04:19 AM EDT, 04/18/2024 (MT Newswires) -- Lazard ( LAZ ) has partnered with European venture capital firm Elaia Partners to launch a technology-focused private equity investment platform, the companies said Thursday.

Based in Paris, the new company, named Lazard Elaia Capital, will be 75%-owned by Lazard ( LAZ ) and 25%-owned by Elaia Partners.

The new firm is expected to launch an initial fund focused on Europe by 2025, subject to regulatory approval.

In addition, Lazard ( LAZ ) has also acquired a minority interest in Elaia Partners with an option to acquire 100% ownership over time, the companies said.