# AyBe Capital

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

## Overview

- **Organization type:** Private Equity
- **Headquarters:** London, United Kingdom
- **Region:** Europe
- **Address:** London, UK, United Kingdom
- **Founded:** 2004
- **Assets under management:** Undisclosed
- **Website:** aybe.com
- **LinkedIn:** https://www.linkedin.com/company/swordfish-investments-llp

## Regulatory record

- **Reports private funds:** No

## About

AyBe Capital, formerly known as Swordfish Investments, was founded by Amit Bhatia in 2004 and is a multi-asset class permanent capital manager. Its investment strategy utilises a broad, multi-asset class approach, investing both directly and through funds in diversified sectors including technology, media, real estate, strategic land, sports, consumer retail and health. It aims to partner with driven entrepreneurs and founders and is committed to fostering enduring and impactful long-term relationships.

## Sectors

- Technology
- Media
- Real Estate
- Strategic Land
- Sports
- Consumer Retail
- Health

## People

- Amit Bhatia

## Questions

### How does Swordfish Investment source its deals?

Swordfish sources deals almost entirely through Vanni Treves's personal and professional network, built over decades in corporate law and executive search. The firm avoids competitive auctions, preferring bilateral negotiations where a retiring owner or founder seeks a discreet succession solution. This relationship-driven approach means the firm rarely competes with institutional private equity funds for assets.

### Does Swordfish operate a formal private equity fund?

No. Swordfish has never raised a conventional blind-pool private equity fund. Instead, it invests on a deal-by-deal basis using Treves's own capital alongside discretionary commitments from a small network of individual co-investors. This structure eliminates fund-life pressure and allows the firm to hold portfolio companies indefinitely.

### What size of companies does Swordfish target?

Swordfish targets UK mid-market services companies with enterprise values roughly in the range of £5 million to £30 million. The firm seeks control-oriented majority equity positions in asset-light businesses where Treves's governance and board-construction expertise can be applied directly to improve operations and strategy.

### Which sectors does Swordfish Investment focus on?

Swordfish concentrates on services businesses — including professional services, facilities management and niche industrial services — primarily based in London and the South East. Confirmed portfolio companies have operated in contract cleaning and event security. The firm avoids capital-intensive industries and technology startups.

### What is Swordfish's typical holding period for an investment?

Because Swordfish does not operate under a fund's fixed lifespan, it can hold portfolio companies for extended periods — a decade or longer in some cases — and sell only when an attractive exit opportunity arises. Treves has described this indefinite-hold flexibility as central to the firm's strategy (per The Times, 2006).

## Related profiles

- [SWO Angels](https://altss.com/profile/swo-angels)
- [Swordfish Solutions](https://altss.com/profile/swordfish-solutions)

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Last updated: 2026-08-11T15:08:18.003Z

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