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Smedvig Capital

GBSENONLBEDEATROIEB2B SaaSAI/MLEnterpriseDevtoolsMarketplacesOther

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Investment thesis

Smedvig Capital is the London arm of the Smedvig Family Office, investing in private markets since 1996 with a focus on Private Equity and Venture Capital. Through its direct investing brand Smedvig Ventures, the firm backs B2B technology companies across Europe — particularly in infrastructure software, data platforms and tools, applied AI, and tech-enabled services — writing initial tickets of €4–8m in rounds of up to €20m, targeting companies with at least €750k ARR and established product-market fit. Smedvig Ventures specifically targets the 'Series A to B gap' — the operationally demanding transition where many businesses fail — providing patient, long-term capital free from external LP constraints. The firm backs a concentrated portfolio of roughly 15 companies per fund cycle, focusing on the UK, Nordics, and Benelux, and works closely with founders to help them scale from early traction to inspiring success stories.

Notable quotes

We've tried to stay pretty broad in terms of sectors, because actually there aren't that many great B2B businesses. Building [a business] that is VC backable is even tougher because so much is expected with so little resources before a business gets to truly great Series A metrics.

Jonathan Lerner · Sifted, 'Smedvig Ventures closes new €115m fund to back European B2B startups' · 2024-01-24

You've got the early seed traction which is really exciting and then the inspiring success story when you make it at the end, but then there's this bit [in the middle] where things tend to fall apart. Founders and the business have to develop more drastically and quickly than any other part of the journey. It's an operational gap where loads of businesses fail.

Joe Knowles · Sifted, 'Smedvig Ventures closes new €115m fund to back European B2B startups' · 2024-01-24

Robert Toms, Joe Knowles and I have been focusing on investing into great European B2B tech businesses at Smedvig Capital for over 45 years cumulatively — and now thanks to the continued backing (28 years and counting!) of the Smedvig family we have a dedicated team and brand to support it.

Jonathan Lerner · LinkedIn post announcing Smedvig Ventures €115m fund · 2024-01-24

Recent investments

CompanyRoundSizeDate
UnderstorySeries A2025
Under The Doormat GroupSeries A$6m2025-09-02
MinutSeries B$5m2023-12-08
Druid AISeries B$30m2023-08-29
EdgeTierSeries A$4m2023-06-13
LunioSeries A$15m2022-09-29
MavenoidSeries B$30m2022
XenetaSeries B$12m2017-02-09
MasabiSeries A
CaptifySeries A

Frequent co-investors

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