Thema raises $6.2m to guide platform expansion

The Expansion Operating System for Private Equity Investors

Decide where to buy, build, and expand – not just which companies exist.

Sourcing finds companies. Thema defines expansion strategy.

Most tools answer: “What companies look similar?”
Thema answers: “Where should this company expand next – and why?”

  • Define strategy
  • Map adjacencies
  • Continuous updates

The Expansion Workflow

The same workflow applies every time.
What changes is the question you start with.

Define the Expansion Question

A company, market, or sector.

Step 1

Map Market
Structure

Segments, adjacencies, and competitive dynamics.

Step 2

Explore Expansion
Paths

See how platforms expand across adjacencies.

Step 3

Pressure-Test
Strategy

Adjust structure, explore alternatives, and stress-test assumptions.

Step 4

Produce IC-Ready
Views

Expansion narratives and prioritised targets ranked by strategic fit.

Step 5

Expansion Use Cases

One system. Three starting points.

All roads lead to the same outcome: portfolio expansion.

Portfolio Expansion

Where should our platform expand next?

You start with a platform company. Thema maps where it truly competes, which adjacencies create value, and how acquisitions compound across business lines and geographies.

Market Expansion

Can we build a platform here?

You start with a market. Thema reveals fragmentation, competitive structure, and realistic expansion paths - before capital is committed.

Sector Expansion

Which sectors reward platform strategies?

You start with a sector. Thema shows which sub-sectors and themes have the growth, operating leverage, and market dynamics required for successful platform strategies.

Built for Private Equity Investors

Everything you need to run portfolio expansion.

Faster conviction on expansion priorities

Clear platform theses that focus sourcing and diligence

Stronger IC narratives grounded in market structure

What customers say about the product

  • It’s really impressive – I just want to play with it.

    Partner

    → Tier-1 Consultancy

  • The workflow is what excites me – this feels strategically very different from sourcing tools.

    Investor

    → Leading Tech Buyout PE

  • This is much better than what I got from ChatGPT.

    Senior Associate

    → Top-10 Global Bank

  • We’d love to work with you on a formal paid pilot – let’s take this to our senior team.

    Investor

    → Leading Tech Buyout PE

  • It’s intuitive, and creates a market map incredibly fast – that’s computationally hard.

    Head of Origination

    → Top European Private Equity Firm

  • We think there’s tremendous potential.

    Senior Associate

    → Leading Tech Buyout PE

Built for trust. Engineered for precision.

Enterprise-grade security and privacy at every layer.

Ready to define your expansion strategy?