The founder
Nicolas Idelot
Fifteen years in the field, from construction sites to deal structuring. One constant principle: an asset's value lies in its use, not in its shell.
Background
A technical education at the University of Bordeaux, a physical measurements degree followed by a professional degree in construction management, completed through apprenticeships at Eiffage Travaux Publics and Kaufman & Broad.
His early years were spent in the field: Eiffage Route, then site manager at Guintoli, then technical manager at Kaufman & Broad. A culture of execution that never left him.
In 2017 he joined Rivage, an operator specialised in the complex refurbishment of office and public-access buildings, notably delegated project owner for the Groupe Parinaud property company. He became its managing director in 2018.
In 2019 he created IDN Capital to structure his own investments. In 2025 he founded INside BAT, the group's fit-out arm, and became president of I-CA.RE, the operating property company dedicated to neighbourhood healthcare real estate.
A former professional parachutist and federal instructor, and a PADI Divemaster, he kept from these disciplines a conviction that serves complex real estate well: you only commit prepared, and risk management happens before the jump.
Three signature operations
Queyries, Bordeaux
Refurbishment of a heritage building on quai de Queyries into a higher-education establishment. Delivered in 2022.
INSEEC Chartrons, Bordeaux
6,000 sqm of public-access premises restructured while remaining in operation, with a roof extension of the former auction house. BREEAM Very Good certification. Delivered in 2024.
IMAGIR, Bordeaux
Conversion of an office building into a medical imaging centre (3T MRI) with a roof extension, in an occupied site. The first private centre dedicated to endometriosis detection.
Investment doctrine
- Existing buildings are worth more than new ones.
- Vacant ground floors and under-used assets are a strategic reserve the market underestimates.
- Environmental performance is built into the thickness of the walls, not proclaimed: refurbishing what exists is already the most sustainable decision.
- Capital only goes into operations we understand and master operationally.
- The investor is a long-term partner, not a counter.