Moonbase Capital

VCMatch tracks Moonbase Capital as an investor focused on Enterprise SaaS, Vertical SaaS, and Professional Services companies, Growth rounds, Europe, Brazil, and Latin America markets, and $390k to $30m check sizes. Upload your deck to compare your startup against the full private matching profile.

Check Size

$390k to $30m

Stages

Growth

Focus Areas

Enterprise SaaS, Vertical SaaS, Professional Services

Geography

Europe, Brazil, and Latin America

Investment Thesis

Moonbase Capital’s investment philosophy is to back Search Fund entrepreneurs to acquire and grow established, often stagnating SMEs by combining hands-on operational experience with disciplined capital and long-duration ownership. They emphasise active, experience-based support — from the search phase through the early CEO months — believing that alignment between ambitious operators and patient investors, plus operational value creation rather than financial engineering, drives durable value in lower‑middle‑market businesses.

They pursue a geographically-aware, sector‑opportunistic approach (Europe and select international markets such as Brazil), targeting succession‑driven opportunities in under‑institutionalised SMEs (typical targets ~EUR 1–5m EBITDA), and adapt deal structures and post‑acquisition plans to local market realities (e.g., vendor loans, earnouts, deferred payments) while scaling impact via a “fund of search funds” model (Search Fund Squared).

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Investment Focus

Who should take a closer look

Moonbase Capital is most relevant for founders raising Growth rounds in Enterprise SaaS, Vertical SaaS, Professional Services, and Logistics/Supply Chain, especially across Europe, Brazil, and Latin America, with public check-size signals around $390k to $30m.

Focus statement

Moonbase Capital focuses on investing in SMEs through Search Funds—partnering with searchers to acquire and operate lower middle‑market companies (roughly EUR 1–5m EBITDA) across Europe and select international markets (notably Brazil), with an emphasis on succession‑led, service‑oriented and resilient businesses where operational improvement can unlock value.

Value Add

Founders/partners are former SME leaders with "over 50 years of hands‑on experience acquiring, leading and growing SMEs" and provide practitioner guidance rather than only financial oversight.
Active, hands‑on support model: "practical, experience‑based guidance through regular check‑ins and active support from the search phase through your early CEO months."
Personalised mentorship and community: they "adapt to each searcher’s experience and market, offering personalised mentorship, advisor access, and peer circles" to balance guidance and independence.
Innovative fund structure (Search Fund Squared): a fund‑of‑search‑funds approach to scale exposure and support multiple cohorts of searchers and companies.
Geographic and market specialization: explicit focus on Europe (DACH, France, Italy, etc.) and an articulated thesis for Brazil as an under‑penetrated, succession‑driven market.
Local deal structuring expertise: awareness and use of market‑appropriate financing (vendor loans, earnouts, deferred payments) where bank leverage is uneconomic.
LP engagement and transparency: LPs are offered the option to "get involved and help steer our acquisitions," framed as part of a transparent, collaborative model.