We share the highlights of a successful 2026 so far and thank the visionary founders we partner with.
Once again, it has been a busy year so far for the Phoenix team. We have invested alongside some brilliant founders and we watched proudly as several of our portfolio companies moved on to new frontiers of growth and success.
It would be an impossible task to list all of this year’s achievements to date, but here are a few highlights.
New beginnings
So far in 2026, we have forged new partnerships with a range of great companies, backing Minerva Virtual Academy, Squarcle, and Medmark.
First, we welcomed Minerva Virtual Academy, the fastest growing school in the UK. Founded in 2021 by CEO Hugh Viney, Minerva serves more than 1,500 full-time students across 60 countries, delivering a flexible British curriculum education through its Virtual Learning Platform. We have always allied ourselves with innovators, and Minerva fits the bill in every way.
We also teamed up with Squarcle, a specialist supply chain and procurement consultancy serving UK Government and Critical National Infrastructure customers. Founded by Gavin Emmerson MBE in 2020, Squarcle has scaled rapidly since its inception, proving that there’s no ceiling for a founder’s vision when the right support is in place.
Most recently, we were thrilled to partner with Medmark, Ireland’s leading occupational health provider. Led by CEO Dr Robert Ryan and Deputy CEO Paul O’Grady, the firm supports more than half a million employees through a range of health screening, workplace medical assessment and employee wellbeing services. It’s a great foundation for a new and intrepid next phase.
All three firms are textbook examples of our signature investment philosophy. We identify attractive sub-sectors through our research. We look for vision, ambition, and a culture that can support a great idea. And we collaborate with founders to scale their businesses to new heights.
Fond farewells
This year, we also said farewell to two of the businesses we have backed for many years. At Phoenix, it’s always a privilege to play a role in a company’s success story and this year has been no exception.
In September, we finalised the sale of Logiq, one of the most respected cyber security businesses in the UK defence sector, to IBM.
It was a fitting finale to a fantastic collaboration. Ever since we first partnered with Logiq in 2023, CEO James Morgan and the entire team have delivered significant growth while never losing sight of the people and culture that made Logiq special. We’re proud to have supported Logiq on its journey, and we wish the team every success as they step into an exciting new chapter.
But the accomplishments didn’t stop there. In October, we celebrated the completion of our sale of Mobius, the award-winning UK independent pensions administration platform, to Motive Partners, a specialist U.S. financial services investor.
The sale was a milestone for all involved, generating over a 3x gross multiple of cost. It was a well-earned result, too. Since we partnered with Mobius in 2019, CEO James Finch and his team have more than doubled assets under administration to over £30 billion, diversified into new markets, and developed new products. We cannot wait to see where their journey takes them next.
Final words
Since day one, we have dedicated ourselves to supporting founder-driven companies, serving on their boards, and helping them to realise their ambitions. 2026 has been a standout year in which we have done exactly that, with more still to come before the year is out. We look forward to sharing the next chapter.
