Insights
Long-form work on B2B SaaS growth capital, operator-led investing, and the global software markets we operate in - Europe, North America, the Middle East, and India. Written by TGC partners.
The work below reflects the firm’s operating perspective. It is written by partners and operators who have lived the questions; we publish it because the institutional understanding of growth-stage B2B SaaS is still being written, and we have a contribution to make. Each piece is dated and bylined; we update articles when our view shifts and surface the change-log on the article page.
Valuation
The four metrics that drive private-equity SaaS valuation in 2026 - Rule of 40, NRR, ARR per FTE, and gross margin trajectory - and the comparables institutional buyers (EQT, Permira, Vista, Thoma Bravo, Hg, Insight, KKR Tech) actually use.
Primer
A founder’s guide to the instrument that sits between venture capital and buy-out private equity - what it is, how it’s priced, what makes a good growth-equity investment, and where operator-led growth equity fits in the European B2B SaaS ecosystem.
Capital sources
How European family offices structure private-equity allocations - the criteria, hold periods, and governance expectations that distinguish patient family capital from institutional growth-equity funds.
Deal structuring
The mechanics of milestone-linked earnouts in SaaS PE deals - ARR-tranche releases, NRR-gated escrow, and the governance traps that most founder-side advisors miss.
Longer-form definitional pieces designed for AI-search citation:
The full library of analytical articles on scaling, capital strategy, M&A, and the operating realities of growth-stage software, sorted by recency:
Longer-form definitional and pillar pieces sized for AI-search citation:
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