The digital twin of every investable market

The first bottom-up model of every investable market.

Thema helps investment firms answer the strategic questions that determine where they deploy capital.

  • Stride
  • KDX
  • UK Research and Innovation
  • University of Cambridge

The context

The most important strategic decisions depend on understanding how markets connect and evolve.

  • 01 · Investment

    Where should we
    allocate capital?

  • 02 · Commercial

    Where will our next
    customers come from?

  • 03 · Supply chain

    Where are our critical
    dependencies?

  • 04 · Talent

    Where are the
    capabilities we need?

The invention

Thema is building a digital twin of every investable market.

A living model of companies, markets and their relationships that updates as markets change.

  • Cybersecurity
  • Payments
  • Semiconductors
  • Healthcare services
  • Industrial automation
  • Logistics software
  • Wealth tech

Layers

  • Companies
  • Products
  • Supply chains
  • Ownership
  • People
  • Patents

  • Structure

    A continuously evolving model of companies and markets.

  • Intelligence

    The digital twin gives AI agents the context to investigate entire markets.

The investment edge

Thema moves AI beyond research and execution to help investors decide where to play

  • 01

    Investor challenge

    Crowded consensus markets

    Thema reveals

    Early consolidation

    Many small players, no clear leader

  • 02

    Investor challenge

    Familiar companies and themes

    Thema reveals

    Overlooked markets

    Attractive but overlooked

  • 03

    Investor challenge

    Lagging indicators

    Thema reveals

    Breakout markets

    Approaching an inflection point

  • 04

    Investor challenge

    Uncertain AI impact

    Thema reveals

    AI winners and losers

    Exposure to AI substitution

  • 05

    Investor challenge

    Reactive risk management

    Thema reveals

    Unseen portfolio risks

    Exposed to two shifts at once

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Customer value

Leading investment firms use Thema to answer their most important strategic questions.

  • 01

    Thema reveals

    Early consolidation

    Customer question

    “Where are the unglamorous markets with recurring revenues that we could consolidate?”

    Mid-market private equity firm
  • 02

    Thema reveals

    Overlooked markets

    Customer question

    “Which business units inside large corporations could become attractive investment platforms?”

    Global mega-fund ($100bn+ AUM)
  • 03

    Thema reveals

    Breakout markets

    Customer question

    “Which emerging markets are becoming investable before they appear on everyone else’s radar?”

    Large European private equity firm
  • 04

    Thema reveals

    AI winners and losers

    Customer question

    “Which industries offer the greatest opportunities for private equity value creation through AI?”

    US mid-market private equity firm
  • 05

    Thema reveals

    Portfolio risk

    Customer question

    “How are the 200 companies across our portfolio exposed to AI disruption and changing market conditions?”

    Global institutional investment manager
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How Thema works

Thema starts with the market, not a prompt.

AI agents don’t know where to look or what they’ve missed.

01 · Across markets · Where to focus

Reasons across every market

How Thema narrows the field

  1. 1Full opportunity space5m+ companies · 10k+ segments
  2. 2Firm mandateSize · strategy · exclusions
  3. 3Compare segmentsMandate fit · fragmentation · momentum
  4. 4Prioritise where to focus250+ → 7 priority segments

Across markets

HealthcareFinancial servicesSoftwareIndustrial servicesEnergyConsumer

Thema’s differenceStructured comparison across thousands of markets.

02 · Within a market · Build conviction

Reveals the full market

How Thema builds conviction

  1. 1Define universe~5,000 companies
  2. 2Discover segments50+ segments
  3. 3Map competitive structure1,000+ companies
  4. 4Reveal opportunities and dynamics5,000+ events

Within a market

ThemaAI agents

Market structure
Thema 93
AI agents 15
Investment opportunities
Thema 92
AI agents 18
Market dynamics
Thema 94
AI agents 09

Thema’s differenceEvery company in the universe screened, with an auditable record.

Customer benefits

Thema shows investors where to focus before the opportunity becomes obvious.

  1. 01

    Know where to focus

    250+ to 7

    New priority markets identified

    Compare markets and segments against your mandate to identify where your fund should focus.

    Mid-market private equity

  2. 02

    See the whole market

    More of the actionable market surfaced

    Screen the full relevant universe to surface companies, segments and connections others miss.

    Global multi-strategy firm

  3. 03

    Move from weeks to hours

    Expert calls replaced

    Compress weeks of CDD research, expert calls and diligence into hours.

    Mid-market private equity

Stay ahead as markets move.

Track changes across markets, portfolio companies and investment theses as the underlying market model evolves.

The system

Thema owns a proprietary index of companies and a model of markets.

  • 01 · Company index

    Index of companies

    Combines licensed data, filings and proprietary discovery into one index of every company.

  • 02 · Universal data model

    Entities and relationships

    Resolves companies, ownership, financials and people into stable identities.

  • 03 · Market topology

    Proprietary model of markets

    Discovers how markets connect, compete and evolve.

  • 04 · Thema agent

    Investment intelligence

    Reasons across markets and produces evidence-backed outputs.

The vision

Thema makes strategy continuous and proactive.

    1. DiscoverNew companies
      and markets
    2. ProcessStructure and
      resolve data
    3. UpdateContinuously
      re‑index

    01 · External

    Market intelligence

    A continuously evolving understanding of companies, markets and their relationships.

    1. CaptureInvestigations and
      decisions
    2. RefineEvolve preferences
      and criteria
    3. LearnFrom usage and
      feedback

    02 · Internal

    Organisational intelligence

    An evolving understanding of each firm’s strategy, investments and decisions.

Always-on strategic intelligence

  1. MonitorWhat is changing in markets?
  2. ReasonWhat does it mean for your firm?
  3. RecommendWhat should you investigate next?

The opportunity

One shared intelligence layer can power applications across every industry.

  • 01 · First market

    Investment
    Intelligence

    Where should we allocate capital?

  • 02

    Commercial
    Intelligence

    Who should we sell to?

  • 03

    Supply Chain
    Intelligence

    Where are we exposed?

  • 04

    Talent Intelligence

    What capabilities will we need?

Shared proprietary intelligence

The digital twin of every investable market.

  • Companies
  • Products
  • Supply chains
  • Ownership
  • People
  • Patents

Find your next market.