# FPE Capital

FPE Capital is a Private Equity based in London, United Kingdom.

## Overview

- **Organization type:** Private Equity
- **Headquarters:** London, United Kingdom
- **Region:** Europe
- **Address:** 7-9 Swallow Street, London, W1B 4DE, United Kingdom
- **Founded:** 2016
- **Assets under management:** Undisclosed
- **Website:** www.fpecapital.com
- **LinkedIn:** https://www.linkedin.com/company/fpe-capital-llp

## Regulatory record

- **CRD number:** 338789
- **SEC file number:** 802-134575
- **Registration status:** Registered
- **Reports private funds:** Yes
- **IAPD record:** https://adviserinfo.sec.gov/firm/summary/338789

## About

FPE Capital is a private equity firm focused on second-stage growth investments in B2B software, data, and software services companies. The firm invests in proven, profitable businesses with enterprise values between £10m and £50m, typically as the first institutional investor. FPE is based in London and concentrates on companies with UK or Ireland exposure.

## Sectors

- Software
- Data
- Software Services
- FinTech
- Cyber Security

## People

- Henry Sallitt — Managing Partner
- Andrew Joy — Chairman, Investment Committee
- Llewellyn John — Partner
- Chris Kay — Partner
- Dan Walker — Partner
- Kenny Miller — CFO & COO

## Questions

### Who runs investment decisions at FPE Capital?

Investment decisions are made by an investment committee chaired by Andrew Joy. The committee draws on a senior team that includes Managing Partner Henry Sallitt and Partners Chris Kay, Llewellyn John, and Dan Walker. The group collectively brings software-sector investing and operating experience to each decision.

### How does FPE Capital source proprietary deal flow?

FPE operates a dedicated origination function led by Director Ben Cole and supported by an origination analyst. The firm's narrow sector focus means that its reputation among B2B software founders and advisors in the UK and Ireland functions as a sourcing filter. It positions itself as a specialist first institutional partner, which generates inbound founder-led deal flow from companies seeking capital that understands the software business model.

### Does FPE Capital participate in fund commitments or only direct deals?

FPE exclusively makes direct platform and bolt-on investments in operating companies. There is no public evidence of fund-of-fund commitments, GP stakes, or passive LP positions. The firm structures flexible equity cheques, often providing a mix of capital to de-risk existing shareholders and fund organic growth or acquisitions.

### What investment stages does FPE Capital target?

FPE targets what it calls ‘second-stage growth’: companies that have achieved product-market fit, generate £4m+ in revenue for product-led models or £1m+ in EBITDA for service-led models, and are ready for their first institutional capital. The firm avoids venture-stage risk and does not compete with traditional buyout shops targeting large, established corporate carve-outs.

### Which sectors does FPE Capital explicitly avoid?

FPE avoids consumer-facing software, hardware, and any business model outside B2B software, data, or software services. Within B2B, it does not invest pre-revenue or pre-product-market-fit companies, and requires some management team presence in the UK or Ireland to enable face-to-face partnership.

## Related profiles

- [Fox Three Partners](https://altss.com/profile/fox-three-partners)
- [F&P Equity Partner](https://altss.com/profile/f-p-equity-partner)

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Last updated: 2026-07-10T23:58:07.000Z

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