Lyceum Capital Invests in Wireless Innovation, Emphasizing Early-Stage Growth of the IoT Market

Simon Hitchcock, partner, Lyceum Capital

Lyceum Capital has attracted media attention recently. On August 16, IoT Now reported that the firm had invested in customer‑contact specialist Sabio, which has built a €35 million war chest. CEO Andy Roberts shared the company’s spending plans. A week later, Lyceum announced a new investment in Wireless Innovation.

In this interview, Jeremy Cowan of IoT Now speaks with Simon Hitchcock, partner at Lyceum, about the growing interest in the Internet of Things.

(Also see: Lyceum Capital buys IoT connectivity provider Wireless Innovation and backs new expansion.)

IoT Now: What was your first investment in the Internet of Things?

Simon Hitchcock: Several of our portfolio companies—such as TotalMobile and Isotrak—operate within the broader IoT ecosystem. Wireless Innovation is our first investment focused solely on IoT connectivity.

IoT Now: What persuaded you to invest now?

SH: We’ve monitored the IoT connectivity market for years, seeking the right opportunity. Wireless Innovation presented an attractive prospect: a proven team delivering double‑digit organic growth and the capacity to accelerate through strategic acquisitions in a fragmented landscape.

IoT Now: What was it about Wireless Innovation that singled them out for you?

SH: CEO and founder Phil Rouse has driven impressive organic growth. The company’s robust connectivity‑management platform, comprehensive managed‑services offering, and broad client base across multiple verticals made it a standout.

IoT Now: How much have you invested and what’s it for? Acquisitions? If so, what kind?

SH: Lyceum Capital has committed £20 million (€21.7 million) to a buy‑and‑build strategy. We plan to acquire complementary businesses to broaden our geographic and sector reach.

IoT Now: Is this a fixed‑term or open‑ended investment? If fixed, for how long? If open, what are your objectives?

SH: We’re a long‑term investor, typically holding portfolio companies for at least five years. Our goal is to position Wireless Innovation as a market leader.

IoT Now: What do you look for in IoT investments? Are there any golden rules?

SH: We prioritize businesses with high recurring revenues, mission‑critical use cases, strong organic growth, and healthy gross margins. IP ownership and added‑value services also matter.

IoT Now: Do you plan further IoT / M2M investments in the near term?

SH: We intend to make multiple acquisitions for Wireless Innovation, both domestically and internationally, in the coming years.

IoT Now: Do you see other investors eyeing the Internet of Things? If so, are they larger or smaller investors?

SH: The IoT market’s growth attracts a diverse mix of investors, from large firms to nimble players.

IoT Now: How are IoT / M2M services and technologies viewed by investors?

SH: The market remains in its early stages, but it has advanced considerably. We see significant short‑, medium‑ and long‑term growth as costs fall and use cases expand.

Jeremy Cowan, editorial director of IoT Now and VanillaPlus, was talking to Simon Hitchcock, partner at Lyceum Capital.