How many investments has Forestay Capital made?

Forestay Capital has 27 tracked investments, 2 of which have exited, including 4 dated in the last 24 months.

What stage does Forestay Capital invest at?

Forestay Capital invests at the Series A, Series B, Series C, Growth stages.

What is Forestay Capital's typical check size?

Forestay Capital typically writes checks of $10M – $20M.

What sectors does Forestay Capital focus on?

Forestay Capital focuses on AI & Machine Learning, Data & Infrastructure, Enterprise Software, SaaS.

Where is Forestay Capital located?

Forestay Capital is headquartered in London, GB.

Does Forestay Capital lead rounds?

Yes, Forestay Capital leads investment rounds.

Who does Forestay Capital co-invest with?

Forestay Capital most often shares deals with Acton Capital, Anais Ventures, Index Ventures, among 48 tracked co-investors.

Forestay Capital

Venture capital

London · Series A–Growth · 14 people tracked

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Find your way into Forestay Capital

1,426 people in our graph share verified history with the Forestay Capital team — schools, employers, funds. One of them is your warm intro.

Hannah Sealunlockedknows Julien van den Rul · together at Fonoa (overlapped)

knows the team · via Nexthink

knows the team · via Fonoa

knows the team · via Icometrix

knows the team · via Healthcare Business of Merck

knows the team · via Deutsche Bank

✨ Fox Verdict

Investment thesis

Forestay focuses on Enterprise AI and SaaS, targeting early-growth stage companies typically raising Series A through C rounds across Europe, Israel, and the US East Coast. It backs companies leveraging AI and data with proprietary technology, scalable business models, and strong management teams, organized around four core investment themes. Forestay seeks to lead rounds, writes $10-20M initial tickets, and reserves substantial capital for follow-ons. The firm conducts disciplined due diligence, comes to conviction quickly, and actively applies its sector and scaling expertise to drive significant growth within roughly five years of investment.

Invests inAI & Machine Learning Data & Infrastructure Enterprise Software SaaS Europe Geneva Global Israel London United States

Source: firm website, verified Aug 3, 2026.

Stage

Series A–Growth

Check

$10M – $20M

London, GB

Leads rounds

Leads

Instruments

Equity

Founded

2018

Last 12 months

1 investment

Tracked investments

Acquisitions

Team · 14 people

from the firm's website & curated & public directories

Frederic Wohlwend· Managing Partner· Geneva, Geneva, Switzerlandin

Founding and Managing Partner of Forestay Capital who previously held Chief Digital Officer roles at Serono, Merck KGaA, and Waypoint Capital (now B-FLEXION). He also advises Ernesto Bertarelli's B-FLEXION group on tech ventures globally.

f•••@forestay.vcreveal

Deborah Pittet· Partner· Genevain

Partner at Forestay who previously worked in Pictet's private equity team investing across technology, industrials, and consumer goods. She focuses on early growth-stage founders building AI-driven enterprise software, with particular interest in productivity, data infrastructure, and cybersecurity.

d•••@forestay.vcreveal

Kenneth Wong· Managing Partner· Hong Kong SARin

Kenneth Wong is a founding Partner of Primavera Capital Group, where he serves on the Investment Committee and co-chairs the Investment Portfolio Monitoring and Management Committee. He previously led the firm's financial services investments and now oversees its special situations investments. Before Primavera, he was a Managing Director in the Financial Institutions Group at Goldman Sachs and a Director at UBS Investment Banking, and he holds a Bachelor of Arts in Law from Cambridge University.

Jannat Rajan· Principal· Londonin

A generalist investor focused on software shaping the future of administrative work, financial services applications, and B2B network effects. Previously held senior roles at Hopin and Lean Technologies, worked as a Venture and Growth Capital investor at AXA Venture Partners, and started her career in investment banking at Deutsche Bank.

j•••@forestay.vcreveal

Jonas Jeandupeux· Principal· Paris, Île-de-France, Francein

Jonas Jeandupeux joined Forestay Capital after working in tech investment banking in Europe and Israel, where he advised over 20 tech companies on fundraising, M&A, and IPOs. He focuses on analyzing specific verticals to identify AI/ML software opportunities, particularly in industrial technology, supply chain, and mobility. He is half Swiss, half French, and speaks English, French, German, and Spanish.

j•••@forestay.vcreveal

Bin Jin, PhD· Data Science Manager· Geneva, Geneva, Switzerlandin

Bin Jin is a Data Science Manager at Forestay Capital with experience in quantitative research and statistical analysis applied to financial markets. He holds a PhD and is pursuing CFA Level II certification. His background encompasses machine learning and AI applications for data analysis in both public and private market contexts.

b•••@forestay.vcreveal

Jacob Emanuel Toresson· Associate· Switzerlandin

j•••@forestay.vcreveal

Stacey Mulvanerty· Team Assistant· London, England, United Kingdomin

Stacey Mulvanerty is a Team Assistant at Forestay Capital with nearly 13 years of experience in executive support roles within investment banking. Her background includes office management and expertise in travel coordination, visa processing, scheduling, meeting documentation, presentation preparation, and internal event organization.

s•••@forestay.vcreveal

Varun Doshi· Associate· United Kingdomin

Varun Doshi is a VC investor at Forestay Capital, the venture capital arm of a multi-asset manager with $100 billion in assets under management. He focuses on B2B and enterprise technology investments at the Series A through Series C stages.

v•••@forestay.vcreveal

David Ephrati· Senior Associate

d•••@forestay.vcreveal

Julien van den Rul· Vice President· Londonin

Julien joined Forestay from HarbourVest, where he worked on private equity investments across Europe, and previously was a consultant at Strategy& (formerly Booz & Co) advising on M&A and strategy in software. He focuses on verticalized AI/ML applications with strong data moats that automate enterprise workflows in legal, finance, supply chain, and industrial sectors.

j•••@forestay.vcreveal

Labinot Brahimi· Vice President· Geneva, Geneva, Switzerlandin

Labinot Brahimi is an investor at Forestay, the technology venture capital fund of B-FLEXION, where he works on the fund's activities in Israel, the US East Coast, and Central and Eastern Europe, and serves as an investor and board member at Datavations. Before joining Forestay, he spent five years in the Mergers & Acquisitions team at PwC in Geneva, working on middle-market transactions across industries including industrials, retail, life sciences and pharmaceuticals, and technology, media, and telecommunications. He holds a Bachelor in Business Administration from the University of Geneva (HEC) and a Master in Finance from Northeastern University in Boston, and is a CFA charterholder.

l•••@forestay.vcreveal

Ndiawar Sar· COO

n•••@forestay.vcreveal

Nicolas Slotine· Vice President· Londonin

French-American investor focused on AI/ML, data, and vertical SaaS. Before Forestay he worked at venture builder Blenheim Chalcot and on the Product & Strategy team at London fintech Modulr. Holds an INSEAD MBA.

n•••@forestay.vcreveal

What they invest in

from 18 of 27 portfolio companies

AI & Machine Learning ×11Enterprise Software ×9SaaS ×9Deep Tech ×4Fintech ×4Data & Infrastructure ×3Future of Work ×3Advanced Manufacturing ×2

HQs:Switzerland×3United Kingdom×3Belgium×1Germany×1Finland×1France×1

Who they back

founder profiles across 10 portfolio companies

30%

solo founders

3 of 10 mapped founding teams

50%

repeat founders

of 12 founders with career history

Founding team size:solo founder×32 founders×43 founders×3

Where their founders studiedfrom 16 founders with education data

ETH Zürich ×3Massachusetts Institute of Technology ×2University of Cambridge ×2University of Zurich ×2Uppsala University ×2

What their founders studiedfrom 15 founders with field-of-study data

Computer Science ×6Business & Management ×4Economics ×3Engineering ×2Mathematics & Statistics ×2Physics ×2

Where their founders worked beforefrom 12 founders with career history

Uber ×2

Investments · showing 25 of 27

founders shown can be your intro path

By year:2026 · 1 2025 · 3 2024 · 1 2022 · 16 dated

Eventsnotioncapital.com in 𝕏✓ verified

Pivot is an AI operating system for procurement that manages the complete procurement lifecycle in a single platform, built on a modern data layer with real-time ERP connections and AI agents for tasks such as benchmarking, intake requests, and negotiations.

AI & Machine LearningDeep TechDefense TechEnterprise SoftwareFintechHR TechRoboticsSaaS

Paddy(Founder)Malcolm Crease(CEO & Founder)Marc-Antoine Lacroix(Co-founder)Romain Libeau(Co-founder)Estelle Giuly(Co-founder)Stephen Millard in

Co-investorsNotion Capital A16Z Speedrun Enterprise Capital Funds Companyon Ventures EPIC VENTURES FirstMark Capital +1 more

Alvenalven.co in

Alven is an independent early-stage venture capital firm that invests in and supports entrepreneurs, with a portfolio that includes companies such as Qonto, Typology, Gorgias, and Yubo.

Sector Agnostic

Co-investorsPeak Accel Amplify Partners CV Dag Ventures SaaStr Fund Salesforce Ventures +1 more

B-FLEXIONbflexion.com in 𝕏

Strategic Investment Group provides outsourced investment management for institutions, including strategic asset allocation policy design and back-office support.

BiotechFintechHealthtechSector Agnostic

Blueboticsbluebotics.com in

BlueBotics develops natural feature navigation technology (ANT) that helps manufacturers of AGVs, automated forklifts, and mobile robots make their vehicles easier to install and operate, primarily for intralogistics and industrial automation.

Advanced ManufacturingDeep TechLogistics & Supply ChainRoboticsLausanne, CH

Nicola Tomatis(CEO)in

Buynomicsbuynomics.com inMar 2025 · $30M

Buynomics builds a Virtual Shoppers AI that integrates multiple data sources to predict shopper behavior and support commercial and pricing decisions for enterprises.

AI & Machine LearningRetail TechSaaSSales Tech

Ingo(Founder/Managing Director)Sebastian Baier(Founder/Managing Director)inDr. Ingo Reinhardt(Founder/Managing Director)Anton Von Lampe(COO)in Mario Koenigsfeld(VP of Revenue)inPiotr Malinski(VP Engineering)in

Co-investorsAnais Ventures DvH Ventures Insight Partners La Famiglia Tomahawk.VC VI Partners

Datavationsdatavations.ai inJul 2025 · $17M

Datavations provides prescriptive data analytics to building materials and home improvement manufacturers, enabling them to optimize operations at store, local market, and SKU levels.

Data & InfrastructureDirect to Consumer

Philip Odelfelt(Founder)inJacob Lucas(Founder)in

Co-investorsMorpheus Ventures

Fonoafonoa.com in 𝕏May 2026 · $110M

Fonoa provides a tax automation platform that calculates taxes, validates tax identifiers, and ensures compliance across 190+ countries and U.S. states.

AI & Machine LearningEnterprise SoftwareFintechSaaSZagreb, HR

Filip Sturman(Founder)in Davor Tremac(Founder)in

Co-investorsCoatue Management Dawn Capital Headline Headline Growth Management, LLC Index Ventures OMERS Ventures +4 more

Fornovafornova.com in 𝕏

Fornova provides business intelligence and distribution intelligence software for hotels, OTAs, and travel companies, tracking hotel rates and website data across brand.com, OTA, metasearch, and car rental sites to help them optimize distribution and revenue.

Data & InfrastructureSaaSTravel & HospitalityLondon, GB

Dmitry Babitsky(Founder)in Michael Rubanovich(Founder)in

Co-investorsJAL Ventures Ltd.noa Waypoint Capital

Howspacehowspace.com in 𝕏

Howspace is a collaborative learning and enablement platform that helps organizations move from content delivery to active participation, turning strategy into ongoing action through dialogue and shared problem-solving.

EdTechFuture of WorkSaaSJyväskylä, FI

Ilkka Mäkitalo inOlli-Pekka Juoperiin

Co-investorsInventure Midinvest Management Oy

Icometrixicometrix.com in 𝕏

Icometrix develops AI-powered medical imaging software for analyzing brain MRI scans to help clinicians diagnose and monitor neurological conditions like Alzheimer's disease, stroke, and traumatic brain injury.

AI & Machine LearningDigital HealthMedical DevicesLeuven, BE

Wim Van Hecke(Founder)in

Co-investorsCapricorn Venture Partners Heran Partners Optum Ventures

K2Viewk2view.com in 𝕏

K2view provides a data management platform built around Micro-Databases, where all data for a single business entity (such as a customer, order, or product) is unified from source systems, isolated, encrypted, and kept in sync.

AI & Machine LearningData & InfrastructureEnterprise SoftwarePlano, US

Achi Rotem(Founder)in Ronen Schwartz(CEO)in

Kandoukandou.com in 𝕏

Kandou AI develops high-speed, energy-efficient connectivity solutions for semiconductor and AI infrastructure, focusing on reducing system costs to enable scalable AI systems.

AI & Machine LearningDeep TechSemiconductors

Co-investorsBessemer Venture Partners DC Investment Partners Verve Ventures Maverick Silicon SoftBank Group Swisscom Ventures

Luminanceluminance.com in 𝕏Feb 2025 · $75M

Luminance provides AI-powered document analysis software for legal investigations, arbitrations, and litigation matters, enabling faster discovery processes and early case assessment through automated search, filtering, and compliance features.

AI & Machine LearningEnterprise SoftwareLegalTechCambridge, GB

Adam Guthrie(Co-Founder and Chief Technical Architect)inDr Graham Sills(Co-Founder and Director of AI)Eleanor Lightbody(Chief Executive Officer)in

Co-investorsGTM Capital March Capital Partners Point72 Ventures RPS Ventures Runa Capital National Grid Partners +1 more

Neural Conceptneuralconcept.com inJun 2024 · $27M

Neural Concept provides AI-powered engineering software that accelerates product design and R&D cycles for manufacturers across industries like electric vehicles, aerospace, and energy.

Advanced ManufacturingAI & Machine LearningDeep TechEnterprise SoftwareSaaSSwitzerland, CH

Co-investorsAnais Ventures Aster Capital Alven HTGF

Nexthinknexthink.com

Nexthink is a software company that provides IT departments with real-time analytics, automations, and employee feedback tools to improve digital workplace experiences.

Enterprise SoftwareFuture of WorkSaaS

Co-investorsAdelie Galdana Ventures Highland Europe Index Ventures VI Partners Permira +1 more

Pivotpivotapp.ai in

Pivot offers a source-to-pay (S2P) procurement platform that covers strategic sourcing, intake requests, approval and invoice validation workflows, vendor management, AP automation, global vendor payments, and spend analytics.

AI & Machine LearningEnterprise SoftwareFintechSaaSParis, FR

Marc-Antoine Lacroix(Founder)in

Co-investorsEmblem Notion Capital Visionaries Club

Scanditscandit.com in 𝕏Feb 2022

Scandit builds Smart Data Capture software that turns smartphones, handheld computers, fixed cameras, and drones into barcode and data scanning devices, integrated into business workflows.

AI & Machine LearningEnterprise SoftwareRetail TechSaaSZurich, CH

Samuel Mueller(Founder & CEO)in Christian Floerkemeier(Founder)in Christof Roduner(Founder)in

Co-investorsWarburg Pincus Bootstrap Europe G2 Venture Partners NGP Capital SE Ventures Sony Ventures Corporation +7 more

Veritiveriti.ai inacquired by Check Point

AI & Machine LearningCybersecurityEnterprise Software

Adi Ikan(Founder)in

Co-investorsAmiti Ventures NFX toDay Ventures AMITI Insight Partners

Zenjobzenjob.com in

Zenjob is a staffing service that connects companies with student temporary workers through an online booking platform and a mobile app, using AI-based matching to fill shifts and handle payroll and contracts.

Future of WorkHR TechMarketplaces

Cihan AksakalinFrederik Fahning(Founder)in Fritz Trott in

Co-investors500 Global Acton Capital Atlantic Atlantic Labs Isomer Capital redalpine

Other

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

ConvelioMantaMobeewaveStratiovCitaWasabi

Exits · 2

2 acquisitions

Mobeewaveacq. by Apple Inc.Veritiacq. by Check Point

Portfolio news

latest coverage across their companies

Baidu Sinks 13% as Soft Results Put AI Pivot to the Test: How Alibaba and Chinese Tech Stocks Compare

Pivot · finance.yahoo.com · Aug 18, 2026

Small events that win major donors — Chronicle of Philanthropy

Events · philanthropy.com · Aug 3, 2026

The Complete July 2026 Startup Funding Roundup: Every Major Deal From AI to Deep Tech

Nexthink · todaysstartupnews.com · Aug 1, 2026

Top 5 Companies Likely to Transact (July 28, 2026)

Datavations · dakota.com · Jul 28, 2026

Luminance unveils customer advisory board - The Global Legal Post

Luminance · globallegalpost.com · Jul 10, 2026

Dublin’s AI TaxTech startup Fonoa raises €94.4 million Series C and buys PwC’s tax platform | EU-Startups

Fonoa · eu-startups.com · May 29, 2026

Kandou AI Raises $225M in Series A Funding- EE Times

Kandou · eetimes.com · Apr 7, 2026

Zenjob Secures $50M Series | Signalbase

Zenjob · trysignalbase.com · Mar 23, 2026

Frequently asked questions

How many investments has Forestay Capital made?: Forestay Capital has 27 tracked investments, 2 of which have exited, including 4 dated in the last 24 months.
What stage does Forestay Capital invest at?: Forestay Capital invests at the Series A, Series B, Series C, Growth stages.
What is Forestay Capital's typical check size?: Forestay Capital typically writes checks of $10M – $20M.
What sectors does Forestay Capital focus on?: Forestay Capital focuses on AI & Machine Learning, Data & Infrastructure, Enterprise Software, SaaS.
Where is Forestay Capital located?: Forestay Capital is headquartered in London, GB.
Does Forestay Capital lead rounds?: Yes, Forestay Capital leads investment rounds.
Who does Forestay Capital co-invest with?: Forestay Capital most often shares deals with Acton Capital, Anais Ventures, Index Ventures, among 48 tracked co-investors.

Images

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