We back
Europe's retail
tech champions.
Evergreen capital. Operator discipline. A €1B+ blind spot and we own it.
Between venture and growth —
a €1B+ blind spot.
We own it.
After a decade of capital chasing scalability at all costs, the most compelling opportunities are no longer in early-stage bets or late-stage multiples. They sit in the middle — ignored, undervalued, and ready.
Too large for venture. Too niche for traditional PE. These companies have solved a real problem, built loyal customer bases, and demonstrated their value.What they lack is not ambition.
Evergreen. Not a fund. An Alliance.
A clear objective: create lasting, measurable, and distributable value over time.
Trapped in a fixed timeline
Built to last, built to compound
A distinctive investment thesis
European specialized software, 1–20M€ ARR, serving retail — each investment part of a coherent, interoperable ecosystem.
Active partnership, not passive capital
Your experience and network directly contribute to performance — governance, market access, business introductions.
Methodical risk management
We only back companies profitable or near profitability, with proven product-market fit and a loyal customer base.
We back proven retail tech in the overlooked middle.
We target B2B Software companies that have already earned their market, with real revenue, real customers, and real product-market fit.
But lack the structure, the network, or the capital to reach their full potential.
ARR. Established businesses with proven market traction, not pre-revenue bets.
Specialised software solving precise operational challenges for retail networks.
Solutions for store networks, omnichannel, workforce, or commerce. Our sector, exclusively.
Companies that have embraced the AI shift and leveraged it to accelerate product, operations, or customer value.
AI-enhanced, not AI-dependent.
Build the reference ecosystem for retail SOFTWARE in Europe.
We acquire and support proven B2B software solutions, each established in its vertical, to build a coherent, interoperable, performance-driven ecosystem.
Meal Intelligence
Intelligence
Demand Intelligence
We've already started, and the results are in.
Two investments live. Two companies already on a different trajectory. Here is what operator-led capital looks like in practice.
Instaply
Yaggo
Operators first. Investors second.
We've been there before, building, scaling, transforming retail tech companies. At TGO, we invest our own capital, expertise and time alongside the teams we back.
The retail tech sector is full of companies that have earned their place but never had the right conditions to scale. TGO was built to change that, by putting operators with real accountability at the centre of every investment.
THREE WAYS IN. One Alliance.
Strategic Investor
Deploy meaningful capital into a focused, operator-led portfolio of European retail tech champions. Depending on your objective: sit at the investment committee, shape deal selection, access co-investment rights on future acquisitions, or combine all three.
Individual Investor
You are a retail executive or a sector expert. Your expertise and network are as valuable as your capital for companies in the portfolio.
ENTREPRENEURS
We invest in B2B Software with €1–20M revenue solving real problems for retail networks. We review every deck personally.