, provides flexible, committed equity financing, while the firm also structures mandatory convertible bonds designed to align with stock performance and limit dilution. These are deployed as long-term funding solutions, not short-term trading positions.

None of the above. IRIS Capital is an independent asset manager with a proprietary balance sheet — it does not raise external funds. It functions as an alternative-finance provider for publicly listed companies, closer in structure to a principal-trading desk than to a venture firm or a family office.

Public disclosures indicate board-level relationships via affiliated individuals — Hadrien Lanvin, deputy CEO of ATON Group, is associated with IRIS Capital's board, and CEO Fabrice Evangelista signed the Manifeste pour le développement des marchés de capitaux alongside COO Laurent Ah-Koon — but IRIS Capital itself presents as a financing partner rather than an active operating shareholder.

The firm states it invests only in what it understands and in those it believes in, and its disclosed counterparties are overwhelmingly publicly listed European companies. There is no evidence of private-company direct equity, real-estate development outside its Remiris repurchase activity, or debt instruments that do not carry an equity conversion feature.

Remiris operates as a division within IRIS Capital Investment, specializing in vente à réméré — a French real-estate refinancing mechanism that allows homeowners to sell and later repurchase their property. The Remiris website is published only in French, and Laurent Ah-Koon oversees the activity as part of his COO responsibilities.

The firm states explicitly that it is fully independent with proprietary capital and carries no external LPs. The founding capital traces to Fabrice Evangelista, who funded the firm in 2012 following his tenure as Global Head of Trading & Quantitative Arbitrage at BNP Paribas, though IRIS has not publicly disclosed the size of its balance sheet.