M&G Catalyst is a growth equity strategy within M&G’s Private Markets platform, designed to invest in purpose‑driven, technology or technology‑enabled companies that address major global challenges while generating competitive financial returns.
Catalyst focuses on four central investment themes: Planetary Health, Human Health, Access and Inclusion, and Enabling Technologies. These themes underpin the investment framework, which targets companies whose commercial success aligns with measurable environmental or social impact. Investment activity centres on growth-stage opportunities, typically Series B and later, where companies demonstrate strong product market fit, revenue traction, scalable business models and clear pathways to profitability or exit.
Since its inception in 2021, Catalyst has invested over £1 billion with the majority of transactions either led or co‑led by the team. The strategy benefits from the breadth of M&G’s global platform, including access to central equity research analysts who support underwriting across multiple sectors, enhancing diligence depth in areas such as healthcare, technology, industrials, climate solutions and financial services.
Reason for commitment from British Business Bank
M&G Catalyst Growth Equity Fund I aligns with the Bank’s strategy to mobilise institutional capital at scale, and support the UK’s most promising companies in Advanced Manufacturing, Clean Energy, Digital and Technology, Financial Services, Life Sciences and Professional and Business Services.
Previous investments by the manager
Pragmatic
Designs and manufactures ultra‑thin, flexible integrated circuits that offer a low‑cost, sustainable alternative to silicon in semiconductor manufacturing, enabling intelligence to be embedded almost anywhere.
Nearfield Instruments
Developer of high‑precision metrology and inspection systems that address critical bottlenecks in chip fabrication, particularly as device geometries become smaller and more complex.
Gradiant
Water-tech company delivering differentiated, end‑to‑end industrial water treatment solutions for critical industries such as semiconductors, pharmaceuticals, food and beverage, and lithium.
BioFirst
A global provider of Integrated Pest Management services, providing tailored bio‑stimulant and bio‑pest control solutions that improve soil health and reduce reliance on chemical agriculture.
Reactive Technologies
Reactive Technologies provides real‑time grid‑measurement technology that delivers insights on inertia, system strength, oscillation and harmonisation to enable more stable and renewable‑ready electricity grids.
M&G Catalyst Growth Equity Fund I has completed full British Business Bank due diligence, and received Investment Committee approval.
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Fund Manager
M&G
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Based in
HQ in London with a global presence across 39 locations
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Stage
Growth Stage
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Industrial Strategy Sectors
Advanced Manufacturing, Clean Energy, Digital and Technology, Financial Services, Life Sciences, Professional and Business Services
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Structure
GP/LP close-ended
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Fundraising target
£750 million - £1 billion
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British Business Bank Commitment
£75 million
Disclaimer
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