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Growth Equity

ICOS Capital

ICOS Capital takes minority stakes in growing companies, usually without full control, from Amsterdam, Netherlands. It states a focus on energy & utilities and environmental & safety.

Disclosed holdings3
Earliest stated investment2026
HeadquartersAmsterdam, Netherlands
Largest single fundNot stated

Stated investment criteria

What ICOS Capital says it buys

Read from ICOS 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 typesGrowth1
People listed on its team page132

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. The team figure counts the people the firm shows on one team page, so it is a floor rather than a headcount: firms that split their team across tabs or load it in pages will read low. Nothing here is a commitment by ICOS Capital to consider any particular business, and nothing on this page is represented as being for sale.

Portfolio

Disclosed holdings

Companies ICOS Capital lists on its own website. 3 carry a stated investment year.

CompanyInvestedYears heldRecorded transaction
Foamlab20260
Mevaldi B.V.20260
eAgronomist20260

Compiled from ICOS 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 Energy & Utilities

What companies have actually sold for in energy & utilities, across 584 recorded transactions.

Median consideration$180m
Middle 50%$45m-$420m
Revenue multiple1.4×
EBITDA multiple7.1×

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

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Comparable investors

Similar mandates

Other growth equity investors active in energy & utilities.