Frog Capital
Growth equityLondon · Series B–Late Stage · 10 people tracked
Investment thesis
Frog Capital invests in purpose-led technology scale-ups, primarily software businesses entering the scale-up phase. The firm emphasizes helping companies grow their product, organisation and culture while staying true to their founding purpose and values — an approach it calls 'scaling with purpose.' Frog has codified this into a Scale-Up Methodology, a framework built on experience from over a hundred scale-up journeys and supported by a team of Operating Partners including former tech entrepreneurs, engineers, executives and VC veterans. It offers extensive resources such as toolkits, podcasts, articles and videos in its 'How to Scale' library.
Source: firm website, verified Aug 3, 2026.
Team · 10 people
from the firm's website & curatedWhat they invest in
from 11 of 21 portfolio companiesSaaS ×5Enterprise Software ×4AI & Machine Learning ×3Fintech ×3Data & Infrastructure ×2Digital Health ×2Marketplaces ×2PropTech ×2
HQs:United Kingdom×3Germany×1Spain×1France×1Sweden×1United States×1
Investments · 21 tracked
founders shown can be your intro pathBy year:2024 · 12018 · 12 dated
Azimo provides cross-border payment infrastructure supporting multi-currency payments to workers and local authorities on local rails under top-tier regulatory frameworks.
Fintech
Co-investorsCraigie CapitalGR CapitalRippleTempoCapGreycroft PartnersQuona Capital+1 more
Clue is a menstrual and reproductive health app that lets people track their periods, cycle, ovulation, fertility, and related symptoms, and contributes anonymized data to scientific research with institutions such as Johns Hopkins and the Gates Foundation.
ConsumerDigital HealthFemTechWellness & FitnessBerlin, DE
Ida Tin(Co-founder & former CEO)Hans Raffauf(Co-founder)Moritz von Buttlar(Co-founder)Mike LaVigne(Co-founder)Rhiannon White(CEO)Greg Ryzhov(CTO)
Co-investorsBalderton CapitalFuture Positive CapitalMolten VenturesMosaic VenturesNGP CapitalTeampact.ventures+3 more
OneSpan provides electronic signature and digital agreement software for enterprises, supporting document signing, identity verification, and workflow integrations with CRM, HRIS, and productivity tools.
CybersecurityEnterprise SoftwareSaaS
Co-investorsNotion CapitalHoltzbrinck Ventures
Housfy is a Spanish platform offering real estate and home services — property sales, residential rentals, mortgage brokering, and home services such as renovations and moves — through a single digital platform (My Housfy) supported by local offices.
FintechMarketplacesPropTechBarcelona, ES
Jordi Cidin
Co-investorsCathay InnovationDN CapitalTorch CapitalBanco SantanderClaret Capital Partnersnoa
Modulr provides an embedded payments platform that lets businesses automate and manage payment flows, integrating deeply into the payments ecosystem across Europe.
Cloud ComputingEnterprise SoftwareFintechSaaSLondon, GB
Co-investorsGeneral AtlanticHighland Europe
Opensignal provides independent analytics on mobile network experience and market performance, measuring real-world user experiences such as web browsing, video streaming, and online gaming.
Data & InfrastructureEnterprise SoftwareSaaSLondon, US
Sina Khanifar(Executive Officer)inJames Robinson(Director)inBrendan Gill(Executive Officer, Director)inMalcolm Ferguson(Director)Mark Jacobsen(Director)
BoardJason Ball(Director)
Co-investorsQualcomm VenturesSilversmith Capital Partners
Oxford Medical Simulation (OMS) provides immersive VR and AI-based clinical training scenarios for healthcare professionals and learners.
AI & Machine LearningDigital HealthEdTechHealthtech
Co-investorsOxford Investment Opportunity Network (OION)
Rated People is the UK's largest online marketplace connecting homeowners with local tradespeople across 30+ trades.
Construction TechMarketplacesPropTechLondon, GB
Co-investorsChannel 4 Ventures
Skimlinks provides automated affiliate technology that monetizes product links for publishers and content creators, enabling them to earn commissions from commerce-related content across channels including articles, social, and newsletters.
AdTechB2B MarketplacesData & InfrastructureMarketing Tech
Alicia Navarro(Founder)inJoe Stepniewskiin
Co-investors500 GlobalGreycroftSussex Place VenturesGreycroft Partners
Vulog provides technology solutions that power shared mobility services, including carsharing, digital vehicle rental, subscriptions, micromobility, and corporate fleet mobility.
AI & Machine LearningIoTMobility & TransportationSaaSLyon, FR
Co-investorsInven Capital
This page is a case study of Alfa Laval's use of Winningtemp, an employee engagement and feedback platform.
AI & Machine LearningEnterprise SoftwareHR TechSaaSGothenburg, SE
Co-investorsBonnier CapitalChalmers Ventures ABNorrsken VC
Exits · 1
IPOs and acquisitions across the tracked portfolioDealfloacq. by Onespan
Portfolio news
latest coverage across their companiesClue · word.tips · Jul 29, 2026
Opensignal · hardwarezone.com.sg · Jul 28, 2026
Azimo · saveonsend.com · Jun 27, 2026
Principals & officers · per Companies House
what is this? ⓘDirector · British · since 2015
Director · British · since 2009
Steven Michael Dunne — 25–50% of shares
Robert Michael Reid — 25–50% of shares
Frequently asked questions
- How many investments has Frog Capital made?
- Frog Capital has 17 tracked investments, 1 of which have exited via acquisition or IPO.
- What stage does Frog Capital invest at?
- Frog Capital invests at the Series B, Series C, Growth, Late Stage stages.
- What sectors does Frog Capital focus on?
- Frog Capital focuses on Data & Infrastructure, E-commerce, Enterprise Software, SaaS.
- Where is Frog Capital located?
- Frog Capital is headquartered in London, GB.
- Who does Frog Capital co-invest with?
- Frog Capital most often shares deals with General Atlantic, Greycroft, Highland Europe, among 13 tracked co-investors.
Media · Podcasts & interviews
featuring the teamFireside Chat: Alicia Navarro, Skimlinks & Mike Reid, Frog Capital - NOAH17 London
NOAHConference · Mike Reid
Mike Reid - Frog Capital
Capital On Stage · Mike Reid
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