TechCrunch | Private Equity Giant Permira Doubles Down on Tech-Enabled Growth

What's New Permira's new co-CEO Brian Ruder reveals the firm's evolving strategy, highlighting recent major acquisitions including Squarespace ($7.2B) and Adevinta ($13B), while emphasizing the growing importance of AI and digital transformation across its portfolio companies.

Why It Matters As private equity increasingly shapes the tech landscape, Permira's approach of backing founder-led companies and focusing on "quality assets" rather than distressed companies signals a shift in how PE firms are approaching technology investments in the current market environment.

Big Picture Drivers

• Permira is embracing a "digital backbone" strategy, investing in both pure technology companies and traditional businesses with strong digital transformation potential, as evidenced by its success with luxury brand Golden Goose's pivot to D2C

• The firm's commitment to co-leadership, recently formalized with Ruder and Patel as co-CEOs, reflects a broader industry trend toward shared decision-making and faster strategic execution

• AI integration has become a central focus, with portfolio companies like Zendesk making strategic acquisitions and leadership changes to capitalize on the AI revolution

By The Numbers

• Permira has invested $28 billion across 80 technology companies throughout its history, demonstrating its substantial commitment to the sector

• The firm's recent Squarespace acquisition at $7.2 billion came at a premium to earlier valuations, reflecting its willingness to pay for quality assets

• A fresh €16.7 billion buyout fund positions the firm for continued large-scale acquisitions and investments in the technology sector

Key Trends to Watch

• The acceleration of cloud adoption driven by AI implementation requirements, creating what Ruder calls a "significant upgrade wave" across industries

• Increased focus on founder-retained leadership in PE deals, with the majority of Permira's current buyout fund investments maintaining founder involvement

• Growing emphasis on direct-to-consumer digital strategies across portfolio companies, even in traditional sectors like luxury retail

The Bottom Line For Investors Permira's strategy of targeting high-quality, growth-oriented companies with strong digital potential, combined with its emphasis on founder retention and AI integration, suggests a long-term focus on value creation through technological transformation rather than traditional PE cost-cutting approaches.