Smedvig Capital

Overview

Smedvig Capital is the London-based investment arm of the Smedvig Family Office, focusing on private markets assets including private equity and venture capital since 1996. It has committed over $2 billion to private equity investments, both directly in growth-stage UK and Nordic businesses and as a limited partner in select funds, while operating Smedvig Ventures for direct investments in ambitious founders. The firm maintains long-term relationships with high-performing managers and adapts its strategy across private equity, real assets, public markets, fixed income, and hedge funds.

History

Smedvig Capital was founded in 1996 by Johnny Hewett and Peter Smedvig as the London office to invest in private equity, coinciding with the Smedvig family's exit from shipping. The broader Smedvig Family Office traces back over 100 years to Peder Smedvig's shipping company, expanding into tankships in 1935 and petroleum exploration in 1973 via Smedvig ASA, which listed on the Oslo Stock Exchange in 1990 and NYSE in 1996. In 2006, Smedvig exited offshore drilling and formalized the family office, with Smedvig Investment Management gaining regulatory approval in Norway in 2007. The firm raised its latest fund in 2024 and continues investing after 28 years.

Notable Products

• Smedvig Ventures - Subsidiary investing €4-8m in B2B tech rounds up to €20m, supporting scale from early traction.
• Private Equity Direct Investments - Lead investments in growth-stage UK and Nordic businesses, totaling $565m directly.
• Private Equity Fund Commitments - LP commitments to selected private equity and venture capital managers, totaling $1.5bn via funds.

Reputation

Smedvig Capital is regarded as a long-term, family-backed investor with deep expertise in both GP and LP perspectives, fostering relationships with top-performing managers over three decades. Professionals note its adaptability from oil and gas heritage to diverse private markets strategies. No major public criticisms identified in available sources; perception centers on consistent value creation in UK and Nordic growth investments.