How many investments has Bregal Milestone made?

Bregal Milestone has 16 tracked investments, including 3 dated in the last 24 months.

What stage does Bregal Milestone invest at?

Bregal Milestone invests at the Growth stage.

What is Bregal Milestone's typical check size?

Bregal Milestone typically writes checks of $33M – $165M.

Where is Bregal Milestone located?

Bregal Milestone is headquartered in London, GB.

Does Bregal Milestone lead rounds?

Yes, Bregal Milestone leads investment rounds.

Who does Bregal Milestone co-invest with?

Bregal Milestone most often shares deals with Golub Growth, Kreos Capital, Level Equity, among 9 tracked co-investors.

Bregal Milestone

Growth equity

ABregal Investmentssoftware growth fund

London · Growth · 9 people tracked

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Investment thesis

Bregal Milestone focuses on building European software champions by backing high-growth, mission-critical B2B software companies. The firm positions itself as more than a capital provider, acting as an extension of a company's team. Its approach centers on three pillars: accelerated growth driven by data and AI capabilities that uncover market and competitive opportunities; flexible structuring across both majority and substantial minority investments; and bespoke value creation delivered through its in-house team, Milestone Performance Partners. The firm emphasizes operational excellence, data science, and sustainability as an indicator of long-term value creation, aiming to help portfolio companies reach their full potential and become market leaders.

Invests inAI & Machine Learning Cybersecurity Enterprise Software Fintech Media & Entertainment SaaS Europe London

Source: firm website, verified Sep 27, 2026.

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Stage

Growth

Check

$33M – $165M

London, GB

Leads rounds

Leads

Instruments

Equity

Last 12 months

1 investment

Tracked investments

Team · 9 people

from the firm's website

Cyrus Shey· Managing Partner· London, England, United Kingdomin

Cyrus Shey is a Managing Partner of Bregal Milestone and sits on the firm's investment committee. Before co-founding Bregal Milestone, he co-founded and led the European middle market lending business at Credit Suisse, and previously held senior roles at Goldman Sachs focused on leveraged buyouts and growth capital financings. He began his career as a strategy consultant at Accenture in London and holds a B.Sc. in Business Administration from Georgetown University.

cyrus.shey@bregalmilestone.com

Ian Kwok· Partner· Greater London, England, United Kingdomin

Ian Kwok is a Partner at Bregal Milestone, contributing operating and technology sector experience to management teams. He previously served as a Vice President at Insight Partners, helping portfolio companies build go-to-market teams, and earlier led Sales Strategy and Operations at ZocDoc; he also owned an automotive dealership group that was sold to Lithia Motors in 2014, and began his career at Centerview Partners working on M&A transactions. He holds an MBA from the Wharton School at the University of Pennsylvania and a BA from Pomona College.

ian.kwok@bregalmilestone.com

Rob Hetherington· Partner & Head of Milestone Performance Partners· Greater London, England, United Kingdomin

Rob Hetherington is a Partner at Bregal Milestone, where he leads the in-house value creation team, Milestone Performance Partners (MPP). Before joining the firm, he spent 25 years in the software and services sectors, holding leadership roles at SAP and Blue Prism and serving as a senior partner with pan-European responsibilities at Accenture and Cap Gemini. His work centers on operational support to help portfolio companies scale and grow enterprise value. He holds an MBA from London Business School and a B.Com degree.

rob.hetherington@bregalmilestone.com

Sebastian Charpentier· Principal· Greater London, England, United Kingdomin

Sebastian Charpentier is a Principal at Bregal Milestone. Before joining the firm, he worked as an Investment Banking Analyst at Houlihan Lokey on the Data & Analytics M&A team, advising companies on transactions. He holds a BSc in Politics from the University of Bristol and an MA in International Political Economy from King's College London.

sebastian.charpentier@bregalmilestone.com

Andrea Strand· Vice President· London Area, United Kingdomin

Emmanuel de Croÿ· Managing Director, Milestone Performance Partners· London, England, United Kingdomin

Emmanuel de Croÿ is a Managing Director on the Milestone Performance Partners team at Bregal Milestone, serving as Portfolio CFO and Head of Capital Markets. Before joining Bregal, he worked as an Investment Banking Analyst at Evercore, advising on M&A and healthcare transactions. He holds a double M.Sc. in Management and a CEMS degree from the London School of Economics, and a B.Sc. in Business Engineering from Université Saint-Louis in Brussels.

emmanuel.decroy@bregalmilestone.com

Merlin Ruchti· Associate

Susy Xu· Vice President· London, England, United Kingdomin

Susy Xu is a Vice President at Bregal Milestone. She previously worked as an Investment Banking Associate at Morgan Stanley in London, advising on M&A and capital markets transactions in the real estate industry, and earlier held roles at the financial advisory firm Stout and at EY in Chicago in public accounting. She holds an MBA from IESE Business School and a BSc in Accounting from the University of Southern California.

susy.xu@bregalmilestone.com

Visar Shabi· Operating Director, Milestone Performance Partners· London Area, United Kingdomin

What they invest in

from 10 of 16 portfolio companies

SaaS ×7AI & Machine Learning ×5Fintech ×3Climate Tech ×2E-commerce ×2Enterprise Software ×2Logistics & Supply Chain ×2Retail Tech ×2

HQs:Spain×2Finland×2Germany×1Italy×1Netherlands×1Sweden×1

Investments · 16 tracked

founders shown can be your intro path

By year:2026 · 1 2025 · 2 2022 · 1 2021 · 1 2020 · 16 dated

Epassiepassi.com✓ verified

Epassi provides mobile-payable employee benefits and corporate wellbeing services—covering sport, culture, commuting, wellness, and bike benefits—for employers and their staff.

FintechHR TechWellness & Fitness

Risto Virkkala(Epassi Founder)Niklas Löfgren inNickyl Raithatha(Group CEO)inRegina Duzanskaja(CFO)Phil Jones(CRO)inCho Hwang(CTO)in

Co-investorsTA Associates Warburg Pincus

AnywhereNowanywhere.now in

AnywhereNow builds cloud-based, AI-powered contact center software native to Microsoft Teams, offering omnichannel routing, agent assistance, and low-code workflow design.

AI & Machine LearningCloud ComputingEnterprise SoftwareSaaSThe Netherlands, NL

Epipoliepipoli.comJan 2025

Epipoli is a provider of alternative payment solutions and prepaid/gift cards distributed across retail points of sale, allowing consumers to shop in-store and online without a bank account or credit card.

FintechRetail TechMilano, IT

Gaetano Giannetto(Founder and CEO)in

Co-investorsInvestcorp

M-Filesm-files.com in 𝕏

M-Files provides a context-first document management platform that connects documents to the work they support, enabling organizations to automate document-driven processes and apply AI with confidence.

AI & Machine LearningData & InfrastructureEnterprise SoftwareSaaSTampere, FI

Antti Nivala(Founder)in

Co-investorsGolub Growth Partech Ventures Draper Esprit

meteovivameteoviva.comMay 2026

MeteoViva provides software-based solutions for reducing energy consumption and CO2 emissions in buildings, offering guaranteed savings of up to 45 percent and more cost-efficient building operation.

Climate TechEnergyPropTech

Co-investorsBregal Investments

Odiloodilo.es in 𝕏

ODILO provides data-based, personalized learning solutions that let organizations offer unlimited digital learning to their users.

AI & Machine LearningEdTechImpact & Social GoodSaaS

Co-investorsActive Venture Partners Kibo Ventures Swanlaab Venture Factory CDTI JME Ventures

Paackpaack.co inNov 2020

Paack operates a proprietary technology platform for last-mile eCommerce parcel delivery, automating and optimizing logistics operations while focusing on sustainability and reduced carbon emissions.

AI & Machine LearningClimate TechE-commerceLogistics & Supply ChainSaaS

Fernando Benito Galobart(Founder)inXavier Rosales(CEO)

Co-investorsAcurio Ventures Bonsai Partners SGEIC, SA Castel Capital FJ Labs InfraVia Capital Partners Kibo Ventures +5 more

Productsupproductsup.comApr 2022 · $70M

Productsup operates a feed management and syndication platform that lets brands and large-scale commerce operations manage, optimize, and distribute product content to retailers, distributors, data pools, and emerging AI/agentic commerce channels from a single system.

E-commerceRetail TechSaaS

Co-investors42CAP

Ridangoridango.com inMar 2025

Ridango develops an account-based ticketing and fare management platform for public transport authorities and operators, enabling centralized customer management, fare configuration, and multi-channel sales.

FintechGovTechLogistics & Supply ChainMobility & TransportationSaaSStockholm, SE

Co-investorsBaltCap

Uberalluberall.com inJul 2021

Uberall is a multi-location marketing platform that helps brands manage their online presence across search engines, maps, AI tools, and social media.

AI & Machine LearningMarketing TechSaaSBerlin

David Federhen(Founder)inFlorian Hübner(Founder)inJosha Benner(Founder)

Co-investorsFrontier Venture Capital HPE Growth Kreos Capital Level Equity Project A Ventures Project Ventures

Other

Tracked investments with no reachable website or further public details — typically companies that wound down, renamed, or were absorbed.

AllsharesCafeynCoreGoCyberSentriqInfoCertSkySparc

Portfolio news

latest coverage across their companies

meteoviva Receives Investment From Bregal Milestone

meteoviva · finsmes.com · May 6, 2026

Epassi’s growth continued strongly in 2024. | Epassi

Epassi · epassi.com · Sep 19, 2025

Frequently asked questions

How many investments has Bregal Milestone made?: Bregal Milestone has 16 tracked investments, including 3 dated in the last 24 months.
What stage does Bregal Milestone invest at?: Bregal Milestone invests at the Growth stage.
What is Bregal Milestone's typical check size?: Bregal Milestone typically writes checks of $33M – $165M.
What sectors does Bregal Milestone focus on?: Bregal Milestone focuses on AI & Machine Learning, Cybersecurity, Enterprise Software, Fintech, Media & Entertainment, SaaS.
Where is Bregal Milestone located?: Bregal Milestone is headquartered in London, GB.
Does Bregal Milestone lead rounds?: Yes, Bregal Milestone leads investment rounds.
Who does Bregal Milestone co-invest with?: Bregal Milestone most often shares deals with Golub Growth, Kreos Capital, Level Equity, among 9 tracked co-investors.

Media · Podcasts & interviews

featuring the team

EUVC #22, Cyrus Shey, Bregal Milestone - YouTube

The European VC · Cyrus Shey

Images

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