Expedition Growth Capital has successfully closed its third fund at a hard cap of $375 million, underscoring strong investor confidence in its specialized strategy. The London and Boston-based firm will continue its focus on partnering with Europe's leading bootstrapped software and AI companies. This oversubscribed fund, raised in just four months, signals a significant commitment to fostering durable, capital-efficient growth across the continent.
A Strategic Focus on Bootstrapped Innovators
The firm targets founder-led software companies that have a clear use for capital but are not dependent on it for survival. This philosophy champions sustainable scaling over the "growth at all costs" approach often associated with traditional venture capital. Expedition's mission is to empower these businesses to scale with ambition while maintaining their operational and financial durability.
Empowering Growth and Market Expansion
With typical initial investments of $10 million to $25 million, Expedition provides capital for strategic growth initiatives and shareholder liquidity. The firm’s dedicated value creation team, the Expedition Operations Group, offers hands-on support to portfolio companies. This expertise is crucial for navigating go-to-market expansion, key strategic hires, and achieving operational excellence at scale.
Expedition specializes in guiding companies from over $5 million in Annual Recurring Revenue towards the $50 million milestone and beyond. As often the first institutional investor, the firm helps founders evolve their organizations for the next stage of growth. This partnership model is designed to preserve the unique culture and customer-centric focus that made the companies successful initially.
Technology-Driven Sourcing and a Diverse Portfolio
To identify promising investment opportunities, Expedition employs a proprietary AI-powered sourcing platform that scans for high-quality, non-venture-backed software businesses. This technology-enabled approach has proven highly effective in uncovering hidden gems across the European market. In fact, this innovative platform was responsible for identifying two of the firm's last three major investments.
Since its founding in 2020, Expedition has built an impressive portfolio of 17 bootstrapped leaders from nine different European nations. Notable companies include the French AI-accounting solution Dougs and the German energy workflow platform epilot. This diverse portfolio also features Danish manufacturing efficiency software Factbird and Greek enterprise AI provider Omilia, showcasing the firm's broad reach.
Strong Investor Confidence in a Dynamic Market
The fund's rapid and oversubscribed closing in just four months highlights significant market enthusiasm for Expedition's model. More than half of the commitments came from leading US-based endowments and foundations, demonstrating widespread trust in the firm's strategy. This strong backing validates the conviction that Europe's bootstrapped founders are poised to build exceptionally valuable companies.
In the context of European tech funding, this $375 million fund represents a substantial pool of growth-stage capital. While early-stage investment in AI and SaaS remains steady, Expedition is positioned to address a critical scaling gap for established, revenue-generating companies. This capital allows promising European software firms to accelerate their growth trajectory and compete on a global stage.
Expedition Growth Capital's new fund marks a significant milestone, reinforcing its role as a vital partner for Europe's capital-efficient software innovators. By combining patient capital, deep operational expertise, and a technology-driven sourcing strategy, the firm is uniquely positioned to foster sustainable success. This latest fundraise not only benefits its portfolio but also strengthens the entire ecosystem of bootstrapped European technology companies.