GCP signs definitive agreement to realise its investment in Hippo

GCP is delighted to announce that it has signed a definitive agreement to realise its investment in Hippo to Exponent private equity. As part of the transaction, GCP will reinvest a proportion of its value into the new deal. The transaction is subject to customary regulatory clearances.

Founded in 2016, Hippo is an end-to-end digital services consultancy focusing on the UK public sector and offering services across user-centered design, engineering, and data.

Headquartered in Leeds, and with offices across the UK, Hippo has rapidly grown to c.500 people, including training and developing its own talent through the Hippo Academy.

GCP invested in Hippo in March 2021, partnering with co-founders Adam Lewis, Rob Coop and Liz Whitefield to support them in their ambitions for growth.

GCP’s investment focus on the UK knowledge economy, track record of investing in specialist technology services businesses and partnership approach was a key factor in the success of the relationship.

Over the last four years Hippo has strengthened and invested in its senior leadership team, built talent development programmes, evolved systems and processes, and refined its go-to-market strategy to support a more diverse customer base across Government and private sector. In 2023 Hippo also acquired The Data Shed to combine two Leeds founded technology success stories. GCP’s investment partnership with Hippo highlights our commitment to supporting growth in the UK knowledge economy and desire to partner with ambitious founders and management teams to scale their businesses.

Alex Thomson, Partner, GCP commented: “It’s been a privilege to support Hippo in its journey over the last four years. Adam and the team have done a fantastic job of extending service offerings and significantly growing headcount all whilst retaining the unique Hippo culture. This has been another successful technology services investment for GCP and we wish Adam, the team and Exponent the best of success in the future”.      

Adam Lewis, Hippo, Founder and CEO, commented: “It’s been an exciting and transformational four years for Hippo. We are extremely proud of the success of the business, the socially valuable and important work we have delivered for clients, and in particular the growth of our fantastic people. GCP has been an excellent partner to Hippo. They have a long track record of supporting similar businesses, they understand our sector, added value as an investor and were supportive of our culture. Thank you GCP”.