London-headquartered Copilot Capital, a new private equity firm focused on backing the next generation of European software champions, has launched a new $200 million fund. The fund was co-founded and seeded by an investment division of The Friedkin Group.
Investment strategy
This fund will be used to scale ambitious software companies that are bootstrapped by founders or have reached the end of the venture capital lifecycle.
It aims to back software businesses looking to scale and help founders drive further growth and profitability, with a specific focus on go-to-market strategy, internationalisation, acquisitions, and data & AI.
Recognising a gap for investing in lower mid-market software across Europe, Copilot Capital plans to back companies generating €5 million to €15 million in annual recurring revenue and empower founders to lead their businesses into the next growth phase.
Invests in Danish startup
Alongside the fund’s launch, Copilot Capital has made its first investment into Danish-based Relesys. It is an all-in-one employee app for frontline workers in the retail industry.
The Relesys SaaS platform is used by leading organisations such as Specsavers, COOP, and Vue Cinemas. It enables companies to boost frontline performance by combining employee communications, learning, and task management in a single user-friendly app.
Relesys’ founders Jesper Roesgaard and Jens Ole Lebeck will use the majority of the proceeds back into the business.
Jesper Roesgaard, Relesys’ co-founder stated: “In Copilot Capital, we’ve found the right partner to take our business to the next level and become the leader in next-generation tech for frontline workers. In addition to funds to invest in our growth journey and market-leading employee engagement platform, Copilot brings strategic know-how, commercial and financial expertise, and a strong network in the retail industry. We share the same values for running a business like Relesys, and I am confident this is the best long-term solution for our customers and the entire Relesys team, which is also reflected in our reinvestment in the new set-up.”
The team behind Copilot Capital
The VC was co-founded by John Messer and Danny Friedkin. John was previously at Tenzing, where he focused on software buyouts including leading the fund’s record return of 9.6x for CitNOW. Danny Friedkin is the Principal of The Friedkin Group International (TFGI), a global investment firm focused on creating and seeding new private equity firms.
It employs proven, repeatable strategies designed to accelerate the growth of market-leading products. Copilot’s active investment approach embraces calculated risk-taking and aims for long-term excellence and prosperity across its portfolio.
John Messer, Copilot Capital’s co-founder stated: “There are 60,000 SaaS companies across Europe. Many of these maturing businesses don’t fit the profile of a typical VC or buyout fund and fall through the cracks, despite their obvious potential. Our goal is to identify businesses with market-leading products and proven revenue models and equip them with the capital and expertise to scale into software champions.”
Danny Friedkin, another co-founder commented: “John’s focus on identifying overlooked potential aligns perfectly with The Friedkin Group’s approach. Our success has stemmed from making unique contributions to a founders’ growth journey, and finding value where others haven’t. We’ve backed many exceptional founders and management teams across a diverse range of industries. John and the Copilot Capital crew are the next chapter in that adventure.”
