Vitruvian Partners

Vitruvian Partners was founded in 2006 by a team of experienced investment professionals. Its UK operating entity, Vitruvian Partners LLP, was incorporated in England as a limited liability partnership on May 22, 2006, with company number OC319894 and a registered office at 105 Wigmore Street, London. Since its founding, the firm has pursued a thematic investment strategy called “Dynamic Situations,” that is, investing in companies undergoing rapid growth and change.⁠[1][2][3][3][3][4]

Before founding Vitruvian, co-founder Mike Risman spent 10 years at Apax Partners, where he was a Global Equity Partner and head of the firm’s Information Technology Investment Team in Europe; earlier, he worked as a strategy consultant at Cap Gemini and as an engineer at Jaguar Cars.⁠[5][6]

In 2008, Vitruvian’s first fund, Vitruvian Investment Partnership I (VIP I), closed with commitments of €925 million.⁠[5][7]

In 2012, Vitruvian led a $64 million growth-stage financing for Just Eat, the UK online takeaway ordering platform, with participation from Index Ventures, Greylock Partners, and Redpoint Ventures; in the tech startup world, Vitruvian is best known for this investment.⁠[7][5]

On December 5, 2013, Vitruvian announced that its second fund, VIP II, had closed at its self-imposed cap of £1 billion (about $1.6 billion, or €1.2 billion), with investors including corporate and state pension funds, sovereign wealth funds, funds of funds, endowments, and foundations across Europe, the US, the Middle East, and Australasia. The fund continued the strategy of investing in “dynamic situations” in industries such as business services, information technology, media, telecoms, financial services, and healthcare, investing £25 million to £125 million in companies with enterprise values of £40 million to £250 million.⁠[5][5][5][5][5]

In November 2016, Skyscanner, a travel search company in Vitruvian’s portfolio, was acquired by Ctrip for £1.4 billion.⁠[7]

In June 2017, the third fund, VIP III, closed at €2.4 billion (£2.1 billion) and was oversubscribed, with support from more than 100 existing and new investors. The earlier VIP I and VIP II funds had together backed 30 companies. At the time, Vitruvian had offices in London, Munich, the Benelux region, Stockholm, and San Francisco, and had recently established a presence in the French market. In the same year, Vitruvian became a signatory of the UN-supported Principles for Responsible Investment (PRI).⁠[8][7][7][7][7][9]

In early August 2020, less than three months after its formal launch, the fourth fund, VIP IV, closed at its hard cap of €4 billion (about $4.7 billion), 40% larger than VIP III, to invest mainly in high-growth middle-market companies in Europe. The fund accepted commitments from more than 120 institutions, with over 50% from North America, 30% from Europe, and the balance from Asia and the Middle East; its investors included sovereign wealth funds, public and corporate pension funds, funds of funds, banks and insurers, and endowments and foundations. After the fundraising, Vitruvian’s assets under management reached €10 billion.⁠[8][8][8][8][8][8][8][8]

In September 2024, the fifth fund, Vitruvian Investment Partnership V (VIP V), held its final close at €7.3 billion (about $8.1 billion), surpassing its original €6.5 billion target and significantly oversubscribed, and substantially larger than VIP IV, which closed at €4 billion in 2020. The fund attracted commitments from more than 200 global institutions, including the California Public Employees’ Retirement System (CalPERS) and the California State Teachers’ Retirement System (CalSTRS), and was about 25% invested at the time of closing; Kirkland & Ellis advised on the fund’s formation.⁠[4][4][10][10][10][10][10][4]

On September 18, 2026, Angle Health, a US health benefits platform for small businesses, announced a $600 million equity financing at a $2.7 billion valuation, consisting of a $200 million Series C financing and a $400 million tender offer for existing shares. The round was led by Vitruvian Partners with participation from new investor Town Hall VenturesTown Hall VenturesTown Hall Ventures is a healthcare venture capital firm headquartered in New York, United States. It was founded in 2018 by Andy Slavitt, who led the US Centers for Medicare and Medicaid Services (CMS) during the Obama administration, and others, and it invests in healthcare technology and services companies that improve access to care in underserved communities.Open the full entry and existing investors Blumberg Capital, Portage VenturesPortage VenturesPortage Ventures (now branded as Portage) is a fintech investment firm headquartered in Toronto, Canada. Founded in 2016 as Portag3 Ventures, it is now the fintech investment platform within the alternative asset manager Sagard.Open the full entry, PruVen CapitalPruVen CapitalPruVen Capital is an independent venture capital firm headquartered in Palo Alto, California, United States. It was founded in 2020 by Ramneek Gupta with funding from the US insurance group Prudential Financial, and it invests in technology startups in financial services, insurance, and other industries.Open the full entry, and Y Combinator, and was expected to close later that month. Angle Health CEO Ty Wang said the company was particularly excited to partner with Vitruvian because it had specifically sought out a group with deep expertise at the intersection of healthcare, technology, and financial services. Vitruvian partner Jeremy Gelber said Angle Health had replaced the archaic systems and manual workflows of a century-old industry with a platform built for the AI era.⁠[1][1][1][11][1][1]

As of October 2026, Vitruvian’s investment types include growth buyouts (investing alongside existing management teams in established and growing businesses, often financed by a combination of equity and debt), growth capital (primary and/or secondary capital for rapidly growing companies), and investments in public companies and public-to-private transactions, covering both majority and minority investments; it invests €40 million to €600 million or more in companies valued at €75 million to €4 billion or more. The firm also has a value-add team of senior operating executives that helps portfolio companies with geographic expansion, operational improvement, and add-on acquisitions.⁠[2][2][2][2][2][2][2]

Vitruvian describes itself as having more than 200 professionals, more than 90 investments, and about €20 billion in assets under management, and in September 2026 it said it had over $23 billion of active funds. It has offices in cities including London, Dubai, Luxembourg, Madrid, Miami, Mumbai, Munich, San Francisco, Shanghai, Singapore, and Stockholm, with its London office at 105 Wigmore Street. Companies it has backed include CRF Health, Medison Pharma, Just Eat, EasyPark, Skyscanner, Wise, Global-e, CFC, and Darktrace.⁠[2][1][12][1]

Vitruvian is authorised and regulated by the UK Financial Conduct Authority (FCA). The firm has been operationally carbon neutral since 2019 and carbon negative since 2022, and it assesses its portfolio against climate risk scenarios within the recommendations of the Task Force on Climate-related Financial Disclosures (TCFD).⁠[9][9][9]

Vitruvian Partners: Official website: https://www.vitruvianpartners.com/ (opens in a new window).⁠[13]