Vitruvian Partners Explained

Vitruvian Partners
Type:Private
Founders:Founding Partners: Ian Riley (Advisory Partner), Michael Risman, Toby Wyles (Retired) Mark Harford (Retired), David Nahama.
Key People:Joined founding team: Stephen Byrne, Ben Johnson, Jussi Wuoristo
Industry:Private Equity
Products:Leveraged buyouts and growth capital
Assets:VIP I: €925 million, VIP II: £1 billion, VIP III: €2.4 billion, VIP IV: €4 billion, VIP V: €7.3 billion.
Num Employees:>100
Homepage:www.vitruvianpartners.com
Location:London, United Kingdom / Munich, Germany / Stockholm, Sweden / Luxembourg, Luxembourg / Madrid, Spain / Miami, United States / Mumbai, India / Shanghai, China / Singapore, Singapore / San Francisco, United States

Vitruvian Partners is a global private equity firm, focusing on growth buyout and growth capital investments in middle-market companies.

Vitruvian invests throughout Europe, the U.S. and Asia. The firm has offices in London, Munich, Madrid, Miami, Mumbai, Stockholm, Shanghai, Singapore, San Francisco and Luxembourg.

The firm was founded in 2006 by former partners of Apax Partners, BC Partners and Bridgepoint Capital. In 2008, Vitruvian completed the fundraising for its inaugural €925 million fund, the Vitruvian Investment Partnership I ("VIP I").[1] In December 2013, Vitruvian announced that it had closed the fundraising of its second fund, Vitruvian Investment Partnership II (“VIP II”), at its self-imposed cap of £1 billion ($1.6 billion; €1.2billion).[2] In June 2017, Vitruvian announced that it had closed the fundraising of its third fund, Vitruvian Investment Partnership III (“VIP III”), at the hard cap of €2.4 billion.[3] In July 2020 Vitruvian announced the closing of Vitruvian Investment Partnership IV (“VIP IV”) at the hard cap of €4.0 billion.[4] In September 2024 Vitruvian announced the closing of Vitruvian Investment Partnership V ("VIP V") at the hard cap of €7.3 billion.

In an annual study of the long-term performance conducted by Dow Jones/HEC Vitruvian was ranked in the Top 1% of GPs (General Partners) globally for the third year running.https://www.hec.edu/en/news-room/hec-paris-dowjones-2022-large-buyout-performance-rankings-show-stronger-presence-european-firms-global-top-20

Investments

CompanyFundDate InvestedDate SoldHeadquartersDescription
Tinopolis[5] VIP IJul-08Oct-17[6] United KingdomIndependent TV production house
Callcredit[7] VIP IDec-09Feb-14[8] United KingdomProvider of credit reference and marketing
Inspired Gaming[9] VIP IJul-10Jul-16[10] United KingdomLand-based gaming products to licensed betting shops, bingo operators and casinos
Openbet[11] VIP IJan-11Apr-16[12] United KingdomOnline gaming and betting
Verastar[13] (pka Unicom[14])VIP IApr-11United KingdomReseller of business services to the UK micro SME market
Group IMD[15] (pka Independent Media Distribution)VIP IMay-11Sep-16United KingdomTV & Radio advertising & digital media
Benify (pka Flexpay)VIP IJun-11Swedenemployee engagement software
Instinctif Partners[16] (pka College Group)VIP IOct-11Sept-19
United KingdomBusiness communications consultancy headquartered in London and with offices on five continents
Healthcare at Home[17] VIP IFeb-12United KingdomProvider of clinical and pharmaceutical services to patients in homes
Just Eat[18] VIP IApr-12IPO Mar-14[19] United Kingdom / Denmarkonline takeaway ordering service. Floated on the London Stock Exchange in April 2014
Snow Software[20] VIP IIJul-12Partial Realisation Apr-17[21] SwedenSoftware asset management
Inenco Group[22] VIP ISep-13United Kingdomstrategic energy management
RL360°[23] VIP INov-13Isle of ManSpecialist international life assurance provider
Linimed-Fazmed[24] VIP IIMar-14Jul-18Germanyambulatory outpatient intensive care services in the eastern part of Germany
Farfetch[25] VIP IIApr-14United KingdomOnline market place for fashion boutiques
JacTravel[26] VIP IIJul-14Sep-17United KingdomB2B hotel room marketplace
Solvinity[27] (pka ASP4all Bitbrains)VIP IIJul-14Netherlandsmanaged hosting and cloud services
CRF Health[28] VIP IIJan-15Finland / United States of AmericaLeading provider of electronic Clinical Outcomes Assessment (“eCOA”) for clinical trials
Trustpilot[29] VIP IIMay-15Denmark / United StatesGlobal, multi-language open review community
Voxbone[30] VIP IIAug-15BelgiumCloud-based provider of international voice over internet protocol (VoIP) services
Ebury[31] VIP IINov-15United KingdomCurrency and lending to European SMEs
Accountor[32] VIP IIDec-15FinlandFinance and accounting software and services to the SME market across the Nordics
Skyscanner[33] VIP IIDec-15Dec-16United KingdomGlobal travel metasearch engine
Unifaun[34] VIP IIFeb-16Swedenprovider of transport management software to shippers and carriers
SnapLogic[35] VIP IIDec-16United StatesSelf service integration software
Phlexglobal[36] VIP IIDec-16United Kingdomclinical trial master file
Vestiaire Collective[37] VIP IIJan-17FranceLeading European online marketplace for pre-owned luxury fashion items
OAG[38] VIP IIFeb-17United KingdomAviation information provider
EasyParkVIP IIIDec-17NorwayParking marketplace
Sykes Cottages Ltd[39] VIP IIIOct-19United KingdomVacation Rental Management Company

Notes and References

  1. http://www.altassets.com/private-equity-news/article/nz12793.html Vitruvian Partners closes inaugural fund on €925m
  2. Web site: UK investor Vitruvian raises USD1.6 billion in fundraising for second fund. Venture Capital Post. 5 December 2013. 23 May 2016.
  3. News: Vitruvian raises €2.4bn in latest sign of buoyant private-equity market. Financial Times. 30 June 2017. Espinoza. Javier.
  4. Web site: Pai. Laxman. 3 August 2020. Vitruvian Partners races to $4.7bn hard cap close for the new fund. 22 January 2021. Opalesque.
  5. Web site: Consortium eyes Tinopolis for £44.7m . Sweney . Mark . 9 May 2008 . The Guardian . 20 May 2016.
  6. News: Vitruvian sells its shareholding in leading independent content company Tinopolis - Vitruvian. 2017-10-23. Vitruvian. 2017-12-04. en-GB.
  7. Web site: Private equity group GTCR acquires UK's Callcredit . https://web.archive.org/web/20160617154230/http://uk.reuters.com/article/uk-callcredit-loans-idUKBREA1G0Z820140217 . dead . June 17, 2016 . Ruckin . Claire . Hutchinson . Clare . 17 Feb 2014 . Reuters . 20 May 2016.
  8. Web site: Chicago's GTCR beats European buyout bids for Callcredit . Macfarlane . Alec . 17 Feb 2014 . Financial News . 23 May 2016.
  9. Web site: Inspired Gaming agrees £74.4 million takeover . https://web.archive.org/web/20160617163405/http://uk.reuters.com/article/uk-inspired-gaming-idUKTRE64310F20100504 . dead . June 17, 2016 . Young . Sarah . 4 May 2010 . Reuters . 23 May 2016.
  10. Web site: Inspired Gaming Snapped Up By Hydra For £200 Million . Menmuir . Ted . 14 July 2016 . SBCNEWS . 22 June 2017.
  11. Web site: OpenBet in £208m management buy-out . Osbourne . Alistair . 13 Jan 2011 . Telegraph . 23 May 2016.
  12. News: William Hill invests £90m in new OpenBet owner . Martin . Ben . 5 Apr 2016 . Telegraph . 23 May 2016.
  13. Web site: Unicom undergoes MBO in major deal . 31 May 2011 . Comms Dealer . 23 May 2016.
  14. Web site: Unicom's Parent Company Universal Utilities Renames to VERASTAR . Jackson . Mark . 15 Oct 2015 . ISP Review . 23 May 2016.
  15. Web site: IMD accepts £33.9m offer from Vitruvian . 28 Feb 2011 . Stock Market Wire . 23 May 2016.
  16. Web site: Vitruvian buys high-end PR firm . Edgecliffe-Johnson . Andrew . 9 Oct 2011 . Financial Times . 23 May 2016.
  17. Web site: Vitruvian invests in Healthcare at Home . Cooper . Rachel . 2 Feb 2012 . Telegraph . 23 May 2016.
  18. Web site: Just-Eat Just Raised Another $64M From Vitruvian, Index, Greylock For Online Food Ordering . Lunden . Ingrid . 30 Apr 2012 . Tech Crunch . 23 May 2016.
  19. Web site: Just Eat shares rise on stock market debut . Julia . Kollewe . 3 Apr 2014 . The Guardian . 23 May 2016.
  20. Web site: Vitruvian Partners investerar i Snow Software . 28 Aug 2012 . My News Desk . 23 May 2016.
  21. Web site: Vitruvian-backed Snow Software receives further funding . Riordan . Darragh . 28 April 2017 . realdeals . 22 June 2017.
  22. News: Vitruvian Partners to Buy Inenco From Cinven-Backed Enserve . Porter . Kiel . 16 Jun 2013 . Bloomberg.com . 23 May 2016.
  23. Web site: Royal London set to sell offshore business . Steger . Alex . 13 Nov 2013 . City Wire . 23 May 2016.
  24. Web site: Englischer Investor kauft sich in die Intensivpflege in Thüringen ein. . Voshage . Peter . 10 Apr 2014 . Pflegemarkt . 23 May 2016.
  25. Web site: Farfetch, an Online Boutique, Enjoys Its Moment . Koblin . John . 30 Apr 2014 . NY Times . 23 May 2016.
  26. Web site: Deals of the day: Wickr raises $30 million . Primack . Dan . 26 Jun 2014 . Fortune . 23 May 2016.
  27. Web site: Deals of the day: GE to sell home appliance unit? . Primack . Dan . 17 Jul 2014 . Fortune . 23 May 2016.
  28. Web site: CRF Health Announces Receipt of Regulatory Approvals and Completion of Investment by Vitruvian Partners . 2 Feb 2015 . PR Newswire . 23 May 2016.
  29. Web site: Trustpilot Raises $73.5 Million for Credible Reviews of Businesses Online . Kolodny . Lora . 28 May 2015 . Wall Street Journal . 23 May 2016.
  30. Web site: Vitruvian Takes Majority Stake in Voxbone . 20 Aug 2015 . Wall Street Journal . 23 May 2016.
  31. Web site: Ebury raises $83m from Vitruvian Partners and 83North . Grandhi . Kedar . 18 Nov 2015 . IB Times . 23 May 2016.
  32. Web site: Accountor announces investment by Vitruvian Partners to support its future growth . 7 Oct 2015 . Accountor . 23 May 2016.
  33. Web site: Travel firm Skyscanner secures major investment . 12 Jan 2016 . BBC . 23 May 2016.
  34. Web site: Bridgepoint Development sells Unifaun to Vitruvian . Rogan . Stephanie . 11 Feb 2016 . PE Hub Network . 23 May 2016.
  35. Web site: SnapLogic snaps up another $40 million . Miller . Ron . 7 Dec 2016 . TechCrunch . 22 Jun 2017.
  36. Web site: Phlexglobal Reveals New Majority Shareholder . Patel . Karishma . 15 Dec 2016 . Insider Media Limited . 22 Jun 2017.
  37. Web site: Vestiaire Collective Closes €58m Financing Round . 24 Jan 2016 . FINSMES . 22 Jun 2017.
  38. Web site: Vitruvian Partners acquires TravelTech firm OAG for $215m . Daniel . Beth . 16 Feb 2017 . Tech City News . 22 Jun 2017.
  39. Web site: Vitruvian buys Sykes Holiday Cottages for £375m . 29 Oct 2019 . Northern Financial Review.

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