Phoenix is pleased to announce the successful close of two new funds, representing a major milestone in the firm’s ongoing growth and success.

Phoenix’s latest Flagship Fund has closed with commitments exceeding £400 million and its Growth Partnership Fund has successfully closed at £200 million, achieving a total of more than £600 million in new funds.

The latest Flagship Fund will enable Phoenix to continue its strategy of investing in high-growth lower mid-market businesses across select sectors, reinforcing Phoenix’s long-standing commitment to supporting entrepreneurial success. Phoenix’s previous fund has demonstrated strong returns, with over half of its portfolio companies having been sold, achieving realised returns of 3.4x multiple of cost.

Phoenix’s Growth Partnership Fund extends its partnerships with two high-performing businesses, Envisage Dental (“Envisage”) and Nineteen Group (“Nineteen”). These two businesses, which were small platform businesses when Phoenix invested, now have a combined enterprise value of close to £450m. The Fund will enable these companies to continue their rapid growth, demonstrating Phoenix’s dedication to fostering long-term growth through close collaboration with founders.

David Burns, Managing Partner, Phoenix Equity Partners, commented:

“We are delighted to announce the closing of two significant funds. These new funds underscore our unwavering commitment to supporting founder-led businesses on their growth journeys. The new Phoenix Flagship Fund reaffirms our dedication to supporting founder-entrepreneurs as they seek external investment to drive growth. 

“The Growth Partnership Fund is a testament to the success of our collaborative approach, allowing us to continue partnering with exceptional founders like Harry Gill and Sandy Dau at Envisage and Peter Jones at Nineteen, driving long-term success.”

These fund closings follow Phoenix’s recent investment in Cybanetix, a leading UK-based cybersecurity specialist, reinforcing our strategy of backing dynamic, founder-led businesses with high growth potential.