How we grow
a business alongside
the people who built it.
A simple, disciplined approach: back good businesses, with good people, in good markets, then partner to create value over time.
Our investment discipline.
Three things have to line up before we invest: a good business, good people, and a good market. When they do, we back it and stay involved for the years that follow.
Good business
Quality earnings, a defensible position, and a proposition we can help make more valuable over time.
Good people
Founders and management we believe in. People we want to back, who want a genuine partner.
Good markets
Structurally attractive markets with room to grow, where scale and support compound the advantage.
The approach, in numbers.
inception, gross of fees
Where we focus.
Four key sector themes, where we seek strong opportunities overlooked by others.
Health
Specialist clinics, pharmacy and care, and consumer products and services that enhance health.
Technology
Businesses that assist with the digitisation of the economy, including technology and technology-enabled services.
Food and Beverage
Trusted brands and premium producers, serving long-run consumer demand.
Industrials and infrastructure services
The products and services supporting infrastructure and industrial application, including the energy transition.
How we structure a partnership.
Majority or minority
We are comfortable with majority or minority shareholding positions, with equity shares ranging from 40% up to 95%, and alongside management a collective position of up to 100%. We give our investee companies the freedom they need to operate effectively.
Growth, not leverage
The returns we generate are derived primarily through growth, not leverage. We selectively use debt where appropriate, matched to the stage and growth profile of the business.
$10m to $60m of capital
Into profitable Australian and New Zealand businesses, generally between $10m and $200m in enterprise value, with track records of growth and demonstrated competitive advantage.
A path, not a transaction.
The process is built around understanding your business and earning trust, long before any paperwork.
Conversation
A confidential, no-obligation discussion about you, the business and your ambitions.
Understanding
We get to know the people, the numbers and the market, properly.
Partnership terms
A structure that aligns all partners.
Value creation
We invest, then work alongside you to grow and protect the business.
Realisation
We seek to maximise long-term value, together.
Support that makes the business more valuable.
We are not operators of businesses. We support the industry leading team who operates it, with a focus on driving long-term value. That includes participating in decisions on people, strategy, governance and networks, applied where they matter most.
See it in the portfolio →Responsible investment.
Fortitude is a signatory to the United Nations Principles for Responsible Investment. Environmental, social and governance factors are assessed as part of investment risk and value, not alongside it, and our PRI reporting commits us to setting out publicly how that works.
Screened at origination
We do not invest in businesses whose primary activity is tobacco, controversial weapons, gambling or predatory lending.
Assessed in diligence
Every transaction carries an ESG assessment covering workplace health and safety, employment and labour practices, environmental exposure and compliance, data and privacy, modern slavery risk in the supply chain, and the integrity of the people we are backing.
Governed in ownership
ESG matters sit on the board agenda of our investee companies, not in a separate report. Where diligence identifies a gap, remediation is agreed as part of the investment plan and tracked through normal governance.
Reported annually
We report to the PRI each year and to our investors on the ESG position of the portfolio. Our responsible investment policy is available on request.
Thinking about a partner for the next chapter?
Whether you are seeking additional capital, assistance with leadership succession, governance or acquisitions, or preparedness for an eventual exit, if we may be a fit for your business we would love to have a conversation.