Altor advances AI leadership through a strategic partnership with WovenLight
Altor and WovenLight have entered into a strategic partnership to drive artificial intelligence (AI) in Altor as a firm and amongst its portfolio companies. The partnership is a core part of Altor’s ambition to play a leading role in value creation through AI following its successful investment in Silo AI, sold to AMD in Europe’s largest AI exit to date.
WovenLight was established to unlock superior performance in private markets by reimagining value creation capabilities through a differentiated “co-sponsorship” business model. With a focus on the private equity industry, WovenLight leverages its expertise to enhance the value creation plan and strengthen the investment thesis by operationalising AI within portfolio assets.
By partnering with WovenLight, Altor adds another layer to its long legacy of leading business transformations. WovenLight will act as an AI transformation partner to Altor and its portfolio companies through joint value creation initiatives. The collaboration already has several live projects, including in CCM Hockey and Svea Solar. Looking ahead, Altor and WovenLight will continue to identify initiatives to drive value creation by applying WovenLight’s know-how and AI capabilities to leverage both firms’ combined resources for greater results.
“We are excited to bring WovenLight on board as an AI transformation partner. Their expertise will help us accelerate our work to future-proof businesses. Value creation is at the core of what we do – it’s how we help companies win. Assisting companies through the AI transition will be one of the most important themes for private equity in the coming years,” said Paal Weberg, Managing Partner at Altor.
“We looked for the best experts in the industry and this is what we found in WovenLight. We are now, when adding WovenLight’s exceptional talent to our internal AI capabilities, taking a leading position in the industry with our technology-driven approach to value creation,” said Mattias Holmström, Partner and Head of the Tech Sector at Altor.
“I’m delighted to partner with Altor given their long-standing track record of helping build outstanding companies and delivering premium returns. We believe that working together systematically pre and post deal to assess and implement performance improvement through the use of data and AI represents the next generation in private equity value creation. Together we can help build purposeful and resilient businesses with the goals of outperformance and continuing to deliver compelling returns. Our approach brings together complementary skillsets and clear alignment of interest”, said Simon Williams, Partner and Founder of WovenLight.
About Altor
Since inception, the family of Altor funds has raised more than EUR 12 billion in total commitments. The funds have invested in more than 100 companies. The investments have been made in medium-sized companies predominantly in Nordic and DACH with the aim to create value through growth initiatives and operational improvements. Among current and past investments are Silo AI, FLSmidth, Meltwater, Marshall, CCM and Mandatum.
About WovenLight
WovenLight is a technology and private equity investing company with a differentiated “co-sponsorship” business model, delivering sophisticated data analytics and artificial intelligence to improve performance in private equity portfolio companies, while deploying capital alongside private equity firms into these businesses. WovenLight was founded by Simon Williams, who previously co-founded QuantumBlack, a machine learning and data sciences consulting firm launched in 2009 and acquired by McKinsey & Company in 2015.
Beginning in 2023, WovenLight has partnered with Tetragon Financial Group Limited and its private equity business, Banyan Square Partners. Tetragon and Banyan Square have made a strategic investment in WovenLight and provide a key source of co-investment capital for WovenLight to deploy through its private equity relationships.
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Contact details:
For Altor media enquiries:
Karin Åström
Head of Communications
Altor Equity Partners
karin.astrom@altor.com
For WovenLight media enquiries:
Andrew Searle
Head of Operations
WovenLight Limited
press@wovenlight.com