Forestay Capital

Forestay Capital is the enterprise software fund of B-FLEXION, the private investment firm founded by Ernesto Bertarelli. The fund invests in early-growth-stage technology companies, typically writing cheques between $10 million and $20 million in Series A, B and C rounds across Europe, Israel and selectively the US East Coast.

Investment focus is concentrated on enterprise software companies applying AI and data with proven technology and scalable business models, particularly those approaching revenue inflection points. Portfolio companies include legal-AI platform Luminance, engineering AI tool Neural Concept, pricing software Buynomics, predictive fleet maintenance company Stratio, digital freight forwarder Convelio and collaboration platform Howspace.

The firm was founded in 2018 and is headquartered in Switzerland with additional offices in London, Geneva, Jersey and Dublin. Forestay closed its second fund at $220 million in July 2024 and runs a concentrated portfolio of around 13 companies, supported by a small team that includes a dedicated data science function.