Certus, Blue Mountain's technology capital division, was born with a clear thesis: invest in technology companies that solve real middle-market problems. We describe our approach.
In 2023, Blue Mountain officially launched Certus, our third investment division, dedicated to technology capital. It is not a whim or a trend. It is the natural evolution of a conviction developed over years of active management: technology is not a sector — it is a lever that transforms all sectors.
The decision stems from a practical observation. In every company in our portfolio — logistics, hospitality, industrial services — technology is the improvement lever with the greatest potential impact. But available solutions are designed mostly for large corporations or startups. The middle market — companies with 10 to 100 million in turnover — has specific needs that neither SAP nor a Silicon Valley app serves well.
Certus’s thesis is built around three verticals.
Data and analytics. The Spanish middle market has a data problem. Companies generate enormous amounts of information but most of it sits in Excel spreadsheets or disconnected systems. We invest in companies that help SMEs turn data into decisions.
Process automation. Many SME processes remain manual: invoicing, inventory control, order management. Automation generates cost savings with direct EBITDA impact. We invest in accessible automation solutions for SMEs.
Applied AI. There is an enormous opportunity in AI applied to middle-market problems: logistics route optimisation, demand prediction, predictive maintenance — with models that work at the data volumes an SME actually has.
Certus has specific criteria that differentiate us from traditional venture capital: recurring revenue (minimum 500K ARR), net revenue retention above 100%, solid technical team, addressable but specific market, and real synergy with our portfolio of over eighty companies.
Unlike traditional VC, Certus applies Blue Mountain’s active management model: product validation in our portfolio companies, access to our commercial network, and support in professionalisation — corporate governance, financial control, team management, and strategic planning.
The technology-for-middle-market space is early-stage in Spain. Digital adoption among Spanish SMEs lags the European average. This gap will close over the coming years, driven by competition, regulation, and generational change. Certus was created to capture that opportunity, with Blue Mountain’s patience, operational experience, and network behind it.
Dirk Manuel Martens Jimenez Founder, Blue Mountain Capital
If you wish to explore a potential collaboration or present an investment opportunity, we invite you to contact us. We guarantee absolute confidentiality in all our conversations.