01
Europe's #1 tech PE investor
High-performance team - reduced complexity, clear process, high accountability
Achieve Cyber Essentials certificationTech15 AugSA
Roll out the portfolio governance & escalation modelFinance1 SeptMT
Open Munich officeDeals31 AugMK
Exit surplus Bannerflow contractor by year-endDeals31 DecMK
Triage new situations within 7-10 daysDeals30 SeptBG
Complete Fee's top-team handoverDeals31 OctCL
Standardise investment-lead KPIs across firmDeals30 SeptCH
Complete SharePoint re-architecture migrationTech31 AugSA
Set up Munich and London office ITTech31 AugSA
Operationalise IT roadmap with monthly reviewTech31 OctSA
Pen-test new applicationsTech30 NovSA
Assess and upgrade cyber tooling beyond DefenderTech30 NovSA
Simplify tool/AI adoption governanceTech31 AugSA
Hold 100% device compliance and zero critical vulnsTech31 DecSA
Fix meeting-room AV reliabilityTech31 AugSA
Build AI-generated firm quarterly-report toolTech31 OctSA
Complete Steve Woods handover to ReeseGrowth7 AugJR
Hold investment-lead IC compliance at 90%Finance31 DecMT
Standardise IC templates, models and papersFinance31 OctMT
Run post-deal IC feedback-loop reviewsFinance30 NovMT
Run binary technical+cultural annual reviewsPeople31 OctKF
Enforce HubSpot standards monthly with namesPeople30 SeptKF
Implement contract-gating checklist pre-DocuSignPeople31 OctPV
Adapt to new probation employment law (July 1)People31 AugKF
Resolve Swedish analyst contract via performancePeople31 OctKF
Monitor searches running over 12 weeksSearch31 OctRM
Ship AI-generated business-plan report engineTech31 OctGG
Support career growth & development, augmented with talent density
Onboard Boris in the Munich officeDeals21 JulMK
Launch the analyst Academy programmePeople30 SeptKF
Decide the Head of AI hireTech24 JulSA
Hire Europe investment leadDeals31 OctBG
Bed in early French associate hireDeals31 AugBG
Hire additional UK investment lead (SL3)Deals30 NovCL
Hire two UK investment supportDeals31 DecCL
Focus induction on new-joiner first six monthsPeople30 NovKF
Strengthen analyst program via planning phasePeople30 NovC
Manager-led onboarding of senior hiresPeople31 OctKF
Boost academy provision with Clem and AmyPeople30 NovC
Resolve HR hire vs Clem role overlapPeople30 NovKF
Hit 12-week time-to-hire for investment leadsSearch31 OctRM
Build formal search tracking in HubSpotSearch30 SeptRM
Run internal/junior searches in-house via ATSSearch31 OctRM
Formalise executive-search playbooksSearch30 SeptRM
Focus embedded talent on portfolio C-suiteSearch31 DecRM
Align talent process with pan-European HRSearch30 NovRM
Decide in-house vs external search-partner mixSearch30 NovRM
Increased proactive origination >12 months ahead
Open the Paris officeDeals1 SeptBG
Sign a France investment leadDeals30 SeptBG
Rebuild Benelux advisor coverage (6 to 15)Deals15 AugBG
Complete the brand refresh + firm-wide rolloutBrand22 AugSD
Open Stockholm office with launch eventDeals1 SeptMK
Build DACH deal pipeline for H2Deals31 DecMK
Launch Italy coverageDeals30 NovBG
Reaccelerate Benelux pipelineDeals31 OctBG
Deliver 8 IC1s for the year (Europe)Deals31 DecBG
Fix Benelux advisor long-tail coverageDeals31 AugBG
Hold Europe top-team coverage at 97%Deals30 SeptBG
Deliver 12 IC1s this year (UK)Deals31 DecCL
Define UK origination process split (Carl/Gareth)Deals31 OctGH
Decide Munich 'Come First Stories' eventBrand31 AugSD
Deliver monthly insight-led origination contentBrand31 DecSD
02
70% YoY growth in invested capital
Build high demand for Tenzing IV
Stand up the LPAC + draft PPM/DDQIR10 AugLS
Produce AI-generated investor-relations filmBrand30 SeptSD
Integrate brand identity firm-wide via AIBrand31 OctSD
Refresh website with AEO/SEO optimisationBrand31 DecSD
Drive Fund IV fundraise to next hurdleIR31 DecLS
Deliver phase-2 data room (LPAC/legal)IR30 NovLS
Draft Fund IV PPM and DDQIR30 NovLS
Deliver LPAC structure skeletonIR31 AugLS
Complete existing-LP coverage via roadshowsIR30 SeptLS
Own 600-line prospect tracker with weekly cadenceIR31 OctLS
Assess VDR/investor-servicing providersIR31 OctLS
Run quarterly client-services reporting cadenceIR31 DecLS
Steady pacing & growth in invested capital (Fund III & II top-ups)
Close the Bannerflow platform deal (DE)Deals31 AugMK
Land the MPLC platform deal (UK)Deals1 JunCL
Take the Phase-1 data room liveIR31 AugLS
Ship the LP / VDR fundraising toolTech1 SeptSA
Sign new Europe platform deal by SeptemberDeals30 SeptBG
Complete a Europe deal within 12 monthsDeals31 DecBG
Keep MPLC/UK portfolio at 2-deals-per-18-monthsDeals31 DecCL
Maximise Fund II invested capital, through to an Ascension Fund
Re-underwrite Fund II - identify equity levers for extra growthGrowth31 AugJR
Restructure IQ facility to enable liquidity eventDeals30 NovBG
03
Consistent top-quartile returns
Top decile & <10 yrs on Fund I
Sequence Fund I exits to lock top-decile (<10 yr)Deals30 SeptCL
Top 1/4 throughout, ideally on all core metrics
Bannerflow turnaround planGrowth1 AugJR
Move Bannerflow off red / stabilise turnaroundDeals31 OctMK
Recruit new Bannerflow CEODeals30 NovMK
Run weekly Bannerflow blocker roundupDeals31 AugMK
Strip cost out of Samples portfolio coDeals31 DecMK
Sell Parasolphus (portfolio realisation)Deals31 DecBG
Deploy CFO covenant-compliance checklistFinance30 SeptMT
Reset financial governance setup for new dealsFinance31 OctMT
Impactful & scalable growth team, AI nascent
Stand up the growth 'special measures' frameworkGrowth15 SeptJR
Roll Compass out to the full portfolioTech30 SeptSA
Integrate cross-platform content analyticsBrand30 NovSD
Complete deploy application rolloutTech30 SeptSA
Embed AI across investment-team workflowsTech31 DecSA
Build AI-powered tending/reporting engineTech31 DecSA
Build consolidated dashboard per portfolio companyTech31 DecSA
Run portfolio AI strategy training and roadmapsTech31 DecSA
Embed weekly growth-lead review cadenceGrowth30 SeptJR
Build recoverability/billing dashboard in HubSpotGrowth30 SeptJR
Scale growth network with two-way feedbackGrowth30 NovM
Build turnaround-director benchGrowth30 NovM
Track growth-network rate-card cost and valueGrowth30 NovM
Align new ESG program with growth modelGrowth30 NovM
Move Kev to dedicated builder roleGrowth31 OctK
Confirm 70% growth recoverability targetsGrowth30 SeptJR
Compound mid-tier portfolio growth 15% to 20%Growth31 DecJR
Automate MI reporting via AI dashboardFinance30 NovMT
Funds
Tenzing I2018 · HarvestingTop decile · ~4x · full liquidity by year 10On track
Tenzing II2021 · Value creationTop quartile · pull equity levers for extra growthAt risk
Tenzing III2024 · InvestingDeploy to plan · performing to underwritingOn track
Tenzing IV2027 · FundraisingRaise 3x cover by Jan 2026 · close within 6 monthsAt risk
Portfolio companies
SavilleAssessment softwareEscalation L2
BannerflowMarTech / creativeEscalation L2
ActivCompliance SaaSEscalation L1
CardstreamPayments
VantageData & analytics
MeridianVertical SaaS
KonftelComms hardwareEscalation L1