Backed by the European Investment Fund, leading global institutions and prominent entrepreneurial families, MS+PARTNERS combines institutional private equity discipline with venture ecosystem access to back Europe’s next generation of category leaders.
LONDON, September 1st, 2026 — MS+PARTNERS, a European private equity firm investing in founder-led lower mid-market businesses at pivotal scaling inflection points, announced the first close of its inaugural fund, having raised close to €150 million to date towards its €300 million target.
The first close brings together a diverse group of long-term investors, including leading institutions, entrepreneurial families and experienced private equity professionals, reflecting strong conviction in the firm’s investment strategy. The fund is anchored by the European Investment Fund (EIF) and supported by institutions including COFIDES, BlackRock Private Equity Partners, and UK private bank C. Hoare & Co.
The investor base also includes experienced founders, family offices and senior investment professionals, including the former Managing Partner of Hellman & Friedman, the former Global Managing Partner of McKinsey & Company, and former Partners of KKR.
The first close marks an important milestone for the firm and provides substantial capital to execute on an active pipeline of proprietary opportunities across Western Europe. The Fund has already completed its first two investments and expects to hold its final close at the end of 2026.
Fund at a Glance
- Fund MS+PARTNERS Fund I
- Strategy Pan-European thematic lower mid-market buyouts
- Fund target €300 million
- Geography Western Europe
- Target enterprise value €50–500 million
- Portfolio 2 investments completed
- Investment team 8 professionals
- Final close Expected by year-end 2026
Investment Strategy – Building Europe’s Next Generation of Category Leaders
MS+PARTNERS was founded on the belief that Europe is undergoing a profound industrial and technology transformation, creating an attractive opportunity to invest in the fragmented European lower mid-market.
By combining long-standing relationships across the European venture ecosystem with institutional private equity discipline, the firm partners with founder-led businesses at the pivotal moment where innovation gives way to industrial scale.
Long-term trends – including industrial digitalisation, demographic change, resource efficiency and security – are reshaping the European economy, yet many businesses remain underserved by traditional sources of growth capital. The firm believes this structural funding gap creates opportunities to build Europe’s next generation of category leaders through active ownership and operational value creation.
MS+PARTNERS invests in profitable businesses valued between €50 and €500 million, across three themes – Industrial Technology & Energy Transition, Circularity & Resource E`iciency, and Human Capital & Essential Services – focusing on businesses where sustainability and technology create durable competitive advantages.
The strategy seeks to generate returns primarily through operational value creation, international expansion and strategic acquisitions, supported by a repeatable thematic underwriting framework.
Leadership – Unique Experience From Leading Investment Firms
The MS+PARTNERS’ team combines investors from leading global investment organisations such as KKR and BlackRock, with deep experience partnering with founders and management teams to scale European businesses.
The firm is co-founded by Managing Partner Stanislas de Joussineau who brings over 20 years of private equity investment experience, including 13 years at KKR where he helped establish KKR’s impact private equity business and served as Head of the Global Impact Fund in Europe.
The other two Managing Partners, Alex Pitt and Henry Wigan, whose experience spans Goldman Sachs, BlackRock, BCG and Mubadala, are recognized among the pioneers of impact investing in Europe, with over a decade of venture track record. Together, the partners bring more than 50 years of investing experience across venture, growth and private equity.
The investment team comprises eight professionals and is supported by Senior Advisors including Tim Franks, former Partner at KKR and Head of KKR’s UK Private Equity and EMEA Consumer teams, Matt Barger, former Managing Partner of Hellman & Friedman, Tim Church, former President of McKinsey Investment Office Partners and Sir Ian Davis, former Chairman and CEO of McKinsey & Company.
A decade of venture investing gives MS+PARTNERS differentiated visibility into emerging businesses years before they reach traditional buyout scale. Combined with the team’s institutional investment experience, this provides a proprietary sourcing advantage at the point where operational value creation becomes the primary driver of returns.
The firm recently realised its latest investment at 27.0x MOIC (representing approx. 2.5x DPI for the venture fund), while the team’s prior realised private equity investments have generated an aggregate 3.8x MOIC.
Portfolio Activity – First Two Investments Completed
MS+PARTNERS Fund I has already completed two investments. The first investment is iLERNA, Spain’s leading online vocational education platform, acquired alongside Jacobs Capital. The business is executing a buy-and-build strategy, including the recent acquisition of online university Isabel I.
The fund has also invested in Norway-based Maritime Robotics, a global leader in autonomous maritime technology, dramatically reducing maritime carbon emissions. The company develops advanced sea drones and autonomous navigation systems serving customers across offshore energy, security and ocean mapping.
Both investments illustrate the firm’s strategy of identifying market-leading businesses benefiting from powerful structural trends early in their scaling journey and partnering with management teams to build long-term category leaders through operational value creation.
MS+PARTNERS continues to advance an active proprietary pipeline and expects to announce additional investments during the second half of 2026.
Stanislas de Joussineau, Co-Founder and Managing Partner, commented:
“We are grateful for the confidence our investors have placed in MS+PARTNERS and proud to welcome such a distinguished group of institutional partners to our first fund.
We believe many of Europe’s future category leaders remain underserved by growth capital, despite benefiting from powerful long-term trends. Our strategy is built around partnering with exceptional founder-led businesses at inflection point, combining early ecosystem relationships with institutional investing capabilities to help them scale into market leaders.
Reaching this milestone while already completing two investments reflects both the quality of the opportunity set and our team’s ability to originate and execute differentiated investments. We are focused on building a portfolio of exceptional businesses and creating long-term value for investors, management teams, employees and ultimately serving to encourage and sustain livelihood in Europe.”
About MS+PARTNERS
MS+PARTNERS (“Mustard Seed + Partners”) is a European private equity firm headquartered in London that combines early access through the European venture ecosystem with institutional private equity discipline to invest in founder-led mid-market businesses at pivotal inflection points. The strategy is focusing on businesses positioned to benefit from long-term structural trends, where sustainability and technology create durable productivity, resilience and competitive advantages. The firm partners with management teams to build Europe’s next generation of category leaders through thematic insight, active ownership and operational value creation.
Press contact: info@mustardseed.partners
