Frog Capital

Mike Reid is a senior partner and the person who launched Frog Capital. He spent 13 years at 3i covering everything from startup investing to mature buyouts, and before that led an internal venture inside the UK's largest formerly state-owned gas company that divested more than $1 billion of property. He also drove the firm's pivot toward companies with a net positive social impact.

Steven Dunne is the other senior partner, and Sonia Powar chairs the investment committee. The distinguishing feature of the roster is how much of it is operational: James Bagan, Andrew Betteley, Susannah Nicklin, Amanda Stainton and John Sutherland all carry operating partner titles and sit behind the firm's Scale-Up Methodology, a published framework of toolkits organised around execution, planning and sustainability. The team page lists nine people in total, making Frog a small, operator-weighted shop rather than a large investment bench.

Frog Capital Limited was incorporated in London on 6 February 2009 under company number 06812490, is still listed as active, and registers under SIC code 64303 for venture and development capital activities. It is authorised and regulated by the Financial Conduct Authority under firm reference number 509967 and operates from Douglas House, 131 Great Titchfield Street in central London.

The firm does not publish fund names or fund sizes, and it has no Form D filings with the SEC, meaning its vehicles have not been marketed into the United States under Regulation D; a full-text search for the name returns only an unrelated Texas partnership. What is documented is deployment rather than fundraising. Frog describes itself as a growth investor in European software scale-ups and now brands the strategy Positive Growth Equity, concentrating on companies with a measurable social benefit. The current book holds Oxford Medical Simulation, Modulr, Caspar, Clue Software, Winningtemp, Genasys, Vulog and Housfy. Realised positions include Evotix, acquired by SAI360, plus Sofatutor, Azimo, Sellics, McMakler, Opensignal, Skimlinks and Dealflo.