Private Equity 3 Days

Last updated: May 25, 2026, 5:30 AM ET

Policy & Strategy

The private equity industry faced mounting pressure to align with national strategic goals, as UK shadow business minister Gareth Davies urged deeper state collaboration to build a "better society," while a Sifted analysis warned against conflating sovereignty with corporate welfare. This policy backdrop coincides with heightened investor focus on AI infrastructure, where some startups are stretching ARR metrics to amplify perceived traction, a practice fully known to their venture backers. Meanwhile, Europe's most active legaltech investors targeted contract automation and regulatory compliance tools, reflecting a broader push into tech-enabled efficiency plays.

Sector Trends & Funding

A Crunchbase report highlighted a $500M surge in medical device funding, led by AI surgical robotics and wearable health monitors, while Oura filed for a NYSE IPO targeting a $2.5 billion valuation after its smart ring gained traction with corporate wellness programs. In consumer health, Avista and family office Damier agreed to buy Sanotact for approximately €300 million, adding a Belgian vitamins platform to their portfolio. Parallel deals in pain management saw Charterhouse, Iron Path, and Revelar compete for regional platforms, while a Charlesbank-led merger created a €150M orthopedics group from two Nordic medtech manufacturers.

Deal Execution & Secondary Activity

In the secondary market, Frontenac engaged MCE's sale process with Churchill Asset and 50 South Capital retaining a stake in the industrial services company, signaling renewed activity for mature PE assets. The flurry of healthcare deals underscores a defensive sector rotation, with pain management platforms attracting multiple bidders due to recurring revenue streams and demographic tailwinds. These transactions are being structured with careful attention to valuation discipline, contrasting with earlier-stage AI ventures where ARR inflation is more prevalent.

Venture Spotlight

Irish startups drew VC attention in fintech, climate tech, and AI-assisted software development, with several nearing Series A rounds. Among them, Berlin's Peec grew ARR to $10M by helping brands track visibility in AI-driven search, validating the commercial model for "AI search optimization." This trend of monetizing the AI infrastructure stack is drawing crossover investment from traditional growth equity, even as some VCs privately question the sustainability of ARR-based valuations in the sector.