Blume Equity Research
Investment Thesis
Blume Equity is a European growth equity firm based in London and Amsterdam. Its stated belief is that value creation and sustainability do not compete, they strengthen each other. The firm backs technology companies that build cleaner energy systems, smarter industry, and more climate-resilient economies. Its homepage line is "We back technology the world needs." The firm describes three operating principles: invest with clarity (sharp selection and long-term thinking), partner with intent (work side by side with founders, and scale with them), and build for the long term.
The portfolio shows a pattern. Most companies sell AI, data or IoT software and hardware into industrial and infrastructure customers: wildfire and grid risk (Overstory), field and maintenance video intelligence (Vyn), fleet video analytics (CameraMatics), industrial energy monitoring (Sensorfact), spare parts inventory AI (SPARETECH), wind turbine maintenance robots (Aerones), carbon accounting (Normative) and carbon removal (Neustark). Earlier deals include a food-waste marketplace (Matsmart / Motatos).
Stage Focus
Growth stage. Public deals are Series A to Series C or equivalent growth rounds, mostly Series B. Examples: a EUR 25M Series B in Sensorfact (2023), a $43M Series B in Overstory (Nov 2025), a $30M round in Vyn (Nov 2025) and a $20M Series B in SPARETECH (Nov 2026). Third-party directories list tickets above EUR 3M.
Check Size
The firm does not publish a check size. Third-party directories put the minimum ticket above EUR 3M. With a fund of about EUR 192M to 200M and a concentrated portfolio, typical initial checks are likely in the EUR 5M to 20M range. That range is an inference, not a published figure, and carries low confidence.
Lead Tendency
Both leads and co-leads. Blume led Sensorfact's Series B, Normative's round, Motatos' EUR 24M raise and Overstory's $43M Series B. It co-led Vyn's $30M round (alongside MSIM) and SPARETECH's $20M Series B (with Insight Partners).
Recent Activity
- Nov 2026: co-led SPARETECH's $20M Series B with Insight Partners; Headline participated.
- Sep 2026: invested in CameraMatics to expand its AI fleet intelligence platform across Europe and the US.
- Nov 2025: led Overstory's $43M Series B; co-led Vyntelligence's $30M round.
- Jan 2025: exited Sensorfact to ABB.
- Jan 2024: closed its debut fund at EUR 192M. The EIF committed EUR 40M under InvestEU and ABN AMRO also invested.
The firm is actively deploying from its debut fund. Pace is roughly two to three new platform investments a year.
Portfolio Highlights
- Sensorfact: industrial energy insight, exited to ABB in January 2025.
- Overstory: AI wildfire and vegetation risk for utilities, $43M Series B.
- Vyn: video AI for field operations, $30M round.
- CameraMatics: AI video telematics for fleets.
- SPARETECH: spare parts management AI, $20M Series B; customers include Nestle, Porsche, VW, Bosch and Sanofi.
- Aerones: wind turbine maintenance robots.
- Neustark: carbon removal in concrete.
- Normative: carbon accounting.
- Matsmart / Motatos: discount food marketplace.
Team
- Clare Murray, Co-Founding Partner. Named to Milken Institute Young Leaders Circle Europe (2026) and Top 50 Women in Sustainable Finance (2026).
- Eleanor Blagbrough, Co-Founding Partner.
- Michelle Capiod, Co-Founding Partner. Led the SPARETECH deal.
- Rens Mathot, Principal. Seven or more years in climate tech venture and growth investing.
- Kirby Lam, Director.
- Raxita Kapashi, Chief Financial Officer.
- Oliver Casale and Derk Diepeveen, Analysts. Nadia van der Meer, Investor Relations Analyst.
- Advisors: Diane Holdorf, Gloria Baeuerlein, Jenny Keisu, Lucinda Woods, Vivian Bertseka.
Decision Process
Partnership. Three co-founding partners lead deals and sign the announcements. No formal process or timeline is published.
Founder Preferences
Founders building technology with measurable industrial or climate outcomes, at a scale where growth capital and operating support matter. Founders' quotes in announcements stress that the partners understood the industrial world they sell into. The firm is an FCA-authorised LLP and is female-founded; it has won diversity and impact awards (Emerging Manager of the Year 2026, Environmental Impact Investor of the Year 2025).
Geographic Focus
Europe-headquartered companies, with offices in London (50 Grosvenor Hill) and Amsterdam. Portfolio companies are based in the UK, Netherlands, Germany, Latvia, Switzerland and Sweden. The firm supports US expansion for portfolio companies (Vyn, CameraMatics, SPARETECH).
Gaps
Check size, reserve policy and exact current fund size are not published on the site. AUM is set at about EUR 192M to 200M, converted roughly to USD, from press reports of the debut fund close.