Magnesium Capital
Magnesium Capital LLP (FCA FRN 653174) is a London-based private equity firm founded in 2014 by Ian Jones and Matts Lundgren. The firm specialises in buyouts of profitable European mid-market companies enabling the energy transition, targeting technology-enabled and tech-led service businesses in energy efficiency, grid resilience and industrial decarbonisation. Magnesium Capital I closed at its hard cap of EUR 135m in April 2024, attracting blue-chip institutional investors from the US, Europe and the UK. Since inception the firm has completed seven platform investments and exited two for a combined 4.2x gross MOIC.
Key facts
Recent exits
Coverage notes
1 fund tracked, 8 portfolio companies (4 active · 4 realized). Verified weekly from public filings and deal announcements.
Sector breakdown
8 companiesFunds & portfolio
Every fund Magnesium Capital has raised, with its portfolio companies. Hand-checked from public filings.
Magnesium Capital IBuyout2023 · 3yr€135M4 active · 4 realized
Unrealized
4 held| Company | Sector | Geo | Entry |
|---|---|---|---|
| Software |  UK | 2025 | |
| Software |  Norway | 2020 | |
| Energy |  Denmark | 2023 | |
| Software | Denmark | 2023 |
Realized
4 exits| Company | Sector | Geo | Entry | Exit | Type | Buyer | MOIC |
|---|---|---|---|---|---|---|---|
| Software | UK | 2019 | 2026 | Trade Sale | |||
| Software | UK | 2016 | 2019 | Trade Sale | – | ||
| Energy |  United States | 2020 | 2026 | Trade Sale | – | ||
| Software | United States | 2018 | 2021 | IPO | – | – |
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About Magnesium Capital
Magnesium Capital is a pure-play energy-transition private equity specialist with approximately €135 million of assets under management as of December 2024 (inaugural Fund closed oversubscribed at €135 million hard cap in April 2024), headquartered in London's Mayfair. The firm was founded in 2014 by a team with private-equity and operating backgrounds across energy, technology and industrials, operating as a partner-owned LLP.
Investment thesis
Magnesium Capital deploys capital through approximately one to two funds (Fund I closed 2024 plus predecessor and advisory deals), targeting energy-transition private equity in the European mid-market focused on technology and tech-led service companies enabling reliable and secure energy production, grid resilience and flexibility and responsible consumption and resource efficiency. Sector focus spans energy transition technology, building and electrical power management systems, power-to-heat and electrification, grid infrastructure technology, SCADA and data and resource efficiency. Geographic deployment is Europe (European-HQ companies with international expansion potential) including UK and Nordics.
Recent activity
Recent realised exits include smart energy storage (2021, earlier), with no 2024-2026 exits disclosed as the inaugural fund is in active deployment. Recent acquisitions include building management systems and data-centre energy solutions (2025) and power-to-heat and electrification (2023). The platform continues active deployment of Fund I across the energy-transition mandate. Detailed buyer names and multiple data available on Pro at €29/month.
Investment team
Senior partners. Hand-checked from public filings and the firm's own site.
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