Hypha

What Hypha does

Hypha is a London-based private equity firm founded in 2024 that invests in founder-owned businesses across the UK and Ireland lower mid-market. The firm, operating as Hypha Partners LLP, is an appointed representative of Langham Hall Fund Management LLP (FCA-regulated). Hypha targets profitable companies with less than £5m EBITDA, deploying initial investments of up to £20m (typical tickets £3m-£15m) for minority or majority equity positions, and aims to make 2-3 investments per year. The firm concentrates on three sectors: technology (vertical SaaS, data analytics, cybersecurity, AI, fintech), healthcare and life sciences, and advanced manufacturing.

Hypha's maiden fund closed at approximately £120m in December 2024, exceeding its £110m hard-cap just five months after a £73m first close in October 2024. The fund's LP base comprises blue chip institutions, endowments, and large family offices from the US, Middle East, and UK. Two confirmed portfolio investments have been announced to date: a majority stake in Ashley Medical Communications (June 2025), a medical education and communications agency serving pharma, biotech, and medical devices, and the acquisition of Pass Tech (February 2026), an EdTech company offering GCSEs, Functional Skills, and equivalency qualifications. The Pass deal was partly financed by a £5m loan from OakNorth Bank.

Hypha was founded by three Foresight Group alumni — Matt Pomroy, Matthew Evans-Young, and Chris Wardle — whose combined 40+ years of PE experience includes prior exits at Codeplay Software (to Intel, 2022), Kingsbridge Healthcare (to Exponent), ONFAB (to Savillex, 2023), and others. The firm expanded its team in late 2025 with four additions covering investment execution and finance. Revenue is generated through management fees on AUM, carried interest on realizations, and investment returns; no realizations have been confirmed to date.

Name

Hypha

Legal name

Hypha Partners LLP

Website

https://hypha.pe

Company type

Private

Founded year

2024

Operating status

Operating

Headcount range

1–10 employees

Short description

Hypha is a London-based private equity firm founded in 2024 that invests £3m-£15m in founder-owned UK and Ireland businesses with under £5m EBITDA across technology, healthcare, and advanced manufacturing sectors.

Ownership category

akta.pro rank

Product category

Private Equity Investment

NAICS

Finance and Insurance (52)

SIC

Finance Services (6199)

akta.pro primary industry

Lower Mid-Market Buyout (FSANABAC)

Keywords

• Private equity investment
• Growth capital
• Management buyouts
• Lower mid-market
• Founder-owned businesses

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

Revenue model

1. Private Equity Returns: Hypha generates returns through investment exits, management fees, and carried interest from their £120m maiden fund focused on technology, healthcare, and advanced manufacturing sectors.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels3 records

Core offering

Hypha provides private equity investment services to founder-owned businesses in the UK and Ireland lower mid-market, deploying £3m-£15m (up to £20m) per transaction through majority or minority equity positions. The firm structures buyouts, growth capital, and equity release transactions across three focused sectors: technology, healthcare, and advanced manufacturing. Investments target profitable companies with EBITDA under £5m and capacity for organic growth.

Product overview

Hypha is a private equity firm offering investment services rather than traditional software products. The firm provides equity investment and partnership to founder-owned businesses across technology, healthcare, and advanced manufacturing sectors in the UK and Ireland. Their investment vehicle focuses on profitable companies with EBITDA under £5m, deploying initial investments of up to £20m. The firm closed its maiden fund at approximately £120 million in 2024 and aims to make 2-3 investments per year.

Differentiator

Problem solved

Functional benefit

Products and services

• Private Equity Investment Services Hypha provides private equity investment for founder-owned businesses in the UK and Ireland lower mid-market, offering majority and minority equity positions of £3m-£15m (up to £20m initial) through buyouts, growth capital, and equity release transactions. Investments focus on profitable companies with EBITDA under £5m in technology, healthcare, and advanced manufacturing sectors.

Quantifiable outcome

• 30+ companies supported
• +2 more outcomes

Named customers2 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

Two partnerships are on record, tiered core.

• Ashley Medical CommunicationscoreStrategic or Co-development PartnerHypha acquired a majority stake in Ashley Medical Communications (AMC), supporting the management buyout led by CEO Cath Lavery. The transaction empowers AMC's growth plans including European expansion and development of complementary service lines.
• Pass Tech (Pass)coreStrategic or Co-development PartnerHypha invested alongside founders Oliver Naylor and Lewis Wilding in Pass Tech, a leading EdTech company improving educational outcomes in maths and English. The investment supports platform expansion, course content growth, and B2C/B2B market development. New leadership includes Terry Sweeney (formerly CEO of RM Plc) as Chair.

Scale indicators5 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• Maven Capital Partners: UK and Ireland regional PE and growth capital manager focused on smaller SMEs with EBITDA typically under £5m. Direct comparator in geography, sector mix, and deal size to Hypha.
• YFM Equity Partners: Long-established UK lower mid-market PE firm investing £2m-£15m in profitable SMEs across similar sectors to Hypha, including technology, healthcare, and industrials.
• ECI Partners: UK mid-market growth investor focused on tech-enabled services, healthcare, and specialist industrials with £3m-£30m equity tickets. Highly overlapping thesis and ticket size with Hypha.
• Cairngorm Capital: UK lower mid-market PE firm investing in healthcare, consumer, and business services with EBITDA between £3m-£15m. Direct competitor for the same founder-led deal pool, and former employer of Hypha's Adam Watson.
• Inflexion: UK mid-market PE investor pursuing majority and minority deals across healthcare, technology, and business services. Comparable in sector overlap and minority/majority flexibility.
• LDC (Lloyds Development Capital): One of the most active UK lower mid-market PE investors backing management teams with £2m-£100m revenue companies. Closest direct peer in mandate, geography, and ticket size to Hypha.
• Beech Tree Private Equity: London-based lower mid-market PE firm backing UK SMEs with £3m-£15m equity tickets across business services, healthcare, and technology. Closely comparable mandate and deal size to Hypha.

Broad incumbents

• BGF (Business Growth Fund): UK and Ireland's most active growth capital investor with a portfolio of hundreds of minority and majority investments. Competes with Hypha for founder-led growth equity and minority deals in the lower mid-market.
• Foresight Group: Listed UK investment manager operating across PE, infrastructure, and private credit with a lower mid-market heritage. Highly comparable as the firm where all three Hypha co-founders built their careers and where the team's prior exits were generated.
• Hg Capital: Large UK and European software and services PE investor. Overlaps in tech and health-tech vertical interest and is a relevant comparator for fundraising scale; former employer of Hypha's Ayushi Sharma.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat3 records

Key risks6 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/hypha-pe

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles7 records

Subsidiaries2 records

Funding overview

Funding rounds1 record

Investors1 record

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

M&A1 record

Investments

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

Frequently asked questions about Hypha