What investment strategy does FPE Capital focus on?

FPE Capital focuses on Growth strategies in the private equity space.

How many portfolio companies does FPE Capital have?

FPE Capital has 14 active portfolio companies and 6 completed exits and 3 funds tracked on GP Intel.

Where is FPE Capital headquartered?

FPE Capital is headquartered in London, United Kingdom.

When was FPE Capital founded?

FPE Capital was founded in 2015.

What sectors does FPE Capital invest in?

FPE Capital invests across Software, TMT, Business Services.

What are FPE Capital's recent exits?

Recent realized exits by FPE Capital include: Zest (2025) to Epassi Group; Intragen (2025) to Nomios; Optimity (2025) to Vorboss; Masstech (2021) to Telestream, 2.6x; Questionmark (2021) to Learnosity, 3.5x; TNP (2021) to Node4, 5.6x.

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FPE Capital

London, United Kingdom·Founded 2015·

Growth Equity

·fpecapital.com

FPE Capital LLP is a London-based lower-mid-market growth private equity firm investing exclusively in profitable UK and Irish B2B software, data and software-services companies with revenues of GBP 5m to 50m. The firm spun out of multi-family office Stonehage Fleming as an independent manager in 2016 and has raised three institutional funds: Fund I (GBP 100m, 2017), Fund II (GBP 101m, 2019) and Fund III (GBP 185m, 2022). FPE Capital LLP is authorised and regulated by the UK Financial Conduct Authority. Fund sizes are stated in GBP and converted to EUR at 1.17.

AUM

–

Funds

vintages 2017–2022

Portfolio

Exits

FPE Capital is a London growth equity firm with 14 active companies and 6 exits.

SectorsSoftware TMT Business Services

Key takeaways

·6 exits in the last 5 years · consistent DPI cadence.
·Average hold across 6 realized deals: 5 years.
·Best return: 5.6x MOIC on TNP (2021).
·Fund cadence: ~3Y between vintages · last raise 2022.

Sector breakdown

20 companies

IT Services

4 · 20%

Data & Analytics

3 · 15%

SaaS

2 · 10%

Software

2 · 10%

Cybersecurity

2 · 10%

HealthTech

2 · 10%

Fintech

1 · 5%

FoodTech

1 · 5%

Geography breakdown

2 geographies

19 · 95%

Canada

1 · 5%

Key facts

HQLondon, United Kingdom

Founded2015

Websitefpecapital.com

Recent exits

FPE Capital sold Zest to Epassi Group in 2025 after 4 years.

FPE Capital sold Intragen to Nomios in 2025 after 6 years.

FPE Capital sold Optimity to Vorboss in 2025 after 9 years.

FPE Capital sold Masstech to Telestream in 2021 after 2 years.

2.6x

Partners

Henry SallittManaging Partner

Chris KayPartner

Llewellyn JohnPartner

Dan WalkerPartner

Coverage notes

3 funds tracked, 20 portfolio companies (14 active · 6 realized). Verified weekly from public filings and deal announcements.

Investment team

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

Henry Sallitt

Managing Partner

Chris Kay

Partner

Llewellyn John

Partner

Dan Walker

Partner

Funds & portfolio

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

3 funds

Fund

Strategy

Vintage

Size

Assets

Exits

FPE Fund III

Growth2022€216M10 assets

Growth

2022 · 4yr

€216M

–

Unrealized

10 held

Company	Entry
15gifts SaaS · UK	2022
60 Decibels Data & Analytics · UK	2021
BMA Software · UK	2026
Clearstate Data & Analytics · UK	2025
Dynamic Planner Fintech · UK	2022
Egress Group Cybersecurity · UK	2022
Global App Testing Software · UK	2022
NoBlue2 IT Services · UK	2023
Point74 FoodTech · UK	2024
Stalis HealthTech · UK	2024

FPE Fund II

Growth2019€118M3 assets1 exits

Growth

2019 · 7yr

€118M

Unrealized

3 held

Company	Entry
Codestone IT Services · UK	2021
MaxContact SaaS · UK	2023
Togetherall HealthTech · UK	2020

Realized

1 exit

Company	Entry	Exit	Type	Buyer	MOIC
Zest HR Tech · UK	2021	2025	Trade Sale	Epassi Group	–

FPE Fund I

Growth2017€117M1 assets5 exits

Growth

2017 · 9yr

€117M

Unrealized

1 held

Company	Entry
IWSR Data & Analytics · UK	2018

Realized

5 exits

Company	Entry	Exit	Type	Buyer	MOIC
Intragen Cybersecurity · UK	2019	2025	Trade Sale	Nomios	–
Masstech TMT · Canada	2019	2021	Trade Sale	Telestream	2.6x
Optimity IT Services · UK	2016	2025	Trade Sale	Vorboss	–
Questionmark EdTech · UK	2017	2021	Trade Sale	Learnosity	3.5x
TNP IT Services · UK	2018	2021	Trade Sale	Node4	5.6x

About FPE Capital

FPE Capital is a British private equity and investment platform with capital deployed across 4 active fund vehicles, headquartered in London. The firm operates across multiple alternative strategies, with capital deployed into European businesses across TMT, software, financials, energy, healthcare and business services.

Investment thesis

FPE Capital operates across complementary alternative investment strategies, deploying capital into European businesses across TMT, software, financials, energy, healthcare and business services. The multi-strategy platform enables diversified capital deployment across the business lifecycle from venture and growth equity to mid-cap buyouts, with capital sourced from institutional limited partners and selective family-office capital across the United Kingdom and broader European market.

Recent activity

Realised exits across the current platform vintages remain limited, with the portfolio in active deployment and value-creation phase. The platform tracks 4 fund vehicles, 39 active portfolio companies and 0 realised exits across the strategy's history.

Frequently asked questions

What investment strategy does FPE Capital focus on?: FPE Capital focuses on Growth strategies in the private equity space.
How many portfolio companies does FPE Capital have?: FPE Capital has 14 active portfolio companies and 6 completed exits and 3 funds tracked on GP Intel.
Where is FPE Capital headquartered?: FPE Capital is headquartered in London, United Kingdom.
When was FPE Capital founded?: FPE Capital was founded in 2015.
What sectors does FPE Capital invest in?: FPE Capital invests across Software, TMT, Business Services.
What are FPE Capital's recent exits?: Recent realized exits by FPE Capital include: Zest (2025) to Epassi Group; Intragen (2025) to Nomios; Optimity (2025) to Vorboss; Masstech (2021) to Telestream, 2.6x; Questionmark (2021) to Learnosity, 3.5x; TNP (2021) to Node4, 5.6x.