Octopus Group

Last updated

Octopus Capital Limited
Octopus Group
Company type Private
Industry Conglomerate
FoundedApril 19, 2000;23 years ago (2000-04-19) in London
Founders
  • Simon Rogerson
  • Christopher Hulatt
  • Guy Myles
HeadquartersLondon
Key people
Simon Rogerson (CEO)
AUM £12.6bn (2022)
Website octopusgroup.com OOjs UI icon edit-ltr-progressive.svg

Octopus Capital Limited, trading as Octopus Group, is a privately held United Kingdom based holding company founded in 2000 by Simon Rogerson, Christopher Hulatt and Guy Myles as a fund management company. Through its subsidiaries, it operates in the investment management, venture capital, energy, and real estate industries. [1] [2]

Contents

As of December 2019, Octopus Group has more than 1.5 million customers and manages more than £12bn on behalf of its investors.

Businesses

Octopus Energy

Octopus Energy was established in 2015 as a retail electricity and gas supplier in the UK, and by December 2019, had over 1.35 million domestic and business customers. Under the Octopus Energy Group brand, it has expanded into energy for business and energy services, and licences its customer handling software to other energy suppliers. [3]

Octopus Energy Generation

Octopus Energy Generation owns and manages renewable energy production, particularly in solar and onshore wind. It is one of the largest owners of renewable energy infrastructure in Europe, with £3bn of assets under management. [4] Previously a separate entity within Octopus Group, the company was acquired by Octopus Energy in July 2021. [5] Octopus Energy Generation is the manager of Octopus Renewables Infrastructure Trust, [6] an investment fund which was floated on the London Stock Exchange in December 2019. [7]

Octopus Inheritance Tax Service

Octopus Inheritance Tax Service provides investors a possibility to purchase shares of one or more unquoted UK companies that are contributing to the UK economy growth. Notable investments include Fern Trading Ltd., [8] a £2.8 billion trading company with a concentration on short-term loans to seasoned real estate professionals, as well as the development and management of fiber broadband in underserved areas. In 2020, Vorboss was added to Fern's portfolio of UK broadband network builders, getting £250m in funding. [9] [10]

Octopus Money

Octopus Money was launched in 2023 to offer money coaching and advice to consumers, often through the individual's employer. [11] [12] The business is run by Ruth Handcock, who joined Octopus Investments from Tandem Bank in 2018. [11] The launch of the brand followed the purchase of Hatch Financial Coaching in 2021, [11] and replaced Octopus Wealth, a financial advice business announced in 2018. [13]

Octopus Investments

Octopus Investments is an investment management company which manages a number of investment funds, with some structured as venture capital trusts (VCTs). In 2019, Octopus Investments was the first VCT manager to exceed £1bn of assets managed within its funds. [14] One VTC – Octopus Future Generations VCT – invests in businesses that are helping to build a sustainable planet, empower people, or revitalize healthcare. [15]

Octopus Ventures

Octopus Ventures is a venture capital fund with £1.2bn of funds under management. Notable Octopus Ventures investments include SwiftKey, Eve Sleep, ManyPets (formerly known as Bought By Many), LoveFilm, Graze, and Zoopla. [16]

Octopus Real Estate

Octopus Real Estate (formerly known as Octopus Property) provides finance and investment for care homes, retirement villages, affordable housing, and residential & commercial properties. It was formed in 2019 by the merger of two existing businesses, Octopus Property and Octopus Healthcare, and had £2bn of funds under management in 2019. [17]

Octopus Legacy

Octopus Legacy provides services for people to plan for their death (will writing, life insurance, power of attorney) as well as probate and deceased estate management. [18] The business was founded as Guardian Angel in 2016 by Sam Grice, and Octopus Investments acquired a majority stake in 2022. [19]

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References

  1. Bounds, Andy (12 October 2016). "Octopus Group founders are EY UK Entrepreneurs of the Year". Financial Times. Retrieved 27 February 2020.
  2. "About". Octopus Group. Retrieved 27 February 2020.
  3. "Octopus Energy Group" . Retrieved 8 May 2021.
  4. "About". Octopus Renewables. Retrieved 27 February 2020.
  5. Cotton, Barney (5 July 2021). "FCA clears acquisition of Octopus Renewables by Octopus Energy". Business Leader. Retrieved 7 July 2021.
  6. "Octopus Renewables - Further Investment Management Update". Proactiveinvestors UK. 30 June 2021. Retrieved 7 July 2021.
  7. Thicknesse, Edward (6 December 2019). "New Octopus Renewables trust smashes target in £350m float". City A.M. Retrieved 27 February 2020.
  8. "The outlook for Fern Trading Limited". Octopus Investments. 4 August 2022. Archived from the original on 30 March 2023. Retrieved 10 April 2024.
  9. Jackson, Mark (13 February 2021). "Full Fibre UK ISP Vorboss Acquired by Fern Trading Limited". ISPreview UK. Retrieved 10 April 2024.
  10. "London Tech Week: The capital is being 'held hostage by legacy fibre providers'". London Tech News. 15 June 2023. Retrieved 10 April 2024.
  11. 1 2 3 Hickey, Sally (24 May 2023). "Octopus Group launches money coaching and advice business". FTAdviser. Retrieved 24 May 2023.
  12. "About". Octopus Money. Retrieved 24 May 2023.
  13. Walmsley, Charles (19 December 2018). "Octopus launches restricted advice business". citywire.com. Retrieved 24 May 2023.
  14. Jones, Jonathan (19 February 2019). "Tax-shy investors pour £1bn into Octopus". The Times. Retrieved 27 February 2020.
  15. "Octopus Ventures". Angels Partners. Retrieved 21 November 2023.
  16. "Portfolio". Octopus Ventures. Retrieved 27 February 2020.
  17. "Octopus launches Octopus Real Estate with GBP2 billion FUM". Property Funds World. 8 May 2019.
  18. Mclaughlin, Aimee (31 January 2024). "Octopus Legacy on changing how we talk about death". Creative Review. Retrieved 23 February 2024.
  19. Rach, Sonia (12 December 2022). "Octopus buys tech firm to help people prepare for death". FT Adviser. Retrieved 23 February 2024.