Where is ICG's headquarters located?

ICG's headquarters is located in London (United Kingdom).

How big is ICG's investment team?

ICG has a team of 61, including 31 partners.

How many companies has ICG invested in?

ICG has invested in 41 companies, including Visma & Grey Wolf Therapeutics.

Which companies has ICG invested in lately?

Mediar Therapeutics & Wugen are the latest investments by ICG.

What sectors does ICG focus on for investments?

Top sectors in ICG's portfolio are Enterprise Applications (7 investments) and Life Sciences (6 investments).

How many exits has ICG been involved in?

ICG's portfolio has seen 13 acquisitions.

How many unicorns are there in ICG's portfolio?

There is 1 unicorn in ICG's portfolio.

ICG - 2026 Investor Profile, Portfolio, Team & Investment Trends

ICG, established in 1989, is a private debt fund primarily based in London, United Kingdom. It specializes in financing Seed round of companies based in United Kingdom. Its portfolio includes 41 firms, spanning the Enterprise Applications, Life Sciences sectors.

As of Sep 2026, ICG has 1 unicorn under its belt and has witnessed 13 portfolio exits so far. Its most notable investments include companies like Visma, Grey Wolf Therapeutics and Direct Ferries.

Its latest investment was a $76M Series B round in Mediar Therapeutics on Dec 10, 2025 along with Amplitude.

Key Metrics

Founded Year

1989

Location

London, United Kingdom

Portfolio Companies

Visma, Grey Wolf Therapeutics & 39 more

Sectors of Investment

Enterprise Applications, Life Sciences & 19 more

Stages of Investment

Seed, PE & 7 more

Locations of Investment

United Kingdom, United States & 12 more

Unicorn in Portfolio

Workhuman

View ICG's full profile

ICG has a portfolio of 41 companies, one of which is a Unicorn. Their most notable investments are in Workhuman and Grey Wolf Therapeutics.Their portfolio spans across United Kingdom, United States, France and 11 more locations. They have invested in Enterprise Applications, Life Sciences, High Tech and 18 other sectors, across stages such as Seed, PE and 7 more. Here is the list of top investments by ICG:

1. Visma

Developer of cloud software for business management and accounting tasks. These applications facilitate financial administration, resource planning, and digital documentation for various organizations. The software suites assist with invoicing, electronic signatures, and operational workflows. These tools support administrative processes for small businesses, medium enterprises, and public sector entities.

Key facts about Visma

Founded Year: 1996
Location: Oslo (Norway)
Last Known Valuation: $*****
Stage: Acquired
Employee Count: 6,012 as on Aug 31, 2026
Investors: GIC, AP6 and 27 Others
Latest Funding Round: Unattributed, Sep 09, 2021, $*****
Highlight: Acquired

2. Grey Wolf Therapeutics

Developer of small molecule-based therapeutics for cancer treatment. The company has developed drugs targeting a key protein in the antigen presentation pathway to allow modulation of the neoantigen repertoire on tumor cells and illuminates non-responsive tumors for destruction, thus helping in the treatment.

Key facts about Grey Wolf Therapeutics

Founded Year: 2017
Location: Oxford (United Kingdom)
Stage: Series B
Total Funding till date: $113M
Employee Count: 57 as on Aug 31, 2026
Investors: Earlybird, Canaan and 8 Others
Latest Funding Round: Series B, May 23, 2024, $*****
Highlight: Editors' Pick

3. Direct Ferries

Online platform for booking ferry passages worldwide. It enables travellers to compare schedules, routes, and fares, and to reserve ferry tickets across various operators and destinations. The platform supports multi-leg journeys, vehicle crossings, and offers various payment and booking options for users.

Key facts about Direct Ferries

Founded Year: 1999
Location: London (United Kingdom)
Stage: Acquired
Employee Count: 116 as on Aug 31, 2026
Investors: Beauport, ICG and 1 Other
Latest Funding Round: PE, Jun 12, 2023, $*****
Highlight: Acquired

4. F2g

Developer of therapeutic treatments for rare and life threatening infections. Research focuses on identifying and creating pharmaceutical compounds to address fungal pathogens. These medical products aim to provide treatment options for patients affected by serious fungal conditions.

Key facts about F2g

Founded Year: 1998
Location: Manchester (United Kingdom)
Annual Revenue: £50M - £100M as on Dec 31, 2022
Valuation: $*****
Stage: Series H
Total Funding till date: $353M
Employee Count: 105 as on Aug 31, 2026
Investors: Advent Life Sciences, Sectoral and 21 Others
Latest Funding Round: Series H, Sep 12, 2024, $*****
Highlight: Editors' Pick

5. Ampin Energy Transition

Provider of renewable energy solutions. It offers solar, wind, storage, and hybrid solutions. It provides complete solutions for utility customers. The company enables energy transition through energy trading, solar manufacturing, green hydrogen, and energy storage. It maintains high ESG and corporate governance standards.

Key facts about Ampin Energy Transition

Founded Year: 2016
Location: Delhi (India)
Annual Revenue: ₹500 - ₹1,000 Cr as on Mar 31, 2025
Valuation: $*****
Stage: Series D
Total Funding till date: $448M
Employee Count: 492 as on Aug 31, 2026
Investors: LGT Group, Lightrock and 13 Others
Latest Funding Round: Conventional Debt, Dec 04, 2025, $*****

View the full list of portfolio companies

ICG has invested in 89 companies over the last 16 years, with an average of 3 new investments annually in the last 10 years. In 2025, it made 2 investments. Its most recent first time investment was in Mediar Therapeutics and most recent follow-on round was in Wugen.

Here are ICG's Year-on-Year Investment Trends:

Year	No. of Investments
Year	1^st Round	Follow-on	Total
2026 (YTD)	0	0	0
2025	1	1	2
2024	8	0	8
2023	7	1	8
2022	4	0	4
2021	6	1	7
2020	4	0	4
2019	0	0	0
2018	0	0	0
2017	1	0	1

View all investments by ICG

ICG has made 8 investments in Seed stage with an average round size of $2.1M, 7 investments in PE stage with an average round size of $225M and 5 investments in Series B stage with an average round size of $57.5M.

Here are ICG's investments by stage:

Stage of entry	No. of Investments
Seed	8
PE	7
Series B	5
Series D	4
Unattributed	4
Others	7

Note: We have considered here, only first round of investments

View all investments by ICG

ICG has a diverse portfolio, with companies operating in the Enterprise Applications, Life Sciences, Business Services, Energy and Environment. Notably, it has invested in 17 Enterprise (B2B) companies, 14 Tech companies, 7 Software companies and at least 4 companies focusing on Consumer (B2C).

Here are ICG's investments by sector:

Sector	No. of Investments
Enterprise Applications	7
Life Sciences	6
Business Services	5
Energy	4
Environment	3
Others	29

Note: We have considered here, only first round of investments

View all investments by ICG

ICG has made most investments in United Kingdom (10), followed by United States where it has made 7 investments.

Here are ICG's investments by geography:

Country	No. of Investments
United Kingdom	10
United States	7
France	4
Norway	2
South Korea	2
Others	9

Note: We have considered here, only first round of investments

View all investments by ICG

ICG has not made any investment in 2026 so far.

Here are the most recent investments by ICG:

Filter this list

Date	Company	Location	Round Details	Round Amount	Co-Investors
Dec 10, 2025	Mediar Therapeutics	United States	Series B	8768	Amplitude
Aug 22, 2025	Wugen	United States	Series C	3724	Fidelity Investments [+6]
Dec 05, 2024	Lomond	United Kingdom	Seed	9888	-
Sep 12, 2024	F2g	United Kingdom	Series H	8978	AMR Action Fund [+8]
Jun 20, 2024	Granlund	Finland	PE	6447	-

See more recent investments made by ICG

ICG has 1 unicorn in its portfolio - Workhuman. The most recent unicorn in their portfolio is Workhuman which became a unicorn in 2020.

Here is a list of unicorns in ICG's portfolio:

Filter this list

Tracxn Score	Company	Short Description	Founded year	Sector	Location	Company Stage	First Investment/ Acquisition Details
58	Workhuman	Provider of a platform for employee recognition and performance management	1999	Enterprise Applications	Dublin	Late Stage	fbjynx{

View more details about unicorns in ICG's portfolio

13 companies from ICG's portfolio have been acquired. The most recent acquisition was Amolyt Pharma in Mar 2024 by AstraZeneca for $*****.

Here are ICG's portfolio companies that got acquired most recently:

Filter this list

Company	Acquisition Date	First Invested on	First Round of Investment	Round Size
Amolyt Pharma	Mar 14, 2024	Jan 06, 2023	Series C	2918
6point6	Oct 31, 2023	May 04, 2021	Seed	4426
Prefere Resins	Apr 11, 2022	-	-	5948
CPA Global	Oct 02, 2020	Feb 02, 2010	PE	5776
Loparex	Aug 05, 2019	Mar 30, 2015	Series A	3110

View all acquired companies in ICG's portfolio

ICG has a team of 61 members including 31 Partners and 5 Principals located in United Kingdom, United States and 7 more locations.

Here is a list of top team members in ICG:

Name	Designation	Location	Contact Details
Peter Kirtley	Partner	United Kingdom	-
Mark Piasecki	Partner	London	-
Robin Molvin	Partner	Sweden	-
Bruno Amaral	Partner	France	-
Rosemary Leith	Partner	United Kingdom	-
Brian Spenner	Partner	New York	-
Chris Nichols	Partner	London	-
Jeffrey Rabel	Partner	United States	-
Wooseok Jun	Partner	Hong Kong	-
William Rucker	Partner	London	-
Patricia Wilkinson	Partner	United Kingdom	-

View team details of ICG

Over the past 16 years, 143 investors have co-invested in ICG's portfolio companies. This includes funds and angels.

Invested before ICG: Europa, Pfizer and 56 others have invested in rounds before ICG. There are 2 companies where Europa has invested before ICG and 2 companies where Pfizer has invested before ICG.
Top Co-investors of ICG: 50 investors entered a company along with ICG. These include investors like ICG Enterprise Trust (2 companies).
Invested after ICG: A total of 35 investors have invested in ICG's portfolio after their investments. Top Investors include Norges Bank Investment Management (1 company) and Aeternum Capital (1 company).