AnaCap

What AnaCap does

AnaCap Financial Partners is a London-headquartered private equity firm specializing in investments across the European financial ecosystem, targeting lower mid-market Services, Software, and Technology companies. Founded in 2005 (with its legal entity, AnaCap Financial Partners Limited, registered in England and Wales in 2009), the firm operates across 10+ European jurisdictions including the UK, Germany, France, Italy, Spain, the Nordics, Benelux, and Central/Eastern Europe. AnaCap pursues direct investments with equity tickets of €25-100m, partnering with founders and entrepreneurial management teams rather than displacing them, and executing both organic growth and inorganic buy-and-build strategies. The firm's portfolio spans insurance broking and software (MRH Trowe, Edge Group, Cleva, Fintus), wealth management (Quanta Group/Wealthtime, PFS, Milleis), payments (Market Pay, Heidelpay), business intelligence (Ellisphere), digital identity (WebID), property management (Yard Reaas/RYZE), and digital invoicing (EDIGard/Orbyt).

The firm's core proprietary technology is Minerva, a digital intelligence platform that underpins investment origination, pricing, dynamic information flow, and servicing strategies across geographies and asset types, supporting data-intensive analytical and operational asset management capabilities. AnaCap generates revenue through traditional private equity economics, earning management fees on approximately €2bn of assets under management and carried interest on successful portfolio exits. Notable realizations include Oona Health (4x money multiple), MRH Trowe minority stake (4.3x multiple), Ellisphere (2.6x multiple, 52% IRR), Heidelpay (sold to KKR), and First Names Group (2.6x). The firm is FCA-authorized, a UNPRI signatory since February 2019, and led by Managing Partner Nassim Cherchali following a successful succession from founders in 2022, having raised approximately €1bn of capital across the platform since that transition.

Name

AnaCap

Legal name

AnaCap Financial Partners Limited

Website

https://www.anacap.com/

Company type

Private

Founded year

2005

Operating status

Operating

Headcount range

11–50 employees

Short description

AnaCap Financial Partners is a London-based private equity firm specializing in €25-100m equity investments in lower mid-market Services, Software, and Technology companies across the European financial ecosystem, managing ~€2bn in AUM through 14 investment professionals.

Ownership category

akta.pro rank

Product category

Private Equity Investment Management

NAICS

Portfolio Management and Investment Advice (523940), Portfolio Management and Investment Advice (52394)

SIC

Investment Advice (6282)

akta.pro industry

PRIMARYFSAEAGAE

Corporate Finance Advisory (Strategic Finance, Capital Structure & Recaps)

Financial & Insurance/Financial Advisory, Brokerage & Intermediation/M&A Advisory & Corporate Finance

Keywords

• Private equity investing
• Growth capital
• Financial services sector
• European lower mid-market
• Buy-and-build strategy

Headquarters

HQ city

London

HQ country

United Kingdom

HQ region

Europe

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

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

Revenue model

1. Private Equity Management: AnaCap operates as a private equity firm generating returns through management fees on managed assets and carried interest from successful portfolio company exits. The firm has raised approximately €1 billion in capital since 2022.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels3 records

Core offering

AnaCap is a specialist private equity firm investing growth capital of €25-100m per equity ticket into lower mid-market Services, Software and Technology companies across the European financial ecosystem. The firm partners with founders and entrepreneurial management teams to execute organic growth and buy-and-build strategies, deploying capital through dedicated funds including Buyout II (€320m+) and Credit Opportunities Fund II (£350m). AnaCap supplements its capital with sector-specialist operational expertise and proprietary digital intelligence (Minerva platform) across 10+ European jurisdictions.

Product overview

AnaCap Financial Partners is a specialist private equity firm focused on the European financial ecosystem, investing in Services, Software, and Technology companies. Rather than offering a unified product platform, AnaCap operates as a private equity investor with a portfolio of companies across insurance software, payments, wealth management, property management, and RegTech sectors. The portfolio includes portfolio companies that have developed various platforms and solutions: Market Pay (omnichannel payments), Ellisphere (business intelligence with AI-based Darwin platform), Yard Reaas/RYZE (property management with AI-powered AVM and ESG ratings), Edge Group (insurance broking), Quanta Group (wealth management), EDIGard (digital invoice/bill payment SaaS), MRH Trowe (insurance broking), and Fintus (low-code banking automation). These are separate operating companies within AnaCap's portfolio, not integrated product lines.

Differentiator

Problem solved

Functional benefit

Products and services

• AnaCap Buyout II Fund Private equity buyout fund targeting European lower mid-market Services, Software and Technology companies within the financial ecosystem; €25-100m equity tickets; supports organic growth and buy-and-build strategies.
• AnaCap Credit Opportunities Fund II Credit opportunities fund investing in performing loans, non-performing loans (NPLs), and real estate credit across European markets including Italy and Spain.
• AnaCap Financial Services Equity Fund Inaugural financial services equity fund targeting European lower mid-market investments across insurance, wealth management, payments, banking and credit sectors.
• Minerva Digital Intelligence Platform Proprietary data-intensive analytical and operational platform underpinning AnaCap's investment approach across European markets, providing differentiated data analytics and investment sourcing capabilities.

Quantifiable outcome

• Over 50% IRR return achieved on Ellisphere exit
• +2 more outcomes

Named customers4 records

Segments3 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature1 record

Partnerships

Five partnerships are on record, tiered supporting and core.

• KPMGsupportingImplementation/ SI/ Consulting Partner · 17 December 2025KPMG provided tax and financial due diligence advisory for Yard Reaas acquisition of VSA Property Group.
• DeloittesupportingImplementation/ SI/ Consulting Partner · 17 December 2025Deloitte provided transaction structuring advisory for the VSA Property Group acquisition by Yard Reaas.
• OrricksupportingImplementation/ SI/ Consulting Partner · 17 December 2025Legal counsel providing legal aspects advisory for Yard Reaas' investment into VSA Property Group.
• WiprocoreStrategic or Co-development Partner · 1 April 202510-year partnership between Quanta Group (Wealthtime) and Wipro for Business Process Outsourcing (BPO) to streamline operations and deliver enhanced digital-first wealth management platform services.
• GBSTcoreTechnology or Integration · 1 April 2025Technology partnership with GBST to provide advanced technology services enabling clients to receive best-in-class service through an enhanced user-friendly platform within Quanta Group.

Scale indicators6 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• Bridgepoint: Bridgepoint is a major European mid-market PE firm with significant exposure to financial services and business services. Its lower mid-market focus and pan-European deal-making approach are directly comparable to AnaCap.
• Stirling Square Capital Partners: Stirling Square is a London-based mid-market PE firm focused on European business services and financial services. It acquired AnaCap's GTT portfolio company, demonstrating direct overlap in deal sourcing and sector focus.
• Nordic Capital: Nordic Capital is a European PE firm specialising in healthcare, technology, financial services and business services with extensive pan-Nordic and DACH activity. Its sector specialisation model and buy-and-build playbook are highly comparable to AnaCap.
• Hg Capital: Hg is a London-based PE firm specialising in European software and technology-enabled services investments, with deep sector focus analogous to AnaCap's financial ecosystem specialisation. Both target lower mid-market European buyouts with heavy bolt-on strategies.
• Montagu Private Equity: Montagu is a London-based mid-market PE firm with significant financial services exposure. Its size, geographic focus and sector specialisation in financial services make it a directly comparable peer to AnaCap.
• IK Partners: IK Partners (formerly IK Investment Partners) is a European mid-market PE firm with comparable AUM scale and a focus on business services and financial services companies across Europe. Its sub-sector specialisation and lower mid-market strategy closely mirror AnaCap.

Broad incumbents

• TowerBrook Capital Partners: TowerBrook is a London-based PE firm with broad European and US activity, including significant financial services exposure. It is larger and more diversified than AnaCap but competes in overlapping financial services buyouts.
• TA Associates: TA Associates is a global PE firm with significant financial services and technology exposure that has co-invested with AnaCap (MRH Trowe minority stake purchase). It operates at a larger scale but competes in the European financial services lower mid-market.
• Cinven: Cinven is a major European PE firm with significant financial services and business services exposure. While broader and larger in scale, it competes with AnaCap for European financial services buyouts at the upper end of the mid-market.
• Permira: Permira is a major global PE firm with substantial financial services exposure including wealth management and insurance. Its European financial services portfolio overlaps with AnaCap's investment universe, particularly at the larger end of AnaCap's ticket range.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

• Xx.com/anacapllp
• LinkedInlinkedin.com/company/anacap-financial-partners

Revenue estimate

Valuation estimate

Number of profiles

Profiles18 records

Funding overview

Funding rounds

Investors

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

M&A34 records

Investments3 records

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

Frequently asked questions about AnaCap