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Albion Capital

Albion Capital

London, United Kingdom·Founded 1996··albion.capital

Albion Capital Group LLP is a London-based independent venture and growth investment manager founded in 1996 as Close Ventures, the venture-capital arm of Close Brothers Group. The firm became independent in 2009 through a management buyout and rebranded from Albion Ventures to Albion Capital in 2017. It is one of the United Kingdom's largest and longest-established managers of Venture Capital Trusts, the London-listed closed-end vehicles that give retail investors tax-advantaged exposure to early-stage and growth British companies. Albion invests in healthcare and digital health, business-to-business software and fintech, deep technology and climate technology, alongside asset-backed and renewable-energy holdings, with its technology investing carried out under the AlbionVC brand. The firm manages approximately GBP 1 billion in assets and is regulated by the UK Financial Conduct Authority under firm reference number 492536; in December 2024 it consolidated its six Venture Capital Trusts into three.

AUM
€1.2B
Funds
2
vintages 2001–2007
Portfolio
42
Exits
15

Albion Capital is a London venture capital firm with €1.2B AUM, 42 active companies and 15 exits.

Key takeaways
  • ·12 exits in the last 5 years · consistent DPI cadence.
  • ·Average hold across 15 realized deals: 5 years.
  • ·Best return: 10.0x MOIC on Process Systems Enterprise (2019).
  • ·Fund cadence: ~6Y between vintages · last raise 2007.

Sector breakdown

57 companies
Fintech
13 · 23%
HealthTech
8 · 14%
AI/ML
8 · 14%
Data & Analytics
6 · 11%
ClimateTech
4 · 7%
Cybersecurity
3 · 5%
Software
3 · 5%
HR Tech
2 · 4%

Geography breakdown

2 geographies
UK
56 · 98%
Sweden
1 · 2%

Key facts

HQLondon, United Kingdom
Founded1996
Employees56+

Recent exits

Seldon

Albion Capital sold Seldon to TrueFoundry in 2026 after 6 years.

Albion Capital sold Accelex to Carta in 2025 after 4 years.

Black Swan Data

Albion Capital sold Black Swan Data to Mintel in 2025 after 3 years.

Humanloop

Albion Capital sold Humanloop to Anthropic in 2025 after 3 years.

Partners

Will Fraser-AllenManaging Partner
Andrew ElderDeputy Managing Partner
Emil GigovPartner
Ed LascellesPartner
Christoph RuedigPartner

Coverage notes

2 funds tracked, 57 portfolio companies (42 active · 15 realized). Verified weekly from public filings and deal announcements.

Investment team

Senior partners. Hand-checked from public filings and the firm's own site.

Will Fraser-Allen
Managing Partner
Andrew Elder
Deputy Managing Partner
Emil Gigov
Partner
Ed Lascelles
Partner
Christoph Ruedig
Partner

Funds & portfolio

Every fund Albion Capital has raised, with its portfolio companies. Hand-checked from public filings.

2 funds
Albion Enterprise VCT
Evergreen2007€349M38 assets12 exits

Unrealized

38 held
CompanyEntry
5Mins
EdTech · UK
2022
Agio Ratings
Fintech · UK
2025
Bound
Fintech · UK
2026
Convertr
Data & Analytics · UK
2016
Firenze
Fintech · UK
2026
Flok Health
HealthTech · UK
2026
Gaussion
ClimateTech · UK
2026
geoSurge
AI/ML · UK
2026
Gravitee
DevTools · UK
2021
Gridcog
Software · UK
2024
Healios
HealthTech · UK
2021
Imandra
AI/ML · UK
2019
Infact
Fintech · UK
2024
Innerworks
Cybersecurity · UK
2025
Ionate
ClimateTech · UK
2025
kennek
Fintech · UK
2023
Kohort
SaaS · UK
2023
Koru Kids
Education · UK
2019
Latent Technology
AI/ML · UK
2025
Mondra
ClimateTech · UK
2025
NuvoAir
HealthTech · Sweden
2021
OpenDialog
AI/ML · UK
2024
OpenTrade
Fintech · UK
2024
OutThink
Cybersecurity · UK
2022
Peppy
HealthTech · UK
2023
PerchPeek
HR Tech · UK
2022
Phasecraft
Deep Tech · UK
2023
Quantexa
Data & Analytics · UK
2017
Radnor House School
Education · UK
2010
Runa
Fintech · UK
2020
Solidatus
Data & Analytics · UK
2021
Speechmatics
AI/ML · UK
2019
tem.
ClimateTech · UK
2023
Toqio
Fintech · UK
2022
TransFICC
Fintech · UK
2020
Treefera
Data & Analytics · UK
2024
trumpet
Software · UK
2024
uMed
HealthTech · UK
2020

Realized

12 exits
CompanyEntryExitTypeBuyerMOIC
Accelex
Fintech · UK
20212025Trade SaleCarta–
Achilles Therapeutics
Biotech · UK
20162021IPO––
Black Swan Data
Data & Analytics · UK
20222025Trade SaleMintel–
Brytlyt
Data & Analytics · UK
20212024Trade SaleOpensignal–
Clear Review
HR Tech · UK
20192020Trade SaleAdvanced–
Credit Kudos
Fintech · UK
20202022Trade SaleApple–
Egress
Cybersecurity · UK
20142024Trade SaleKnowBe4–
Humanloop
AI/ML · UK
20222025Trade SaleAnthropic–
Odin Vision
HealthTech · UK
20192022Trade SaleOlympus–
Ophelos
Fintech · UK
20222023Trade SaleIntrum–
Phrasee
AI/ML · UK
20182022SecondaryCapital D–
Seldon
AI/ML · UK
20202026Trade SaleTrueFoundry–
Albion Technology & General VCT
Evergreen2001€344M4 assets3 exits

Unrealized

4 held
CompanyEntry
Concirrus
InsurTech · UK
2020
Diffblue
DevTools · UK
2022
Elliptic
Fintech · UK
2019
Oviva
HealthTech · UK
2016

Realized

3 exits
CompanyEntryExitTypeBuyerMOIC
Grapeshot
AdTech · UK
20142018Trade SaleOracle–
Locum's Nest
HealthTech · UK
20172025Trade SaleAya Healthcare–
Process Systems Enterprise
Software · UK
20072019Trade SaleSiemens10.0x

About Albion Capital

Albion Capital is one of the UK's longest-running deep-tech venture capital trust managers with approximately £1 billion of assets under management as of December 2024 (six VCTs c.£400 million plus OLIM Investment Managers subsidiary c.£440 million plus institutional funds), headquartered in London. The firm was founded in 1996 as Close Ventures by Patrick Reeve at Close Brothers before spinning out via management buyout in 2009 to form Albion Capital Group LLP. Six VCTs were consolidated into three via mergers effective December 2024 (Albion Technology and General, Albion Crown, Albion Enterprise).

Investment thesis

Albion Capital deploys capital through three merged flagship VCTs plus five institutional vehicles (Albion Frontiers Strategy, AGOL, ACP, ARAF, ACC), targeting a dual approach across VCTs (retail) and Institutional Funds (pre-seed to growth-stage). Sector focus spans deep tech (hardware, computer science, physical sciences), software and SaaS, healthcare (healthtech and life sciences) and infrastructure. Geographic deployment is UK-focused, with the platform anchored by Quantexa as flagship holding and a 100 plus exits track record across the VCT vintages.

Recent activity

Recent realised exits include cybersecurity and software (2024), data analytics partial exit (2025) and healthtech (2025). Recent investments include Kinfolk (HR and agentic AI, February 2026), £11 million VCT top-up raised first day (November 2025) and £90 million oversubscribed deep-tech and healthcare fund close. The platform continues active deployment across the VCT and institutional fund strategies.

Frequently asked questions

What investment strategy does Albion Capital focus on?
Albion Capital focuses on VC, Growth strategies in the private equity space.
How many portfolio companies does Albion Capital have?
Albion Capital has 42 active portfolio companies and 15 completed exits and 2 funds tracked on GP Intel.
Where is Albion Capital headquartered?
Albion Capital is headquartered in London, United Kingdom.
What is Albion Capital's assets under management?
Albion Capital manages approximately €1.2B in assets under management.
When was Albion Capital founded?
Albion Capital was founded in 1996.
What sectors does Albion Capital invest in?
Albion Capital invests across Healthcare, Software, Financials, Energy.
What are Albion Capital's recent exits?
Recent realized exits by Albion Capital include: Seldon (2026) to TrueFoundry; Accelex (2025) to Carta; Black Swan Data (2025) to Mintel; Humanloop (2025) to Anthropic; Locum's Nest (2025) to Aya Healthcare; Brytlyt (2024) to Opensignal; Egress (2024) to KnowBe4; Ophelos (2023) to Intrum.
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Last updated August 2026 · Sourced from public filings · Report an issue