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REAL ECONOMY  ·  SPECIALIST  ·  B2B & B2B2C

The Specialist in the Real Economy

We grow manufacturing-led B2B and B2B2C businesses behind Europe's everyday essentials — combining resilient demand, structural growth and AI-enabled transformation

PORTFOLIO
€1 Billion +
Under Management across 4 funds
Western Europe
Core Geographic focus
15+ Nationalities
30+ Professionals Speaking 15+ Languages
€30–€60m
Equity ticket size, or higher with co-investors
WHERE WE INVEST

Six Real Economy Niches

Non-discretionary consumer categories with resilient, repeat demand, where we have the strongest network

Health & Wellbeing

Food & Beverage

Home Care

Pet Care

Baby Care

Beauty & Personal Care

INVESTMENT CRITERIA 
THE BLUEGEM PLAYBOOK

Why We Back B2B and B2B2C

Our edge is where we sit in the value chain. We buy the businesses that make the product and own the R&D, formulation and manufacturing, because that is the most defensible part of the chain, with the deepest moats and the real pricing power. It is what separates a durable B2B/B2B2C model from the volatility of a pure consumer approach.

B2B
The upstream edge

B2B

  • ✓Product-led, not brand-led
  • ✓High barriers to entry
  • ✓Ability to respond to changing trends
B2B2C
Where insight compounds

B2B2C

  • ✓Loyal and sophisticated customer base
  • ✓Multi-channel distribution
  • ✓Products tailored to diverse global consumer needs

B2B and B2B2C positioning supports higher-quality earnings, through recurring revenues, higher switching costs and more resilient margins.

VALUE ADD 
THE PEOPLE

30+ professionals, 15+ nationalities, four offices and a network of specialist partners

Experienced investors combined with a network of industry experts for each subsector

MEET OUR TEAM 
HOW WE CREATE VALUE

From Local Companies to Leading Global Platforms

01

Originate

It starts with the consumer. We read end-demand signals to find manufacturing-led niches and good businesses with fixable imperfections.
02

Build

The whole team steps in, from our investment team and PMOs to our embedded digital & AI specialists, to set the value-creation plan and professionalise the business.
03

Transform

One playbook, applied together: digital & AI integration, internationalisation, product innovation and buy-and-build, capturing value higher in the chain.
04

Realise

A stronger, pan-European category leader with a data-backed growth story, robust operating platform, demonstrable results, and a repeatable model.
BeautyNova Case Study 
SUSTAINABILITY

Our Commitment

A focus on Environmental, Social, and Governance factors is in our DNA. We believe in the principle that global challenges are universal responsibilities.

SUSTAINABILITY

Our News

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