Portfolio
Unlocking Hidden Value in Private Markets
We invest in lower middle-market companies with exceptional founders, applying operational expertise and patient capital to drive sustained value creation.
50+
Portfolio Companies
25%
Target IRR
Our Investment Thesis
Patient capital, partnered with exceptional management teams
Lower Middle Market Focus
Businesses with £5M-£50M EBITDA represent the most attractive risk-adjusted opportunity in private equity today. Less competition, more operational alpha.
Operational Transformation
We bring hands-on expertise in sales, technology, operations, and talent to drive fundamental business improvement beyond what capital alone achieves.
Patient Capital Advantage
Our flexible mandate allows 5-10+ year hold periods, compounding value without exit pressure and aligning with founder timelines.
Selected Investments
TechScale Solutions
Enterprise SoftwarePartnered with founders to scale ARR from £8M to £42M through product expansion and international go-to-market strategy.
Entry Year
2019
Return Multiple
3.2x
MediCore Health
Healthcare ServicesBuilt a regional healthcare platform through three strategic acquisitions and a centralised technology infrastructure.
Entry Year
2020
Return Multiple
2.8x
GreenBuild Corp
Sustainable ConstructionSupported management in pivoting to net-zero building methods, tripling margins and winning major government contracts.
Entry Year
2021
Return Multiple
2.1x
Investment Approach
Rigorous Selection
Less than 2% of reviewed opportunities reach our investment committee. Exhaustive due diligence across financials, management, and market position.
Active Partnership
We sit on boards, contribute operating expertise, and open our network to the businesses we back.
Value Creation
A structured 100-day plan and ongoing operational support to accelerate growth and unlock embedded value.
Disciplined Exit
Exit timing is driven by value maximisation, not fund lifecycle pressure. We are patient capital.
Their operational expertise transformed our business. They didn't just invest capital — they invested time, insight, and network.
— CEO, Portfolio Company