Forestay Capital
Forestay Capital is a Geneva-based private venture capital firm and enterprise software fund of B-FLEXION, writing $10-20M Series A-C tickets in Enterprise AI and SaaS companies across Europe, Israel, and the U.S. East Coast.
- Company typePrivate
- Founded2018
- HeadquartersGenève, Switzerland
- Headcount11–50
- GTM typeB2B
- OfferingServices
What Forestay Capital does
Forestay Capital is a private venture capital firm headquartered in Geneva with additional offices in London, Jersey and Dublin. Founded in 2018 as the enterprise software fund of B-FLEXION — the Bertarelli family's private investment group with heritage of building Serono into the third-largest biotech globally before its merger with Merck KGaA — Forestay invests growth capital in early-stage Enterprise AI and SaaS companies (typically Series A-C) across Europe, Israel and the U.S. East Coast. Initial tickets of $10-20M are written with significant reserves reserved for follow-on rounds; the firm is concentrated in its portfolio approach and participates as both lead and co-investor.
The firm's portfolio of approximately 23 companies spans AI/ML platforms, data infrastructure, cybersecurity, productivity and automation, and vertical SaaS across industries including tax technology (Fonoa), enterprise procurement (Pivot), engineering intelligence (Neural Concept), market intelligence (Datavations, Fornova), pricing optimization (Buynomics), legal AI (Luminance), cloud storage (Wasabi), data lineage (Manta), autonomous mobility (BlueBotics, Scandit), fleet maintenance (Stratio), digital staffing (Zenjob), and medical imaging AI (Icometrix). Several portfolio companies have achieved unicorn status (Wasabi, Scandit, Nexthink) and multiple exits have been realized (Veriti, Manta, Icometrix, BlueBotics, Mobeewave).
Forestay earns revenue via traditional VC economics — management fees on committed capital plus carried interest on realizations — though it does not disclose financials. A 12-person team including a Managing Partner with prior CDO experience at Serono, Merck KGaA and B-FLEXION, partners and principals drawn from Pictet, HarbourVest, McKinsey, PwC, Strategy&, AXA Venture Partners, Alliance VC and Deutsche Bank, plus a PhD-level Data Science Manager from EPFL and Facebook Applied ML, supports deal sourcing, deep due diligence, and active portfolio engagement across the firm's four core themes (AI/ML Infrastructure, Data Infrastructure, Cybersecurity, Productivity & Automation).
Forestay Capital firmographics
Firmographics- Name
- Forestay Capital
- Legal name
- B-FLEXION Fund Management (Jersey) Limited
- Website
- https://forestay.vc
- Company type
- Private
- Founded year
- 2018
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- Forestay Capital is a Geneva-based private venture capital firm and enterprise software fund of B-FLEXION, writing $10-20M Series A-C tickets in Enterprise AI and SaaS companies across Europe, Israel, and the U.S. East Coast.
- Ownership category
- akta.pro rank
Forestay Capital industry classification
Industry- Product category
- Venture Capital / Growth Equity Investing
- NAICS
- Portfolio Management and Investment Advice (52394), All Other Financial Investment Activities (52399), Other Investment Pools and Funds (5259)
- SIC
- Investment Advice (6282), Security Brokers, Dealers & Flotation Companies (6211)
- akta.pro primary industry
- Early-Stage Venture Capital (Series A/B) (FSANAAAB)
- akta.pro secondary industry
- Technology & Software Growth Equity (FSANACAA)
Keywords
Where Forestay Capital is headquartered
LocationHeadquarters
- HQ city
- Genève
- HQ country
- Switzerland
- HQ region
- Europe
Offices4 records
Markets served
Forestay Capital business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Personnel, Operations, Marketing or Sales, Technology or R&D, Infrastructure
Distribution channels1 record
Marketing channels6 records
Forestay Capital product offering
Product offeringCore offering
Forestay Capital provides growth-stage equity capital to Enterprise AI and SaaS companies, typically leading or co-leading Series A through C rounds with initial tickets of $10–20M and reserves for follow-on investments. The firm invests across Europe, Israel, and the US East Coast, offering portfolio companies sector expertise, scaling support, and access to the B-FLEXION (Bertarelli family) network. It performs disciplined due diligence and works actively with founders from early revenue stages through market leadership.
Product overview
Forestay Capital is an enterprise software investment firm providing growth capital to category-defining companies. The firm does not offer a unified product platform but instead provides investment services and portfolio support. Forestay focuses on Enterprise AI & SaaS investments across Europe, Israel, and the US East Coast, typically writing $10-20M initial tickets in Series A-C rounds. The firm offers sector and scaling expertise to portfolio companies and performs deep due diligence. The portfolio comprises 23 companies spanning AI/ML platforms, data infrastructure, cybersecurity, productivity & automation, and vertical SaaS across industries including tax technology, procurement, engineering intelligence, legal tech, cloud storage, fleet management, and digital staffing.
Differentiator
Problem solved
Functional benefit
Products and services
- Enterprise AI & SaaS Growth Equity Fund Venture and growth-stage equity investment offering for Enterprise AI and SaaS companies, structured as $10–20M initial tickets (typically Series A–C) with reserves for follow-on, plus active sector and scaling support delivered by enterprise software investors. The fund is offered to founders and CEOs of target companies seeking capital and operating expertise to reach category leadership within five years.
Companies that use Forestay Capital
Customer profileSegments1 record
Ideal customer profiles1 record
Forestay Capital technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Forestay Capital partnerships and signals
Strategic signalScale indicators4 records
Recent moves6 records
Expansion highlights6 records
Forestay Capital competitors and assessment
Company assessmentDirect peers
- Highland Europe: European growth-stage technology investor writing $25-150M tickets in category-leading software businesses, comparable to Forestay's growth-stage Series B-C enterprise software focus.
- Atomico: European tech-focused VC founded by Skype's Niklas Zennström, investing from Series A onward across Europe and Israel — overlapping with Forestay in geography, stage, and category breadth.
- Notion Capital: European B2B SaaS-focused growth investor active at Series A-B, co-led Pivot's $40M Series B with Forestay, making it a directly comparable peer in stage, geography, and sector focus.
- Dawn Capital: Europe's largest specialist B2B SaaS-focused VC, investing in Series A and B rounds across enterprise software with concentrated portfolios — the closest functional analog to Forestay's Enterprise AI & SaaS Series A-C strategy in Europe.
- Headline: Global early- and growth-stage VC with strong European footprint; led Fonoa's $110M Series C alongside Forestay, sharing similar Series A-C SaaS/enterprise focus and European base.
- Balderton Capital: UK-based leading Series A venture firm focused on European technology companies, with significant overlap in stage and sector — directly comparable in fund-size, geography, and B2B software emphasis.
Emerging players
- Speedinvest: Austrian early-stage European VC with a dedicated enterprise/SaaS vertical; comparable as a thematic European tech investor, though earlier-stage and smaller-check than Forestay.
Broad incumbents
- Eurazeo: European-listed private equity and growth investor with deep tech allocation; co-invested in Fonoa Series C — comparable as a broader growth equity player with European footprint.
- Index Ventures: Global venture firm investing from seed to growth across enterprise and consumer; participated in Fonoa's Series C alongside Forestay — a larger, multi-stage incumbent with overlapping enterprise software mandate.
- Insight Partners: Large-scale global growth equity investor in enterprise software; led Veriti's Series A and frequently co-invests in Forestay's portfolio — a broader incumbent operating at higher check sizes and later stages.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks5 records
Key highlights7 records
Customer concentration
Forestay Capital social profiles
Digital presenceForestay Capital financial estimates
Financial estimateRevenue estimate
Valuation estimate
Forestay Capital leadership team
Management profileNumber of profiles
Profiles12 records
Forestay Capital funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Forestay Capital M&A and investment
M&A and investmentM&A
Investments34 records
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Forestay Capital
What does Forestay Capital do?
Forestay Capital provides growth-stage equity capital to Enterprise AI and SaaS companies, typically leading or co-leading Series A through C rounds with initial tickets of $10–20M and reserves for follow-on investments. The firm invests across Europe, Israel, and the US East Coast, offering portfolio companies sector expertise, scaling support, and access to the B-FLEXION (Bertarelli family) network. It performs disciplined due diligence and works actively with founders from early revenue stages through market leadership.
Is Forestay Capital a public or private company?
Forestay Capital is a private company. It is classified as corporate owned and is currently operating.
When was Forestay Capital founded?
Forestay Capital was founded in 2018. It employs 11 to 50 people.
Where is Forestay Capital based?
Forestay Capital is headquartered in Genève, Switzerland, in the Europe region.
Who are Forestay Capital's main competitors?
Direct peers on record are Highland Europe, Atomico, Notion Capital, Dawn Capital, Headline and Balderton Capital. Speedinvest is listed as an emerging player. Broad incumbents are Eurazeo, Index Ventures and Insight Partners.
Does Forestay Capital have an API?
No public API is recorded for Forestay Capital.
What industry is Forestay Capital in?
Forestay Capital's product category is Venture Capital / Growth Equity Investing. Its primary akta.pro industry code is FSANAAAB, Early-Stage Venture Capital (Series A/B), with a secondary code of FSANACAA, Technology & Software Growth Equity. Its NAICS code is 52394 and its SIC code is 6282.