Always “fascinated by investing”, Olly knew he wanted to do more than number crunching. His passion for supporting founders and building businesses made Copilot the ideal fit for his second private equity role.

“I’ve always been drawn to the process of building businesses and the entrepreneurship that comes with that. There is huge satisfaction in knowing you've played a part in business growth and can tangibly see the impact.” Olly Demaine, Investor, Copilot Capital.

Forging an early path to private equity

Born and bred in Cornwall, Oliver Demaine’s natural interest in investing meant an economics degree at Exeter University and a placement year in investment management were a no-brainer. However, it was during his placement that he realised he wanted a more hands-on role in investing, setting his sights on a future in private equity.

With this in mind, he joined the investment bank, Alantra , after graduating. Operating in the mid-market, the role gave him experience of the “toolkit” of corporate finance and business planning, combined with a relationship focus that he knew would be important in private equity.

“At Alantra, I worked almost exclusively with founder-led businesses,” he explains. “So, it incorporated both the technical and people side of finance, which is more aligned with where I was heading, in contrast to a more corporate and transactional large-cap scenario.”

“Although investment banking is interesting, and you learn what a good business looks like and the transactional skill set, there’s a limited long-term impact to the growth or strategy of a business you’re working with,” he says. “Advising companies, there is little you can do to shift the needle operationally. I knew I wanted the direct input you get in private equity.”

A first taste of private equity – and exit

Olly secured his first private equity role at Levine Leichtman Capital Partners (LLCP), a US firm with a dedicated European fund. With a small team and a generalist focus, he was able to make an impact across the full private equity lifecycle.

“I enjoyed helping to build businesses, both organically and inorganically, working with the management team over a long period,” he says. “To see a business through to exit and the next chapter of its growth, and the management dynamics, is a unique experience.”

At LLCP, he also gained exposure to a range of technology business, including: RegTech software, e-learning training and legal data & intelligence. Seeing the long-term and varied opportunities in the tech space, he quickly realised this was the direction he wanted to follow in his next role.

“Software is driving the fastest growth across almost all verticals, plus the value creation levers are more varied. That, for me, is more intellectually stimulating - and exciting!” he explains. “After LLCP, I wanted to take that experience and also have a chance to build something.”

Joining Copilot

Olly had met Copilot Capital Founder John Messer a few years previously and, following four years at LLCP, was keen to join him on the Copilot journey. As a European software specialist, Olly saw that Copilot would allow him to follow his passion for technology while helping to shape the company culture and approach from the early stages. Since joining, the experience hasn’t disappointed.

“It is extremely rare to come across a team like Copilot, assembled from leading firms to build something different,” he says. “The team excels at critical thinking and collaboration, and the culture is very supportive, with a big emphasis on personal development and teamwork. There are very few new private equity firms out there, so the opportunity to have that early impact is hugely compelling.”

Flying on day one

Olly’s first day at Copilot set the tone for what to expect from his new role, as he was immediately on a flight to Vienna to meet with advisors. This experience reflects the fast-paced nature of the role, where no two days are the same.

“Every day is genuinely different, including a mix of originating and analysing deals, working on the existing portfolio and developing new buy and build platforms,” he says. “I also like the problem-solving, and that there isn't a cookie-cutter approach. Every situation or deal is different.”

But for Olly, it’s the relationships that get him up in the morning.

“I think people often don’t realise how important people skills are in private equity,” he says. “You're trying to get founders to sell their baby, so you need to work out how to differentiate yourself. That means building trust, showing that you won’t just add value to the board, but that you can work in partnership for three to five years.”

Hitting his stride

Before joining Copilot, Olly spent six months following other passions, including travelling to Kenya and Tanzania to spend time kite surfing and doing a motorbike safari.

Now fresh and ready to go, he’s getting stuck into exploring opportunities in tech and has already played a key role in the latest platform deal, Zendr, giving him early exposure to how Copilot invests. Going forward he will be specifically focused on deal origination in the UK and Ireland, bringing his own insights and experience to the Copilot mix.

“I believe legal tech is going to be a big area going forward, as there is quite low adoption, a lot of workflow automation still to happen, plus global regulations and compliance to navigate. There are a lot of smart companies emerging, and I’m excited to meet more of them,” he concludes.

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