Investing Around Big Themes

We identify ’niche’ markets supported by macro growth drivers that disrupt or cause industries to undergo rapid change. We back early adopters and ’hidden’ champions. In our view, growth capital investments should not be conservative, but must be prudent.


  • Skills shortage
  • Technology
  • Low capital expenditure
  • Niche sector growth


  • Services and technologies
  • Recurring revenues
  • High barriers


  • Consumer niches
  • Heritage brands
  • Sustainable use, not fads

Industrials & Business Services

  • Agribusiness & water technologies
  • Services and technologies
  • Equipment providers
  • ’Hidden’ champions