StrategyAI

Live M&A, transformation, leadership and financing signals translated into consulting mandate opportunities. Know who to call, before they call someone else.

◆ Deal Insights · sector read

FIG

Growth cycle

Deals and venture money both rising, yet half the venture-backed field is overdue: winners scale, the rest sell. Integration and sell-side work at once.

M&A deals
+40%›
125 in the last 3 months vs 89
Venture capital
+43%›
€3.6bn in the last 2 quarters
Public mandates
–›
too few to read
Capital pressure
50%›
601 of 1,195 venture-backed overdue
01The month's strongest deals

Where the FIG mandates are forming.

The highest-conviction FIG deals in the 30 days to 4 September, each with the advisory angle. Click a deal for the mandate and the buyer.

FIG · United KingdomTrigger 9/10
JTC plc
Bought by Permira and CPP Investments · $4bn
Evidence is a completed GBP 2.7bn take private with ten advisers engaged and not one of them a strategy firm. Permira and CPP both underwrite operating improvement rather than financial engineering. Approach the Permira portfolio operations team and JTC management together on the post delisting operating model.
FIG · United KingdomTrigger 9/10
Coller Capital
Bought by EQT · $3bn
Evidence is a completed all share combination creating a named new segment, with seven advisers and no strategy firm. Segment level integration is visible to public shareholders from the first quarter. Approach EQT on integration and combined LP strategy.
FIG · United KingdomTrigger 9/10
🔒
Bought by 🔒
🔒 The mandate angle is for members
FIG · United KingdomTrigger 9/10
🔒
Bought by 🔒
🔒 The mandate angle is for members
FIG · SpainTrigger 8/10
🔒
Bought by 🔒
🔒 The mandate angle is for members
Every FIG deal in six months
02Who sells next

The likely sellers, and who needs them sold.

Venture-backed FIG companies ranked by StrategyAI's acquisition odds, the ones past their normal time to raise, and the funds in their harvest years.

◆ StrategyAI prediction · likely to be acquired next
40 FIG companies have at least twice the typical odds of being bought within two years.
1
Zepz
Fintech · UK · In its raise window · €1bn raised
Exit-readyCapital pressure
×3.9
2
🔒
Fintech · UK · In its raise window
Exit-readyFund harvesting
×3.4
3
🔒
Fintech · Belgium · Deploying
Exit-readySerial buyers due
×2.9
4
🔒
Fintech · France · In its raise window
Exit-readyFund harvestingSerial buyers dueInvestor selling
×2.8
5
🔒
Fintech · Germany · In its raise window
Exit-readyCapital pressureFund harvesting
×2.8
6
🔒
Fintech · Iceland · Overdue to raise
Exit-readyOverdue to raiseCapital pressure
×2.7
7
🔒
Fintech · Belgium · Deploying
Exit-readySerial buyers due
×2.7
8
🔒
Fintech · UK · Overdue to raise
Exit-readyOverdue to raiseCapital pressureFund harvesting
×2.6
9
🔒
Fintech · Latvia · Overdue to raise
Exit-readyOverdue to raiseCapital pressure
×2.6
10
🔒
Fintech · Netherlands · Overdue to raise
Exit-readyOverdue to raiseCapital pressureSerial buyers due
×2.6
×N is the odds of an acquisition within 24 months against a typical venture-backed company (3.0%). The model is backtested on European exits; an indication, not advice.
Overdue for an exit
601 FIG companies are past their normal time to raise; 170 are backed by a fund in its harvest years.
Revolut
Fintech · UK · 24 months since Series D+ · €1.5bn raised
Exit-ready 100
Mintos
Fintech · Latvia · 26 months since Series A · €18m raised
Exit-ready 100
🔒
Fintech · Netherlands · 32 months since Series A
Exit-ready 100
🔒
Fintech · Greece · 31 months since Series B
Exit-ready 100
🔒
Fintech · Iceland · 34 months since Series D+
Exit-ready 100
🔒
Fintech · Sweden · 28 months since Series B
Exit-ready 99
🔒
Fintech · UK · 29 months since Series A
Exit-ready 99
🔒
Fintech · UK · 30 months since Growth/Late
Exit-ready 99
🔒
Fintech · Finland · 34 months since Series C
Exit-ready 99
🔒
Fintech · Germany · 40 months since Series D+
Exit-ready 99
The fund clock · funds that have to sell
103 venture funds (€11.7bn) are in their harvest or extension years: 96 managers who need exits, and the sale processes that come with them.
Manager · fundSizeClosedAgeStage
Rocket Internet Capital Partners IGermany · Software, E-Commerce, Fintech, Marketplaces, Travel€930m201610.7 yrsExtension
Allianz X CVCGermany · Fintech, Health, Mobility, Data, Cybersecurity€570m20197.6 yrsHarvest
🔒France · Commerce, Consumer-Tech, B2B, Healthcare, Fintech, Mobility, Energy––7.3 yrsHarvest
🔒UK · Deep-Tech, Industry-4.0, IoT, Robotics, Fintech, Medtech––9.4 yrsHarvest
🔒Germany · Fintech, Health, Mobility, Data, Cybersecurity––10.8 yrsExtension
🔒France · Enterprise-Software, Fintech, Insurtech, Deep-Tech, AI, Big-Data, VR, IoT, Cybersecurity, Health-Tech––8.5 yrsHarvest
🔒Germany · Industrial-Tech, Fintech––9.6 yrsHarvest
🔒Sweden · Fintech, E-Commerce, Media, SaaS, Mobile––10.1 yrsExtension
🔒Netherlands · Fintech––8.9 yrsHarvest
🔒Netherlands · Health-Tech, ICT, New-Media, Fintech––10.1 yrsExtension
Harvest: years six to ten, when a fund sells its companies to return capital. Extension: past ten years and overdue to wind up. Source: EuroVC fund closes.
03Leadership moves

Who just changed the team at the top.

Leadership moves · last 30 days
76 FIG companies changed leadership this month; 5 of them were acquired in the past year. A new CEO or CFO after a deal is the first sign of a new plan.
🔒Leadership change · FIG · United Kingdom · 15 SeptAcquired in the last year
🔒Leadership change · FIG · United Kingdom · 15 SeptAcquired in the last year
🔒Leadership change · FIG · Italy · 15 SeptAcquired in the last year
🔒Leadership change · FIG · France · 11 SeptAcquired in the last year
🔒Leadership change · FIG · Sweden · 11 SeptAcquired in the last year
🔒Leadership change · FIG · Bahrain · 30 Sept
🔒Senior departure · FIG · United Kingdom · 29 Sept
🔒Senior departure · FIG · United Kingdom · 21 Sept
🔒Leadership change · FIG · United Kingdom · 21 Sept
🔒Leadership change · FIG · Bahrain · 20 Sept
04Other sectors

Read another sector.

Every FIG name, every morning.

Members see the companies behind every number, the people they already know there, and live signals scored against eleven mandate patterns.

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M&A: EMEA transactions, momentum compares the latest three months with the three before. Venture capital: tech.eu Funding Explorer (CC BY 4.0) and EuroVC, read via FS. Predictions are StrategyAI model outputs: indicative, not advice.