What Corten Capital does

Corten Capital is a London-based private equity firm founded in 2020 that invests exclusively in B2B software, tech-enabled services, and information services companies across Europe and North America. The firm is registered as Corten Advisors UK LLP and operates from 25 Golden Square, London, under FCA regulation (Reference 911710). Corten runs two committed-capital funds: Corten Capital I, which closed at €512 million (up from a €392M initial close in June 2020 following a €120M expansion in October 2021), and Corten Capital II, which held its final close in May 2024 at €680 million. Both funds are backed by university endowments, family offices, and charitable foundations, alongside a "friends and family" investor group with decades of co-investment history with the founders.

The firm's revenue model is typical of a private equity sponsor: recurring management fees on committed capital (industry standard 1-2% annually) plus performance-based carried interest on successful exits. Corten's economic engine is fund management rather than product sales, with deployment of capital into control investments in operating companies being the primary activity. Portfolio companies include Matrix42 (Digital Workspace Management, Frankfurt, acquired July 2021 from EMERAM Capital Partners), Ekco (cloud and cybersecurity, Dublin, acquired October 2022), Cobuilder (construction data software, Oslo, acquired October 2024), Roima (manufacturing and supply-chain software, Espoo, acquired October 2024), and Beacon (life sciences R&D data and workflow platform, carved out of Hanson Wade, announced May 2026 from Graphite Capital). Portfolio companies operate as distinct product/business units serving specific industry verticals, with Corten providing capital, strategic guidance, and operating support through its investor-operator team.

Corten differentiates on three axes: (1) exclusive sector focus on B2B software and information services, (2) an investor-operator team of approximately 25 members that includes former partners from Warburg Pincus, Bain Capital, and PSG Equity alongside senior industry executives from Experian, Inmarsat, PepsiCo, and Citrix, and (3) a high-conviction, limited-deal approach. The co-founders — Joseph Schull, Simon Begg, Don Robert, and Andrew Sukawaty — all serve on the Investment Committee, and Sukawaty also serves as a director of Viasat (until May 2025), Robert as Chairman of the London Stock Exchange Group. Go-to-market for fund-raising is direct institutional relationship management rather than intermediated distribution.

Name

Corten Capital

Legal name

Corten Advisors UK LLP

Website

https://cortencapital.com

Company type

Private

Founded year

2020

Operating status

Operating

Headcount range

11–50 employees

Short description

Corten Capital is a London-based private equity firm founded in 2020 that invests with high conviction in a limited number of B2B software, tech-enabled services, and information services companies across Europe and North America, currently managing €1.19 billion across two funds backed by endowments, family offices, and foundations.

Ownership category

akta.pro rank

Headquarters

HQ city

London

HQ country

United Kingdom

HQ region

Europe

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales

Revenue model

1. Management Fees: Private equity firms typically charge management fees on committed capital under management (AUM), typically 1-2% annually. Corten Capital I was capitalized at €512M.
2. Carried Interest: Performance-based fees earned on profits from successful fund investments, typically 20% of returns above a hurdle rate. This is the primary value driver for PE firms.

Go-to-market motion2 records

Distribution channels2 records

Marketing channels4 records

Core offering

Corten Capital is a specialist private equity firm that raises capital from institutional investors through its investment funds (Corten Capital I and Corten Capital II) and deploys that capital into control buyouts and growth investments in B2B software, tech-enabled services, and information services companies across Europe and North America. The firm partners with entrepreneurial management teams to build market-leading businesses, providing patient capital, strategic guidance, operational support, and industry knowledge. Revenue is generated through management fees on committed capital and carried interest on profitable exits.

Product overview

Corten Capital is a private equity firm that partners with management teams to build market-leading B2B Software & Services businesses across Europe and North America. Rather than offering a unified product platform, the firm operates two investment funds (Corten Capital I and II) that have acquired and support portfolio companies. Corten Capital I comprises Ekco (cloud and cybersecurity) and Matrix42 (Digital Workspace Management). Corten Capital II includes Cobuilder (construction industry data software), Roima (Nordic manufacturing and supply-chain software), and Beacon (life sciences R&D data platform). Each portfolio company operates as a distinct product/business unit serving specific industry verticals.

Differentiator

Problem solved

Functional benefit

Products and services

• Corten Capital I Corten Capital's debut private equity fund targeting B2B software, tech-enabled services, and information services companies across Europe and North America. Closed at €512 million and has backed two platform companies to date: Ekco (cloud and cybersecurity) and Matrix42 (Digital Workspace Management).
• Corten Capital II Corten Capital's second private equity fund focused on B2B software, tech-enabled services, and information services companies across Europe and North America. Closed at €680 million and has backed two platform companies to date: Cobuilder (construction data) and Roima (manufacturing and supply-chain software), with Beacon (life sciences R&D data platform) also acquired.

Quantifiable outcome

• Corten Capital I closed at €512M (above target of €392M)
• +2 more outcomes

Named customers5 records

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Five partnerships are on record, tiered core.

• CobuildercoreStrategic or Co-development Partner · 1 October 2024Corten Capital invested in Cobuilder, a founder-led Norwegian provider of data and collaboration software solutions for the construction industry. Founded in 1997 in Oslo, Cobuilder has become the 'go-to' provider for digitalisation needs of the construction industry in Norway.
• RoimacoreStrategic or Co-development Partner · 6 August 2024Corten Capital invested in Roima, a leading Nordic provider of manufacturing and supply-chain software and services with presence across Finland (HQ in Espoo), Denmark, and Sweden. Founded in 2014, the company provides mission critical software for manufacturing execution, warehouse operations, supply chain planning, and B2B commerce.
• EfectecoreStrategic or Co-development Partner · 11 April 2024Matrix42 (Corten Capital portfolio company) completed acquisition of Efecte, a leading European ITSM and ESM software provider. Matrix42 appointed Niilo Fredrikson as CEO following the acquisition.
• EkcocoreStrategic or Co-development Partner · 28 October 2022Corten Capital invested in Ekco, an entrepreneurial, founder-led European cloud and cybersecurity provider headquartered in Dublin. Corten's investment enables Ekco to pursue its growth journey while continuing to enhance its exceptional service for customers.
• Matrix42coreStrategic or Co-development Partner · 28 July 2021Corten Capital invested in Matrix42, a leading provider of Digital Workspace Management software headquartered in Frankfurt, Germany. Corten's investment enables Matrix42 to accelerate its internationalisation and complete its transition to a subscription and cloud-based revenue model.

Scale indicators6 records

Recent moves7 records

Expansion highlights6 records

Direct peers

• Hg (Hg Capital): Hg is a London-based private equity firm specializing in software and services investments across Europe. It is the closest direct competitor to Corten Capital, sharing a similar B2B software thesis, sector focus, fund size band, and investor-operator approach.
• Insight Partners: Insight Partners is a global software-focused investment firm that combines venture, growth, and buyout investing. It overlaps directly with Corten Capital's B2B software focus across Europe and North America.
• PSG Equity: PSG Equity is a growth equity firm focused on software and tech-enabled services companies. Several Corten team members previously worked at PSG (Niklas Nikolai as SVP), and the firms share an identical sector thesis.
• Accel-KKR: Accel-KKR is a technology-focused private equity firm investing in software and tech-enabled services. Corten partner Clay Gibson previously worked at Accel-KKR, and the firms pursue the same mid-market B2B software and services thesis.
• Bridgepoint Group: Bridgepoint is a major European mid-market private equity firm with significant software and tech-enabled services exposure. Corten's CFO previously worked at Bridgepoint, and both firms operate at similar fund sizes in the European mid-market.
• EQT Partners: EQT is a Nordic-headquartered global investment firm with deep software and tech-enabled services investing. Corten partner Niklas Nikolai previously worked at EQT, and Corten's Nordic portfolio (Roima, Cobuilder) competes directly in EQT's home geography.
• Graphite Capital: Graphite Capital is a UK mid-market private equity firm. It sold Beacon to Corten Capital in 2026, demonstrating a direct commercial relationship as well as overlapping investment theses in UK information services and B2B software.
• EMERAM Capital Partners: EMERAM Capital Partners is a German mid-market private equity firm. It sold Matrix42 to Corten Capital in 2021, demonstrating a direct relationship and overlapping DACH-region B2B software investing focus.

Broad incumbents

• Vista Equity Partners: Vista Equity Partners is the world's largest enterprise software-focused private equity firm. It competes for the same B2B software assets as Corten but at much larger scale and primarily in North America.
• Thoma Bravo: Thoma Bravo is one of the largest software-focused private equity firms globally. It targets the same B2B software category as Corten but typically at much larger enterprise software companies.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks5 records

Key highlights6 records

Customer concentration

• LinkedInuk.linkedin.com/company/corten-capital

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles13 records

Subsidiaries5 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A3 records

Investments1 record

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Corten Capital