Founder-facing answers.

TGC Capital Partners is an operator-led growth investment firm. We deploy minority capital alongside embedded operating capacity drawn from our parent organisation, the Gateway Group. The firm was established as the dedicated investment arm of a 28-year-old operating organisation.

Operator-led growth equity is a private investment model in which the investor combines minority capital with an embedded delivery team - engineers, go-to-market operators, and governance specialists - who work alongside the founder for the duration of the investment under a written operating thesis. Unlike traditional growth equity, the firm is structurally accountable for execution outcomes alongside the management team. See our full definition at /resources/operator-led-growth-equity-explained.

None of the three, in the strict sense. Venture capital firms typically deploy capital with limited operational involvement. Private equity funds typically pursue control. Venture studios build companies from inception. We invest as minority partners in established businesses with product-market fit, and we provide operating capacity at a scale most growth investors cannot match.

Venture capital provides risk capital and network value but rarely embeds delivery teams in the portfolio company. Operator-led growth equity combines a smaller, more capital-efficient investment with hands-on execution support - typically requiring 30–40% less total capital to reach the same scaling milestones because operating capacity is provided directly rather than rebuilt internally.

Private equity firms typically take majority or control positions and impose standardized operating playbooks. Operator-led growth equity firms take minority positions, preserve founder strategic control, and embed execution capacity rather than dictating it.

No. We invest as minority partners with founder-friendly structures: 1× non-participating preferred, broad-based weighted-average anti-dilution, no protective provisions beyond what is necessary for institutional governance, no board-control thresholds. Founders retain strategic, cultural, and operational control. We participate in board governance proportionate to our economic interest.

Yes. Minority growth equity structures allow founders to raise capital while retaining majority equity, board control, and operational decision-making. Investor protections are typically limited to minority-protective provisions (consent on major M&A, share issuance, etc.) rather than day-to-day governance. See /platform/founder-control for how TGC structures this.

In tranches. Initial capital is deployed at closing; subsequent tranches are released against operating milestones developed in the 90-day diagnostic phase and codified in the operating thesis. Founders help define the milestones. The structure aligns incentives and limits unnecessary dilution.

Gateway Group is a 28-year-old operating organisation with delivery presence aligned to our target markets across Europe, North America, the Middle East, and India. TGC Capital Partners is its wholly owned investment vehicle. Gateway provides the operating capacity - engineering, design, GTM, governance - that we deploy into portfolio companies on transparent commercial terms.

An embedded operating partner is a senior operator (engineering leader, GTM expert, or industry specialist) who works full or part-time inside a portfolio company for an extended period, owning specific outcomes alongside the management team rather than advising from outside.

Three differences are material. First, the operating teams we deploy are equity-aligned with portfolio outcomes through TGC's investment, not transactionally compensated by the portfolio company. Second, deployments are milestone-driven, governed by the operating thesis, and reviewed quarterly. Third, the relationship is structured as an investor-operator partnership, not a vendor-client arrangement.

It varies by stage and operating thesis. A typical TGC deployment ranges from 8 to 25 named specialists per portfolio company - engineers, GTM operators, governance specialists - drawn from the Gateway Group operating bench across 16 countries.

The founder. Deployed engineers report into the company's engineering organisation under the CTO; GTM operators report into the CRO; governance specialists report into the CFO. The deployed teams are part of the founder's organisation, not a parallel TGC pod. See /resources/embedded-engineering-investor-explained for the operational details.

HyperScaling is TGC Capital Partners' framework for combining minority capital with embedded delivery resources to compress a B2B SaaS company's scaling timeline while reducing capital intensity by 30–40% compared to traditional VC-funded scaling.

Companies between approximately €0.5M and €5M of annual recurring revenue, with established product-market fit, in B2B SaaS, vertical software, and tech-enabled services. We do not invest in B2C, hardware, deep tech, or capital-intensive sectors outside software. We invest across Europe, North America, the Middle East, and India.

TGC partners with B2B SaaS scaleups typically in the €0.5M–€5M ARR range that have achieved product-market fit and are ready to scale internationally beyond their home market.

Tier-1 markets are the Netherlands, Belgium (including Wallonia), Germany, France, Sweden, Norway, Denmark, and Finland. We also work selectively with founders in the UK, Iceland, the United States, Canada, India, the UAE, South Africa, and Japan. See /markets for the country-level coverage and partner assignments.

Yes - vertical SaaS is one of our three sector clusters alongside horizontal B2B SaaS and tech-enabled services. We have direct experience deploying engineers and GTM operators into healthcare, fintech, industrial, real estate, and HR-tech vertical SaaS. See /sectors/vertical-saas.

No. Our sector focus is B2B SaaS, vertical software, and tech-enabled services. The operating capacity we deploy is calibrated to those sectors and would not transfer cleanly to B2C, hardware, or deep tech.

The 90-day diagnostic begins within five business days of an introductory call. Term sheets, when both parties elect to proceed, are issued within forty-five days of diagnostic delivery. Closings typically occur within sixty days of term sheet execution. Total elapsed time from first call to closing averages five to seven months.

A written 24-month operating thesis is the document that defines: (1) the milestones we and the founder commit to over the engagement, (2) the deployed operating teams against each milestone, (3) the capital tranches that release against milestone achievement, (4) the governance cadence, and (5) the exit conditions, if any. The thesis is co-authored with the founder.

Yes, and routinely. Many TGC partnerships involve companies that have already raised seed or Series A from venture investors. We co-exist comfortably with venture cap-table participants when the operating thesis is clear and term-sheet conventions remain founder-friendly.

No. TGC has no fund cycle clock and no exit obligation in the operating thesis. We compound through revenue growth and operating leverage rather than valuation step-ups, so we have no structural incentive to push the company toward an exit window the founder is not ready for.

TGC operates as an operator-led growth equity platform: minority capital is paired with embedded engineering, GTM, and governance teams from Gateway Group's 2,000+ specialist bench across 16 countries. Traditional VCs provide capital and network access but do not embed execution teams.

Through one of three channels: a direct introduction, a referral from an advisor or operator known to the firm, or selected accelerator and operator networks. Write to us via /contact and a partner will respond within five business days.