How we differ

Our values

We can facilitate secondary markets.

As a lead investor, in later rounds we have the ability to generate secondary market opportunities for existing investors and management.

Conviction founders’ personal capital.

Conviction founders are the largest investors in early rounds of financing. No other Conviction investor carries more risk than the founders.

Our model is less dilutive.

Conviction follows Milestone based investing by funding modest amounts annually. This results in lower levels of equity dilution for the founders and existing shareholders.

View Milestone based investing model

We invest on the same terms as the founders.

Conviction is not a fund. Our terms are set on a deal by deal, round by round basis. This ensures maximum alignment with the founders and investors. We prefer to invest in straight equity and on simple terms.

Milestone based investing

Conviction follows the Milestone based investing model. Instead of providing businesses with large blocks of capital upfront, Conviction funds them with modest amounts annually. This helps to minimise dilution for the founders and existing shareholders.

Minimises equity dilution for founders and existing investors.

Short term milestones help ensure a higher degree of predictability and transparency for our investors.

Raising capital on an annual basis helps to provide a degree of liquidity in the secondary market for our investors.

Our investors have a rare opportunity to gradually build up their investment positions based on annual company results.

Portfolio companies are required to deliver on pre-agreed metrics each year to qualify for follow-on capital.

Track Record

Since inception in November 2017, Conviction has already seen 1 exit and 2 mergers.

iZettle

In June 2018 iZettle, the leading SME mobile payments platform in Europe and Latin America, sold to PayPal for $2.2bn generating 112% IRR for CIP investors over a 9 months’ period.

Akkroo

In March 2019 Akkroo, a UK-based Event Lead Capture provider, was acquired by US-based Integrate delivering a capital gain of 50% to CIP investors in just 6 months

Adepto

In December 2019 Adepto, a skills-based Total Talent platform, was acquired by US-bred Degreed, a leading provider of Learning Experience Platforms. We maintain our exposure in the merged entity.

Mimecast

Prior to managing CIP’s successful portfolio of tech companies, Founder Andrew Jenkins was involved in financing one of Europe’s largest tech unicorns, Mimecast Ltd.

Homeserve

Founder Jeremy Middleton is a serial entrepreneur and, most notably, a co-founder of a FTSE 250 company, HomeServe Plc which has a market cap in excess of £3.5bn