AI services rollup

Building the independent AI deployment platform.

The model labs are vertically integrating deployment. This creates a gap for an independent, model-agnostic alternative. We're filling it through disciplined buy-and-build.

3xMOIC
25%+Net IRR
£15MEquity
3-5 yrsHold
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What's happening in the market
OpenAI
Acquired Tomoro. $4B committed.
150 engineers become "Forward Deployed Engineers." Bain, McKinsey, Capgemini as consulting partners. DeployCo valued at $14B. Deploys OpenAI models only.
Anthropic
$1.5B deployment JV.
Backed by Blackstone, Hellman & Friedman, Goldman Sachs. Same playbook - vertically integrating the deployment layer around their own models.
The gap
No independent, model-agnostic platform.
Every enterprise CIO is now thinking about vendor lock-in. They need deployment partners who choose the best model for the job - not the one their parent company built.
The thesis

Services are the new software.

Sequoia's thesis: AI-native services companies will command software-like margins as AI tooling replaces headcount with leverage. The deployment layer is where enterprise value accrues - not in the models themselves.

We're building the independent, model-agnostic AI deployment platform through disciplined buy-and-build. One UK platform acquisition with a regulated vertical and strong management. 3-5 specialist bolt-on agencies. Decentralised operations with shared AI tooling and commercial infrastructure.

The exit buyer is already identifiable: a lab wanting deployment reach without building it, a hyperscaler wanting services capability, a systems integrator needing AI-native DNA, or a buyout PE firm attracted to the recurring revenue and margin profile.

The structure
Platform. Bolt-on. Scale.
Step 1

Platform

Acquire a UK-based AI services business. £5-15M revenue. Regulated vertical. Strong management team. This is the operating backbone.

Step 2

Bolt-on

Acquire 3-5 specialist AI agencies at £3-10M revenue each. Vertical expertise. Client relationships. Engineering talent. Run decentralised with shared services.

Step 3

Scale

Deploy Open Equity's organic playbook across the group. AI tooling, content, paid acquisition, product development. Compound revenue. Expand margin. Exit at premium.

Pipeline status
3-5
Platform candidates
415
Bolt-on targets identified

Active pipeline. Platform candidates in conversation. Bolt-on universe mapped and scored by sector, geography, and strategic fit.

Target economics
£15M
Equity deployed
£25M
Target revenue
£8M
Target EBITDA
7-9x
Exit multiple
Thomas Cornwall
Leadership
Thomas Cornwall
Founder & Managing Partner, Open Equity

15 years across operating, private equity, and M&A. 100+ deals. £2BN+ transacted. Largest exit £1.4BN. Open Equity brings the dual playbook - organic growth engine (product, content, paid, AI) plus inorganic deal capability (rollups, M&A, structuring, capital formation).

Seeking aligned capital

Let's build something extraordinary.

We're open for co-investment partners who share the thesis. Full deck on request.

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Qualified investors only. Confidential.