New private equity investor Pitalia Capital has launched with a £50m fund aimed at supporting UK small and medium sized businesses.
The firm has brought in Seneca Partners investment director John Davies to lead the fund, which will focus on deploying up to £10m per deal across growth capital and buyouts.
Davies spent six years with Seneca, working on deals including digital business communications specialist Mission Labs, which the firm exited in March for a 4.2x return.
He was also instrumental in originating and supporting Seneca’s investment in connected vehicle data business Wejo, which recently announced plans for a $1bn Nasdaq listing.
Davies said, “What makes Pitalia Capital different is our personal approach to investment.
“We want to back great people who share our values, and it’s as much about who they are as an individual as it is about the business they run.
“Whether an entrepreneur needs growth capital to bolster their early-stage company or requires funding to help a more established mid-sized business reach the next stage of its strategy, we’re building a team that will invest in and support management teams as they push forward with their own expansion plans.
“We don’t have the usual restrictions of typical private equity funds as we invest our own capital, not funds raised from third parties.
“That means we can back whoever we want, whatever their unique situation. We therefore have no external pressure to rush to deploy capital or to exit good investments – and this provides us with a far more flexible investment mentality.”
Pitalia Capital joins the Pitalia Group of companies alongside Pitalia Real Estate, which launched in March 2021, and is being led by long-established real estate professional David Lathwood.
Pitalia Group was created by Anil Pitalia, a cataract surgeon and the founder of SpaMedica.
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