Agathos launches second fund to invest equity into UK SMEs
Agathos Management LLP, the London-based lower mid-market private equity firm, is pleased to announce a first close of its second fund. The first close of Agathos Fund II was completed at the end of November 2020 with over £30m committed. The fund is on course to achieve a final close in early 2022 at an anticipated total of over £50m.
Agathos was established at the end of 2014 by William de Laszlo and Charles Oakshett and has successfully deployed its first fund. Fund II will provide £3m-£10m equity to support UK SMEs with strong growth potential and ambitious management teams.
William de Laszlo, Founding Partner, commented “I am very excited about the launch of Fund II and delighted that Agathos’s Fund I investors have increased their commitments to the new fund. In this market a committed fund provides an important element of certainty to potential partners seeking finance. We have assembled a high calibre team that combines conventional growth capital and buyout experience with the ability to deal with complexity and transact at speed.”
Charles Oakshett commented “We believe there is a need for active equity providers in the UK lower mid-market to support those SMEs that lack capital for growth or have unsustainable levels of debt. In many cases new equity is the best solution for small businesses that are looking to grow, in particular those that have been adversely impacted by the current pandemic. With SMEs taking on an estimated £80bn of borrowing facilities from both government-backed loan schemes and VAT deferrals, additional debt is often not the answer. In order to realise their potential, it is important that good businesses have appropriate capital structures, as well as a supportive partner committed to their longer-term strategy. With our ability to invest £3m-£10m equity into individual transactions, I believe that Agathos is well-positioned to contribute to the recovery and growth of some great businesses in the UK.”
