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.

TARGET ECONOMICS
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 partners 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.

This page is for informational purposes only and does not constitute a financial promotion, investment advice, or an offer to invest. Any investment opportunity discussed is available only to certified high net worth individuals, self-certified sophisticated investors, or investment professionals as defined by the Financial Promotions Order 2005. Capital at risk. Past performance is not indicative of future results. Target returns are illustrative only and not guaranteed. Open Equity is not authorised or regulated by the Financial Conduct Authority.