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Fidelio Capital
Gabriel Fitzgerald founded Fidelio Capital in 2010; the Stockholm-based firm has invested in over 150 companies globally using a permanent-capital model.
Fidelio Capital
Fidelio Capital launched in 2010 when Gabriel Fitzgerald founded the firm in Sweden with a mandate to invest globally from a permanent capital base. Unlike fund-lifecycle investors, the firm structures its commitments to hold businesses indefinitely, aligning with founders and managers who want a long-term steward rather than a financial buyer. The firm has deployed capital in over 150 companies since inception, spanning approximately 20 countries. The firm pursues control buyouts and growth-stage investments, targeting sectors where it can compound value over multiple decades. Confirmed portfolio positions include Odevo, the international residential property management platform where CEO Daniel Larsson credits Fidelio's philosophy of supporting companies "through all possible phases" as a key differentiator. While the portfolio spans enterprise software, property technology, consumer, and industrial technology, the common thread is backing entrepreneurial managers in recurring-revenue or scalable-service businesses. Geographically, the firm invests across Europe, North America, and select markets globally — a footprint enabled by offices in Stockholm and a second office inaugurated in London in 2022. The firm's team size and total assets under management are undisclosed, keeping with its private, entrepreneurial posture. Fidelio's website does not list a full investment committee but describes a philosophy centered on recruiting "extraordinary people" and working in close cooperation with portfolio-company leadership. The 2022 opening of a London office signals an operational deepening in key European markets and offers a proximity hub for its international portfolio companies. Fidelio's structural differentiator is its permanent-capital, indefinite-hold model — it does not market a series of blind-pool funds with fixed lifespans. Instead, capital remains committed without preset exit horizons, which allows portfolio companies like Odevo to scale internationally without pressure to engineer a near-term sale. This architecture effectively blends the governance model of a family holding company with the active value-creation toolkit of a private equity investor.
General information
Firm type
Private Equity
Year founded
2010
AUM
Undisclosed
Location
Region
Europe
Country
Sweden
City
Stockholm
Corporate office
Stockholm, Sweden
Additional offices
London, United Kingdom
Principals
Gabriel Fitzgerald
Founder
Sector focus
Frequently asked questions
How does Fidelio Capital's investment model differ from a traditional private equity fund?
Fidelio operates on a permanent-capital basis, not a closed-end fund structure. This means it invests without a fixed fund lifespan and does not face pressure to exit companies on a typical 3–7 year timeline. The firm structures control buyouts and growth investments as indefinite holdings, aiming to compound value over multiple decades alongside portfolio managers.
Who runs investment decisions at Fidelio Capital?
The firm was founded by Gabriel Fitzgerald and he remains the named principal on the firm's website. Beyond Fitzgerald, the firm does not publicly detail a full investment committee or partnership roster. The website emphasizes a team-based philosophy and states that recruiting the right people is the most critical task in its business, though specific decision-making roles are not named.
What types of investments does Fidelio Capital pursue?
Fidelio primarily pursues control buyouts and expansion-stage or growth investments in owner-operated companies. The firm typically partners with founders and managers across sectors including enterprise software, property technology, consumer, and industrial technology. It does not describe itself as a venture capital or minority-investment firm — the strategy centers on taking significant, long-term positions.
Which companies has Fidelio Capital publicly backed?
One publicly confirmed portfolio company is Odevo, an international residential property management platform. Odevo CEO Daniel Larsson features prominently on Fidelio's website, describing the partnership as one team across Fidelio and Odevo. Fidelio states it has invested in over 150 companies across roughly 20 countries, but most holdings are not individually named on its public site.
How is Fidelio Capital's geographic footprint structured?
Fidelio's headquarters are in Stockholm, Sweden, and it opened a second office in London in 2022. The firm describes its investment scope as global, with capital deployed in North America, Europe, and other markets. The Stockholm office anchors its Nordic origins, while London serves as a hub for international portfolio operations and sourcing.
Does Fidelio Capital raise outside capital or invest a private fortune?
Fidelio does not publicly disclose the origin of its capital base, and it is not registered as a single-family office. It is structured as an asset manager, but its permanent-capital, indefinite-hold model and absence of publicly marketed fund vehicles suggest it may operate a proprietary capital base or a discreet set of long-term partners rather than a typical blind-pool limited-partner fund.
What is Fidelio Capital's known posture on co-investments and external partners?
Fidelio's public materials emphasize direct, flexible partnerships with entrepreneurs and managers, and it does not advertise club deals or co-investment programs for external GPs. The firm positions itself as a single, committed partner for portfolio companies. Whether it syndicates equity on a deal-by-deal basis with other investors is not publicly detailed.
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