Bullhound Capital
Investment management arm of GP Bullhound that backs technology companies in areas such as AI infrastructure, quantum computing and physical AI, and says it manages over EUR 1 billion.
Industry: Growth and venture capital | Founded: 2008
About Bullhound Capital
Bullhound Capital is a venture and growth investment firm that describes itself as the investment management arm of GP Bullhound, working with founders who build technology companies. It says it manages more than EUR 1 billion. Its website lists AI infrastructure, quantum, physical AI, space, security and sensing, and health as investment themes, and names offices in London, Manchester, Stockholm, Luxembourg, Madrid, Miami and Kuala Lumpur.
A company release says Bullhound Capital was launched in 2008, while its boilerplate also cites 25 years of performance, which matches the history of its parent. Per Roman co-founded GP Bullhound in 1999 and is chairman and managing partner there; Bullhound Capital's website lists him as founding partner and chief investment officer. It names Hugh Campbell and Manish Madhvani as partners and co-founders, and Callum Stewart, who joined the board of Salience Labs, as a principal.
The website lists 29 portfolio companies, among them Spotify, Klarna, Revolut, Slack, Unity, HackerOne, EcoVadis, Whoop, Multiverse Computing and Oxford Quantum Circuits. Its Fund VII is described as a concentrated portfolio of 10 to 12 deep technology companies, and its first investment from that fund was in the robotics company Sereact in April 2026, in a USD 110 million Series B alongside Headline, Daphni and Felix Capital. Fund sizes are not disclosed on the pages read.
In March 2026 Bullhound Capital increased its position in Whoop's USD 575 million Series G, led by Collaborative Fund at a USD 10.1 billion valuation. In June 2026 it led Oxford Quantum Circuits' GBP 260 million Series C, which the company described as Europe's largest private quantum computing funding round. In July 2026 it co-led Multiverse Computing's USD 570 million Series C with Forgepoint Capital International and BNPP Solar Impulse Venture Fund, a round that also included Qatar Development Bank. In October 2026 it led Salience Labs' USD 125 million Series B.
In November 2025 Bullhound Capital sold its Fund III holding in the UK car finance marketplace Zuto, which received a majority investment from Bridgepoint's Small Cap Growth fund. Terms were not disclosed.
Leadership
- Per Roman, Founding Partner and Chief Investment Officer
- Hugh Campbell, Partner and Co-founder
- Manish Madhvani, Partner and Co-founder
- Callum Stewart, Principal