[
 {
  "id": "dwelly",
  "name": "Dwelly",
  "type": "platform",
  "hq_city": "London",
  "country": "United Kingdom",
  "sector": "Residential lettings and property management",
  "model": "software-first",
  "first_deal_year": null,
  "acquisitions_count": null,
  "acquisitions_as_of": null,
  "capital_raised_eur_m": 151.9,
  "capital_note": "USD 170m Series B: USD 95m equity led by EQT Growth and a USD 75m debt facility from Trinity Capital; converted at the ECB euro reference rate of 23 Oct 2026 (1 EUR = 1.1193 USD; ecb.europa.eu). Source states more than USD 260m raised in under a year including the February 2026 Series A.",
  "ai_layer": "Acquired independent letting agencies run on Dwelly's shared AI operating platform",
  "operating_evidence": "Agents handle upwards of 300 units vs roughly 100 for a traditional manager (company-reported, per source)",
  "investors": "EQT Growth (equity lead); General Catalyst; s16vc; Begin Capital; DVC; Trinity Capital (debt)",
  "status": "verified",
  "source_url": "https://thenextweb.com/news/dwelly-raises-170m-to-turn-uk-lettings-agencies-into-software",
  "source_name": "The Next Web",
  "source_date": "2026-07-28",
  "last_verified": "2026-10-24",
  "notes": "More than 15,000 properties under management (TNW); the same figure is reported by Letting Agent Today (2026-07-28, https://www.lettingagenttoday.co.uk/breaking-news/2026/07/group-raises-125m-to-buy-lettings-agencies-and-develop-ai/) and Property Industry Eye (2026-09-01, https://propertyindustryeye.com/fast-growing-estate-agency-completes-tenth-acquisition-of-2026/), which reports Dwelly's tenth acquisition of 2026. No primary source states a cumulative acquisition count, so the field is left empty. Fortune (2026-02-25, https://fortune.com/2026/02/25/dwelly-ai-roll-up-uk-lettings-agencies-real-estate-brokerages-93-million-new-venture-captial-funding-to-fuel-expansion) reported 10 agencies at the time of the Series A."
 },
 {
  "id": "buena",
  "name": "Buena",
  "type": "platform",
  "hq_city": "Berlin",
  "country": "Germany",
  "sector": "Residential property management",
  "model": "software-first",
  "first_deal_year": 2023,
  "acquisitions_count": 20,
  "acquisitions_as_of": "2025-07-23",
  "capital_raised_eur_m": 51.8,
  "capital_note": "USD 58m total funding including the Series A led by GV; converted at the ECB euro reference rate of 23 Oct 2026 (1 EUR = 1.1193 USD; ecb.europa.eu).",
  "ai_layer": "Own AI property management software that automates accounting and annual financial reporting for acquired property managers",
  "operating_evidence": null,
  "investors": "GV (Series A lead); 20VC; Stride; Capnamic",
  "status": "verified",
  "source_url": "https://tech.eu/2025/07/23/gv-and-20vc-back-buenas-vision-to-reinvent-property-management-through-ai-powered-rollups-with-58m-investment/",
  "source_name": "Tech.eu",
  "source_date": "2025-07-23",
  "last_verified": "2026-10-24",
  "notes": "Source states 20+ property management firms acquired since 2023 and 60,000+ apartments under management. Same figures in Startbase (2025-07-23, https://www.startbase.com/news/buena-sichert-sich-534-mio-euro/) and Silicon Canals (2025-07-23). Investmentweek (2026-02-21, https://www.investmentweek.com/milliarden-beben-am-mittelstand-die-gnadenlose-ki-jagd-der-us-investoren-auf-deutsche-traditionsfirmen/) reports more than 25 property managers acquired."
 },
 {
  "id": "arbio",
  "name": "Arbio",
  "type": "platform",
  "hq_city": "Berlin",
  "country": "Germany",
  "sector": "Short-term rental property management",
  "model": "software-first",
  "first_deal_year": null,
  "acquisitions_count": 30,
  "acquisitions_as_of": "2025-10-14",
  "capital_raised_eur_m": 32.2,
  "capital_note": "USD 36m Series A led by Eurazeo; total funding more than USD 45m; converted at the ECB euro reference rate of 23 Oct 2026 (1 EUR = 1.1193 USD; ecb.europa.eu).",
  "ai_layer": "AI-native operating system for distribution, accounting, operations, guest communications and dynamic pricing",
  "operating_evidence": null,
  "investors": "Eurazeo (lead); OpenOcean; Atlantic Labs",
  "status": "verified",
  "source_url": "https://tech.eu/2025/10/14/arbio-raises-36m-series-a-to-redefine-property-management/",
  "source_name": "Tech.eu",
  "source_date": "2025-10-14",
  "last_verified": "2026-10-24",
  "notes": "Source states 30+ acquisitions through a dedicated M&A team and 1,000+ units under management. Same figures in ShortTermRentalz (2025-10-15, https://shorttermrentalz.com/news/arbio-raises-36m-series-a-to-build-ai-native-rental-platform/), which names Germany and Austria. The company website (https://arbio.com/en/about-arbio, accessed 2026-10-24, undated) states 50+ strategic acquisitions and 2,000+ apartments."
 },
 {
  "id": "integral",
  "name": "Integral",
  "type": "platform",
  "hq_city": "Berlin",
  "country": "Germany",
  "sector": "SME accounting, tax and payroll",
  "model": "build",
  "first_deal_year": 2025,
  "acquisitions_count": 1,
  "acquisitions_as_of": "2025-11-19",
  "capital_raised_eur_m": 18,
  "capital_note": "EUR 18m Series A co-led by Mosaic Ventures and Reid Hoffman; total funding more than EUR 30m.",
  "ai_layer": "AI agents for bookkeeping, tax and payroll; licensed professionals at the affiliated firm Integral Tax review and sign off",
  "operating_evidence": "AI agents prepare bookkeeping end-to-end for more than half of clients; monthly accounting turnaround from weeks to hours (company statements, per source)",
  "investors": "Mosaic Ventures; Reid Hoffman; Cherry Ventures; General Catalyst; Puzzle Ventures",
  "status": "verified",
  "source_url": "https://tech.eu/2026/09/16/integral-lands-eur18m-series-a-for-ai-native-accounting-and-tax-services/",
  "source_name": "Tech.eu",
  "source_date": "2026-09-16",
  "last_verified": "2026-10-24",
  "notes": "Round confirmed by FinTech Global (2026-09-16, https://fintech.global/2026/09/16/integral-raises-e18m-series-a-led-by-mosaic-hoffman/). Acquisition count and first deal year from Tech.eu (2025-11-19, https://tech.eu/2025/11/19/integral-acquires-cleverlohn-and-secures-funding-to-advance-its-ai-accounting-and-payroll-platform/): acquisition of the payroll provider cleverlohn."
 },
 {
  "id": "taxforce",
  "name": "Taxforce",
  "type": "platform",
  "hq_city": "Berlin",
  "country": "Germany",
  "sector": "Tax advisory for medical professionals",
  "model": "build",
  "first_deal_year": null,
  "acquisitions_count": null,
  "acquisitions_as_of": null,
  "capital_raised_eur_m": 5,
  "capital_note": "EUR 5m seed round led by Tenet.",
  "ai_layer": "AI-native tax advisory firm combining AI automation with tax expertise, starting with doctors and medical practices",
  "operating_evidence": "Over 70% less time on routine bookkeeping (company statement)",
  "investors": "Tenet (lead)",
  "status": "verified",
  "source_url": "https://www.taxforce.ai/blog/taxforce-raises-5m-ai-native-tax-advisory-medical-space",
  "source_name": "Taxforce (company press release)",
  "source_date": "2026-02-18",
  "last_verified": "2026-10-24",
  "notes": "EUR 5m from Tenet also reported by Tech.eu (2026-02-18, https://tech.eu/2026/02/18/berlin-based-eur80m-ai-roll-up-investment-firm-launches/) and Invest in Berlin (2026-02-19). No acquisition announced in the sources as of 2026-10-24; first investment of the AI roll-up investor Tenet."
 },
 {
  "id": "limetax",
  "name": "Limetax",
  "type": "platform",
  "hq_city": "Berlin",
  "country": "Germany",
  "sector": "Tax advisory and accounting",
  "model": "software-first",
  "first_deal_year": null,
  "acquisitions_count": 4,
  "acquisitions_as_of": "2026-09-10",
  "capital_raised_eur_m": 36,
  "capital_note": "EUR 36m package: EUR 6m pre-seed equity led by Motive Partners and a EUR 30m acquisition facility from a consortium of German lenders.",
  "ai_layer": "Agentic platform for tax and accounting practices that coordinates AI agents for bookkeeping, payroll and financial statement preparation",
  "operating_evidence": null,
  "investors": "Motive Partners (equity lead); Activant; Heliad; consortium of German lenders (debt)",
  "status": "verified",
  "source_url": "https://www.internationalaccountingbulletin.com/?p=50767",
  "source_name": "International Accounting Bulletin",
  "source_date": "2026-09-10",
  "last_verified": "2026-10-24",
  "notes": "Source states seven locations across four companies and about 150 employees. EUR 36m package (EUR 6m equity, EUR 30m credit facility) also reported by TheSaaSNews (2026-09-09, https://www.thesaasnews.com/news/limetax-raises-36m-pre-seed/), which gives Berlin as headquarters."
 },
 {
  "id": "tenet",
  "name": "Tenet",
  "type": "investor",
  "hq_city": "Berlin",
  "country": "Germany",
  "sector": "Professional services (accounting, IT, insurance)",
  "model": "software-first",
  "first_deal_year": 2026,
  "acquisitions_count": null,
  "acquisitions_as_of": null,
  "capital_raised_eur_m": null,
  "capital_note": "Debut fund target EUR 80m; around a third raised at launch; cheques of around EUR 5m per investment.",
  "ai_layer": "Backs inception-stage founders who consolidate professional services businesses and upgrade them with AI",
  "operating_evidence": null,
  "investors": null,
  "status": "verified",
  "source_url": "https://tech.eu/2026/02/18/berlin-based-eur80m-ai-roll-up-investment-firm-launches/",
  "source_name": "Tech.eu",
  "source_date": "2026-02-18",
  "last_verified": "2026-10-24",
  "notes": "First investment: EUR 5m in Taxforce. Fund target, share raised and cheque size also reported by Invest in Berlin (2026-02-19, https://www.invest-in.berlin/n/tenet-europes-first-ai-roll-up-investment-firm-is-here/). Model refers to the venture-backed platforms Tenet funds."
 },
 {
  "id": "generation-tech-partners",
  "name": "Generation Tech Partners",
  "type": "investor",
  "hq_city": "Hamburg",
  "country": "Germany",
  "sector": "B2B services in four core sectors",
  "model": "buyout-first",
  "first_deal_year": null,
  "acquisitions_count": null,
  "acquisitions_as_of": null,
  "capital_raised_eur_m": 60,
  "capital_note": "Fund 26; final close October 2026.",
  "ai_layer": "Group level for finance, IT and AI",
  "operating_evidence": null,
  "investors": null,
  "status": "gtp",
  "source_url": "https://generationtech.partners/presse",
  "source_name": "Generation Tech Partners (press page)",
  "source_date": "2026-06-10",
  "last_verified": "2026-10-24",
  "notes": "Majority acquisitions; platform plus add-ons. Own statement of Generation Tech Partners (status gtp); the press page announces the fund."
 },
 {
  "id": "circeus",
  "name": "Circeus",
  "type": "platform",
  "hq_city": "London",
  "country": "United Kingdom",
  "sector": "Vertical B2B software",
  "model": "buyout-first",
  "first_deal_year": null,
  "acquisitions_count": 18,
  "acquisitions_as_of": "2026-06-30",
  "capital_raised_eur_m": 196.6,
  "capital_note": "More than USD 220m total capital raised (lower bound), including more than USD 120m equity and a USD 100m-plus credit facility from i80 Group; converted at the ECB euro reference rate of 23 Oct 2026 (1 EUR = 1.1193 USD; ecb.europa.eu).",
  "ai_layer": "Central AI engineering function linked to every acquired software business; AI treated as the group operating system",
  "operating_evidence": null,
  "investors": "NFX; QED Investors; Nextalia; 645 Ventures; 3VC; Endeavor Catalyst; CDP Venture Capital; EBRD; i80 Group (credit)",
  "status": "verified",
  "source_url": "https://pulse2.com/circeus-announces-launch-and-new-equity-financing-from-ebrd/",
  "source_name": "Pulse 2.0",
  "source_date": "2026-06-30",
  "last_verified": "2026-10-24",
  "notes": "Holding brand of the group behind Shop Circle, launched June 2026; 18 acquisitions over the last four years; serves more than 200,000 businesses; offices in London, Milan and Sarajevo. Launch and EBRD equity also reported by Bernama (2026-06-29, https://www.bernama.com/en/press/news.php?id=2574456); 18 acquisitions and USD 220m+ capital also stated by L40 (https://www.l40.com/insights/ai-rollups)."
 },
 {
  "id": "lawhive",
  "name": "Lawhive",
  "type": "platform",
  "hq_city": "London",
  "country": "United Kingdom",
  "sector": "Consumer legal services",
  "model": "build",
  "first_deal_year": 2025,
  "acquisitions_count": 1,
  "acquisitions_as_of": "2025-09-11",
  "capital_raised_eur_m": 53.6,
  "capital_note": "USD 60m Series B led by Mitch Rales; converted at the ECB euro reference rate of 23 Oct 2026 (1 EUR = 1.1193 USD; ecb.europa.eu).",
  "ai_layer": "AI operating system for consumer law (document drafting, legal research, case management, client intake) with lawyer review",
  "operating_evidence": "About 500 lawyers work through the platform across three regulated firms; lawyers handle 80 to 200 clients at a time (per source)",
  "investors": "Mitch Rales (Series B lead); TQ Ventures; GV; Balderton Capital; Jigsaw",
  "status": "verified",
  "source_url": "https://fortune.com/2026/02/05/lawhive-ai-law-firm-startup-series-b-venture-funding",
  "source_name": "Fortune",
  "source_date": "2026-02-05",
  "last_verified": "2026-10-24",
  "notes": "Acquisition count and first deal year from Legal Cheek, which reports the acquisition of the UK firm Woodstock Legal Services (confirmed by Law Gazette, 2025-09-15). Source for the acquisition: Legal Cheek (2025-09-11, https://www.legalcheek.com/2025/09/google-backed-ai-platform-buys-law-firm-in-uk-legal-industry-first/). Founded as a London-based company (Silicon Canals, 2024-04-15); Fortune reports offices in Austin and a new headquarters opening in New York, with two of its three regulated firms in the UK."
 },
 {
  "id": "moin-group",
  "name": "MoIn Group (Modern Insurance Technology GmbH)",
  "type": "platform",
  "hq_city": "Cologne",
  "country": "Germany",
  "sector": "Insurance brokerage",
  "model": "buyout-first",
  "first_deal_year": null,
  "acquisitions_count": 2,
  "acquisitions_as_of": "2026-06-18",
  "capital_raised_eur_m": null,
  "capital_note": "No financing amount disclosed in source.",
  "ai_layer": "Shared technology platform with AI agents and automated workflows for acquired brokerages",
  "operating_evidence": null,
  "investors": null,
  "status": "reported",
  "source_url": "https://www.experten.de/id/4950391/",
  "source_name": "experten.de",
  "source_date": "2026-06-18",
  "last_verified": "2026-10-24",
  "notes": "Source names the acquired brokers Compari (Mellrichstadt) and Sünderwald Group (Chemnitz) and says further transactions are in preparation. A Deutsche Startups article (2026-09-03) on the same company could not be fetched (HTTP 403)."
 },
 {
  "id": "easytranslate",
  "name": "EasyTranslate",
  "type": "platform",
  "hq_city": "Copenhagen",
  "country": "Denmark",
  "sector": "Language services",
  "model": "software-first",
  "first_deal_year": 2024,
  "acquisitions_count": 2,
  "acquisitions_as_of": "2026-03-18",
  "capital_raised_eur_m": null,
  "capital_note": "No amount disclosed; financing partners named in source.",
  "ai_layer": "Proprietary HumanAI platform; acquired translation agencies are moved onto it",
  "operating_evidence": null,
  "investors": "Pride Capital Partners; Danske Bank Growth; EIFO",
  "status": "announced",
  "source_url": "https://easytranslate.com/blog/easytranslate-advances-nordic-ai-roll-up-with-second-danish-agency-acquisition",
  "source_name": "EasyTranslate (company press release)",
  "source_date": "2026-03-18",
  "last_verified": "2026-10-24",
  "notes": "Acquisitions: World Translation (September 2024) and Translated By Us (March 2026). Trade coverage by Slator and MultiLingual could not be fetched (HTTP 403)."
 },
 {
  "id": "ancora",
  "name": "Ancora",
  "type": "platform",
  "hq_city": "Milan",
  "country": "Italy",
  "sector": "Accounting and tax services for SMEs (commercialisti)",
  "model": "software-first",
  "first_deal_year": 2026,
  "acquisitions_count": 1,
  "acquisitions_as_of": "2026-09-28",
  "capital_raised_eur_m": null,
  "capital_note": "No financing amount disclosed in sources.",
  "ai_layer": "AI-native accounting and tax services company; acquired firms are integrated and run on a proprietary technology platform that automates repetitive work, with professional accountants at the centre",
  "operating_evidence": null,
  "investors": null,
  "status": "verified",
  "source_url": "https://www.economyup.it/startup/ancora-startup-studi-commercialisti/",
  "source_name": "EconomyUp",
  "source_date": "2026-10-07",
  "last_verified": "2026-10-24",
  "notes": "Founded in Milan in early 2026 by Andrea Chirolli (CEO), Andrea Abriani and Andrea Rusconi; the company says it started as a product company and builds shared technology on top of the firms it buys rather than selling software to them. First acquisition: Studio Eldas (Sesto San Giovanni), announced 2026-09-28, operating as Studio Eldas by Ancora. Same acquisition reported by AziendaBanca (2026-09-29, https://www.aziendabanca.it/notizie/fintech-insurtech/ancora-acquisisce-studio-eldas), which states more than 300 clients at Studio Eldas, about EUR 1m annualised recurring revenue after the deal and a team of 18 people."
 },
 {
  "id": "jutro-medical",
  "name": "Jutro Medical",
  "type": "platform",
  "hq_city": "Warsaw",
  "country": "Poland",
  "sector": "Primary care clinics",
  "model": "build",
  "first_deal_year": null,
  "acquisitions_count": null,
  "acquisitions_as_of": null,
  "capital_raised_eur_m": 36,
  "capital_note": "EUR 36m Series A in total after a EUR 24m extension led by Warsaw Equity Group (initial EUR 12m Series A in March 2025 led by KAYA VC and RIO ASI); the extension includes an undisclosed debt portion from mBank and Orbit Capital.",
  "ai_layer": "AI-first primary care operator that runs its clinics on its own electronic health record with AI agents for patient intake and drafting of visit documentation; clinicians keep responsibility for all clinical decisions",
  "operating_evidence": "AI agents support nearly 1,500 doctor visits per month (company statement, per Vestbee)",
  "investors": "Warsaw Equity Group (extension lead); Vinci; naturalX Health Ventures; Fluent Ventures; Aternus; KAYA VC; Inovo VC; mBank and Orbit Capital (debt)",
  "status": "verified",
  "source_url": "https://tech.eu/2025/12/16/jutro-medical-extends-series-a-to-eur36m-for-ai-enabled-primary-care-scale/",
  "source_name": "Tech.eu",
  "source_date": "2025-12-16",
  "last_verified": "2026-10-24",
  "notes": "Source states nine clinics added in 2025, a target of around 20 acquisitions per year and that the funding goes to clinic acquisitions in Poland and other European markets; no cumulative acquisition count is published, so the field is left empty. Round, investors and lenders confirmed by Vestbee (2025-12-16, https://www.vestbee.com/insights/articles/jutro-medical-extends-series-a-to-36-m), which reports 20 clinics across Poland and about 120,000 patients. Founded 2020 by Adam Janczewski. Model build: the company built its own clinics and software first and now scales through clinic acquisitions."
 },
 {
  "id": "onepilot",
  "name": "Onepilot",
  "type": "platform",
  "hq_city": "Paris",
  "country": "France",
  "sector": "Customer service outsourcing (contact centres)",
  "model": "software-first",
  "first_deal_year": 2022,
  "acquisitions_count": 2,
  "acquisitions_as_of": "2024-03-05",
  "capital_raised_eur_m": 17.5,
  "capital_note": "EUR 17.5m total funding as of June 2022, including a EUR 15m Series A led by Otium Capital (Outsource Accelerator, 2022-06-23); no later financing found in sources.",
  "ai_layer": "Proprietary AI models pre-resolve tickets on Onepilot's platform; acquired contact centres are equipped with Onepilot's technology",
  "operating_evidence": "Agents about 30% more efficient than market standards (company claim, per source)",
  "investors": "Otium Capital (Series A lead); Global Founders Capital; Kima Ventures",
  "status": "reported",
  "source_url": "https://en-contact.com/onepilot-acquires-eodom-the-french-homeshoring-specialist",
  "source_name": "En-Contact",
  "source_date": "2024-03-05",
  "last_verified": "2026-10-24",
  "notes": "Acquisitions: Hubware (AI tool for agent productivity, 2022) and Eodom (homeshoring contact centre, Boulogne-Billancourt, March 2024); source states the strategy is to acquire other contact centres and equip them with its technology; combined revenue above EUR 20m, 110 employees, more than 250 customers and more than 2,000 active agents. Paris headquarters per Tech.eu (2021-04-12, https://tech.eu/2021/04/12/paris-based-customer-service-outsourcer-onepilot-raises-e2-5-million-in-seed-round/) and Outsource Accelerator (2022-06-23, https://news.outsourceaccelerator.com/customer-care-outsourcing-start-up-raises-e15-million). No second independent media source for the Eodom acquisition was found (Dealroom profile only)."
 },
 {
  "id": "paycraft",
  "name": "Paycraft",
  "type": "platform",
  "hq_city": "Warsaw",
  "country": "Poland",
  "sector": "Accounting and payroll for SMEs in Central and Eastern Europe",
  "model": "buyout-first",
  "first_deal_year": null,
  "acquisitions_count": null,
  "acquisitions_as_of": null,
  "capital_raised_eur_m": null,
  "capital_note": "No financing amount disclosed in sources.",
  "ai_layer": "Acquired accountancies are rebuilt as AI-native back-office operations by an in-house engineering team; AI drafts categorisation, reconciliation and month-end close, a licensed accountant signs off",
  "operating_evidence": "First acquisition: 96% logo retention and 130% net revenue retention (founder figures, per source)",
  "investors": null,
  "status": "announced",
  "source_url": "https://rollupeurope.com/p/paycraft",
  "source_name": "RollUpEurope (newsletter)",
  "source_date": "2026-07-16",
  "last_verified": "2026-10-24",
  "notes": "Source is partly paywalled; the accessible part states that Paycraft acquires accountancies in Central and Eastern Europe starting in Poland and names a first acquisition, a small payroll bureau, about three years earlier; no cumulative count or deal year is given, so those fields are left empty. Company website (https://paycraft.ai/, accessed 2026-10-24, undated) names the entity Paycraft Holdings P.S.A., states built in Warsaw and operating across CEE, more than 200 companies served, and describes partnering with bureau founders seeking a buyer. Founders Piotr Smolen (CEO) and Bart Staszczyk (COO). Status announced: the row rests on the company website and a specialist trade newsletter (RollUpEurope), not on an established news outlet."
 },
 {
  "id": "zazume",
  "name": "Zazume",
  "type": "platform",
  "hq_city": "Barcelona",
  "country": "Spain",
  "sector": "Residential rental management",
  "model": "software-first",
  "first_deal_year": 2026,
  "acquisitions_count": 1,
  "acquisitions_as_of": "2026-04-21",
  "capital_raised_eur_m": 2.5,
  "capital_note": "EUR 2.5m round led by Nordstar and GTV Capital (June 2026), which also converts capital previously provided by Sabadell Venture Capital and other family offices; previous round EUR 2.3m in April 2025.",
  "ai_layer": "Acquired rental portfolios are run on Zazume's proprietary AI-based platform covering the full residential rental lifecycle",
  "operating_evidence": null,
  "investors": "Nordstar (co-lead); GTV Capital (co-lead); Sabadell Venture Capital (converted)",
  "status": "verified",
  "source_url": "https://capital-riesgo.es/es/articles/zazume-cierra-ronda-de-2-5-millones-liderada-por-nordstar-y-gtv-capital-para-adquirir-carteras-de-gesti-n-de-alquiler/",
  "source_name": "Capital & Corporate (capital-riesgo.es)",
  "source_date": "2026-06-03",
  "last_verified": "2026-10-24",
  "notes": "Source states 3,500 properties under management, targets of more than 5,000 by end of 2026 and more than 10,000 in 2027, more than half of the round earmarked for acquiring rental management portfolios in provincial capitals, and four further deals planned in 2026. First acquisition: the residential rental portfolio of Landa Propiedades in Zaragoza, more than 150 homes, reported by Brainsre (2026-04-21, https://brainsre.news/zazume-cartera-alquiler-landa-propiedades-zaragoza/). Round also covered by El Referente (https://elreferente.es/inversiones/zazume-cierra-ronda-de-25-millones-de-euros-liderada-por-nordstar-y-gtv-capital/; direct fetch returned HTTP 403, search snippet only). CEO Jeroen Merchiers."
 },
 {
  "id": "eqt-growth",
  "name": "EQT Growth",
  "type": "investor",
  "hq_city": "Stockholm",
  "country": "Sweden",
  "sector": "Property management and lettings (via Dwelly)",
  "model": "software-first",
  "first_deal_year": null,
  "acquisitions_count": null,
  "acquisitions_as_of": null,
  "capital_raised_eur_m": null,
  "capital_note": "No fund size stated in source.",
  "ai_layer": "Describes applied-AI services roll-ups as one of its highest-conviction themes; backs platforms that move acquired service businesses onto their own agentic workflow layer",
  "operating_evidence": null,
  "investors": null,
  "status": "announced",
  "source_url": "https://stories.eqtventures.com/articles/backing-dwelly-building-the-ai-native-end-to-end-platform-for-property-management",
  "source_name": "EQT (company article)",
  "source_date": "2026-07-28",
  "last_verified": "2026-10-24",
  "notes": "Article on the EQT Ventures stories site, written from EQT Growth's side, states that EQT Growth co-led Dwelly's USD 170m Series B alongside General Catalyst and targets large, fragmented, labour-heavy service industries where value comes from operational change. Co-lead of the Dwelly round also reported by The Next Web (2026-07-28, see Dwelly row). Stockholm: EQT AB's registered office is in Stockholm (EQT AB AGM notice, 2026-04-09, https://eqtgroup.com/news/welcome-to-the-eqt-ab-annual-shareholders-meeting-2026-2026-04-09). Model refers to the venture-backed platforms EQT Growth funds. Page metadata shows a published date of 2026-10-21 next to the visible date 2026-07-28."
 },
 {
  "id": "openocean",
  "name": "OpenOcean",
  "type": "investor",
  "hq_city": "Helsinki",
  "country": "Finland",
  "sector": "AI and data start-ups, including roll-ups of traditional service businesses",
  "model": "buyout-first",
  "first_deal_year": null,
  "acquisitions_count": null,
  "acquisitions_as_of": null,
  "capital_raised_eur_m": 100,
  "capital_note": "EUR 100m raised for the fourth flagship fund at the time of the article; final close target EUR 130m in the first half of 2025.",
  "ai_layer": "Stated interest in private equity roll-up-style start-ups that buy traditional businesses such as clinics and add an AI layer",
  "operating_evidence": null,
  "investors": "Isomer Capital; KRR fund of funds; Elo; European Investment Fund (fund investors)",
  "status": "reported",
  "source_url": "https://sifted.eu/articles/openocean-vc-new-fund",
  "source_name": "Sifted",
  "source_date": "2025-03-13",
  "last_verified": "2026-10-24",
  "notes": "Sifted article could not be fetched directly (HTTP 403); facts taken from the search snippet of the article and cross-checked with Silicon Canals (2025-03-13, https://siliconcanals.com/?p=61211) for fund size, target and fund investors; the roll-up statement by partners Patrik Backman and Tom Henriksson appears only in Sifted. Fund to invest in about 18 to 20 mainly seed-stage companies with cheques of up to EUR 6m (per Sifted). OpenOcean's own website (https://openocean.vc/, accessed 2026-10-24) describes portfolio company Arbio as an AI-native roll-up in property management and hospitality (see Arbio row). Model refers to the platforms the thesis targets."
 }
]