Synova

Synova is a growth focused investor supporting UK and Irish companies valued between £30m and £150m. The firm manages £750m of capital on behalf of institutional investors and family offices and invests across four sectors: Technology, Health and Education, Business Services and Financial Services.[1] Synova partners with founders and managers to accelerate growth and drive exceptional returns.

Synova
TypeLimited liability partnership
IndustryPrivate equity, venture capital
Founded2007
FoundersDavid Menton
Philip Shapiro
Headquarters,
Area served
United Kingdom
ProductsVenture capital, private equity funds, equity investment, management buy-in, management buyout, growth capital
AUM£750 million
Websitewww.synova.pe

The firm was named UK House of the Year at the 2020 Private Equity Awards and House of the Year at the 2019 British Private Equity Awards, the third time in six years Synova has won this prestigious accolade.[2] According to Preqin Synova's returns currently place the firm as the UK's top performing private equity fund.[3]

Synova was founded in 2007 by its managing partners, David Menton and Philip Shapiro. Synova's other partners include Tim Ashlin, Alex Bowden, Daniel Parker and Zachary Tsai.

Synova's 2007 Fund I was fully realised in 2018 generating a 4x return for investors. Synova's £110m 2013 Fund II has now returned three times its total invested capital following exits in 2018 and 2019 with only half the fund realised. Synova closed its 2016 third fund at £250 million which is performing strongly with three times its total invested capital returned with only a third of the fund realised. Synova closed its 2019 fourth fund at its £365m hard cap.

Notable exits include the sale of Kinapse to Hg Capital generating a 16x return, the sale of Tonic Games to Epic Games for a 9x return and 200% IRR, the sale of Mandata for a 8x return and the sale of Mintec to Five Arrows Principal Investments for a 12x return.

Current and past* investments

Company Year of investment Return Sector
TLG Brands* 2008 - Exited 2016 3.0x [4] Other
Clearwater Care* 2009 - Exited 2017 2.5x [5] Health
dbg* 2010 - Exited 2013 5.8x [6] Business Services
Kinapse* 2012 - Exited 2016 16.1x [7] Healthcare
Mandata* 2013 - Exited 2018 8.0x [8] Technology
MK Test 2014 Business Services
Stackhouse Poland* 2014 - Exited 2019 5.6x [9] Financial Services
Defaqto* 2015 - Exited 2019 3.9x [10] Technology
4Ways Healthcare* 2015 - Exited 2018 6.0x [11] Health
Merit Software* 2015 - Exited 2019 4.0x [12] Technology
Vistair 2015 Technology
Clyde Munro Dental 2015 Health
Travelsmart 2015 Other
Fairstone 2016 - Exited 2021 4.5x [13] Financial Services
Oakland 2016 Health
Avantra 2017 Technology
AllClear 2018 Financial Services
Mintec 2018 - Exited 2022 12.0x Technology
Chatsworth Schools 2019 Education
Pacifica 2019 Business Services
Tonic Games* 2019 - Exited 2021 9.0x [14] Technology
Preventx 2019 Health
Charnwood Molecular 2020 Health
JM Glendinning 2020 Financial Services
Orbis Protect 2021 Business Services
Doran + Minehane 2021 Business Services
National Education Group 2021 Technology

References

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