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Buyout PE

Ice Lake Capital

Ice Lake Capital acquires controlling stakes in established, profitable businesses, from Amsterdam, Netherlands. It states a focus on software & internet, healthcare & life sciences, business & professional services and industrials & manufacturing.

Capital raised$182macross 1 SEC-filed vehicle
Most recent fund2024
HeadquartersAmsterdam, Netherlands
Largest single fund$182m

Stated investment criteria

What Ice Lake Capital says it buys

Read from Ice Lake Capital’s own website in August 2026. This is what the firm says it buys, not what anyone has recorded it buying, and figures are shown in the currency the firm itself used - nothing here is converted. Every line links to the page it was read from.

Transaction typesBuy-and-build1

A stated mandate is a firm’s description of itself and was true of the page on the day it was read; firms widen and narrow what they will look at without updating the site. Nothing here is a commitment by Ice Lake Capital to consider any particular business, and nothing on this page is represented as being for sale.

SEC filings

What Ice Lake Capital has raised

From this firm's own Form D filings. A fund files one within fifteen days of its first sale, under penalty of perjury, which makes these the hardest numbers on the page.

Vehicles filed1
Total capital raised$182m
Largest single vehicle$182m
Filing history2024
Smallest accepted commitmentNone stated
Filed fromNETHERLANDS

Form D covers US-domiciled vehicles raised from accredited investors. It will not capture a fund raised outside the United States, separately managed accounts, or capital deployed off balance sheet, so treat these as a floor rather than a total.

Regulatory record

How Ice Lake Capital is registered

From this firm's Form ADV, the annual filing every registered and exempt investment adviser makes to the SEC.

Adviser statusExempt reporting adviser
Regulatory assets under managementNot reported by an ERA
Private funds advised2 · $940m gross
SEC adviser numberCRD 332289

An exempt reporting adviser is not required to report regulatory assets under management, so the blank above means the question was not asked rather than that the answer is unknown. Where a figure exists it is the gross asset value of the private funds the firm advises, which is a different and usually larger measure.

Portfolio

Disclosed holdings

Companies Ice Lake Capital lists on its own website. No investment years are published.

CompanyInvestedYears heldRecorded transaction
BBTG
BBTG IT Services
Broadpin
Broadpin IT Services
Certe Groep
Circreate
Constructif
Genetics
Genetics Software
GroundBirds
HeadFirst
Interduct Group
Interduct Group Indoor Climate Technology
Nazca Software
Orange Group
P R Medical Healthcare
P&R Medical
Studibo Group
Studibo Group 2
quattron

Compiled from Ice Lake Capital’s published portfolio page. Where a recorded transaction is shown, that company was the target of a reported deal and has most likely already been realised. Nothing here is represented as being for sale.

Valuation context

Transaction values in Software & Internet

What companies have actually sold for in software & internet, across 2,672 recorded transactions.

Median consideration$80m
Middle 50%$20m-$250m
Revenue multiple2.2×
EBITDA multiple10.9×

The full software & internet picture - most active acquirers, recent transactions and every investor in the sector.

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Comparable investors

Similar mandates

Other buyout pe investors active in software & internet.