As we approach the final quarter of 2024, our Managing Partner, David Burns, sat down to reflect on a year already filled with accomplishments and to share insights into the firm’s future. From fundraising success to partnerships with ambitious founder-entrepreneurs, the Phoenix team has continued to make significant progress.
Listen to the podcast below, or read on, to learn more about the key highlights from this year and what’s on the horizon for 2025.
Record Fundraising and Growth
Phoenix has seen success on the fundraising front, with David highlighting that 2024 saw more capital raised by Phoenix than ever before. We closed over £600 million, split between over £400 million for our Flagship Fund and £200 million for our first Growth Partnership Fund. Both funds are designed to support founder-entrepreneurs to build bigger, better and faster growing businesses.
Our 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.
In addition to raising capital, Phoenix has successfully achieved several exits, and will return capital to investors through four notable realisations this year. Moreover, the businesses within our portfolio have continued to show robust growth, further solidifying the firm’s reputation for value creation.
Founder-First Approach: The Phoenix Advantage
One of Phoenix’s distinguishing features is our commitment to founder-entrepreneurs, a strategy that has served the firm well in standing out from its peers. As David discusses in the podcast, we pride ourselves on aligning with founders, working closely with them to help build their businesses while maintaining a clear focus on maintaining the culture of the business. Phoenix’s proprietary flow of investment opportunity stems from deep market research and a disciplined approach to investing.
The Power of the Founder Mindset
Its belief in the founder mindset is at the heart of Phoenix’s success. According to David, investing in a great opportunity isn’t enough; it takes exceptional people to unlock the full potential of that opportunity. Phoenix doesn’t just invest in companies but in people. Founders bring ambition, energy, and determination—qualities that Phoenix harnesses to help these entrepreneurs take their already successful businesses to the next level. The goal is to not only support growth but to create lasting partnerships based on shared values and a mutual vision.
Growth Partnership Fund: Partnering for Long-Term Success
Phoenix’s first-ever continuation fund, also known as our Growth Partnership Fund, is a prime example of our firm’s long-term commitment to its portfolio companies. The fund supports two high-growth businesses—Envisage Dental, a leading private pay dental operator in the UK, and Nineteen Group, a fast-growing trade exhibitions operator. Both businesses were founder-led and relatively small when Phoenix first invested. Today, they are leaders in their sectors, thanks to the strategic partnership with Phoenix. The continuation fund allows us to stay invested, continuing the successful relationships we’ve built with the founders of both companies.
New Investments and Looking Ahead
Looking ahead, Phoenix plans to stick to what it does best: backing founder-entrepreneurs in sectors with significant growth potential. A recent example is our investment in Cybanetix, a UK-based managed security service provider. Cybanetix represents our focus on sectors we understand well, and the partnership with founder Martin Jakobsen exemplifies our formula for success—combining a great market opportunity with exceptional leadership.
We’ve enjoyed the success we’ve achieved so far in 2024 and there’s more to come. Phoenix is poised for another exciting year of growth and innovation. Keep an eye on this space for more updates from Phoenix.
