A new private equity firm, Aspirity Partners, has closed its first fund at just over €875 million, marking a significant moment for Europe’s financial and enterprise technology sectors.
The London-based firm aims to support mid-market businesses, companies that are often too mature for early-stage venture capital but not yet large enough to attract the biggest private equity players.
This segment of the market has been gaining attention. While Europe remains one of the world’s largest hubs for business-to-business (B2B) technology, many founders in fintech and enterprise IT say they struggle to find investment partners who understand the specific operational and regulatory realities of their industries. Aspirity’s founders say that is exactly the gap they are stepping into.
Aspirity Partners was founded by Managing Partner Joseph O’Mara and Partner Ralph Choufani. O’Mara brings more than two decades of experience in transatlantic private equity, while Choufani adds a decade of sector-focused investing. Their backgrounds are critical to Aspirity’s value proposition: both have spent their careers working within the industries they now fund.
The firm wants to be what it calls a “trusted and value-adding capital partner”, in other words, not just a financial backer, but a strategic one.
The firm’s first fund, Aspirity Partners I, hit its hard cap at over €875 million in less than six months, an unusually fast period for a first-time private equity vehicle in Europe. This speed suggests strong investor demand for sector-specialized funds at a time when many generalist funds have struggled to close.
Aspirity plans to invest between €50 and €150 million per deal, targeting both growth buyouts and strategic minority stakes. The aim is to support companies with stable revenue models and long-term expansion opportunities, particularly across Europe’s financial infrastructure and enterprise technology services.
Aspirity’s focus spans two key areas: Financial Technology & Services and Enterprise Technology & Connectivity
Both sectors sit at the backbone of European economic modernisation. Financial services remain one of the largest contributors to Europe’s GDP, and enterprise technology has been growing steadily as companies continue to digitize operations.
Research from the European Investment Bank has shown that digital adoption among mid-market European firms lags behind U.S. counterparts, suggesting substantial room for growth and modernization.
