14 January 2025

FPE invests in Clearstate to support international expansion in medtech data.

The investment comes from FPE Fund III and will support Clearstate as it expands its geographical reach and go to market capabilities.

£185M

Clearstate is a specialist research and data provider that delivers country level intelligence for the medtech industry. Formerly part of The Economist Group, the firm serves major global medtech clients.

FPE has acquired a stake in Clearstate, backing the specialist B2B medtech research provider for its next phase of global expansion. The capital comes from FPE Fund III, which closed at £185m in May 2022. Clearstate was previously housed within The Economist Group. Led by CEO Ivy Teh, the firm provides proprietary country level data and strategic insights to major medical technology companies operating in emerging markets. FPE plans to help the management team broaden geographical coverage and invest further in go to market capabilities. The transaction marks the eighth deployment from FPE's third specialist fund.

From the founder

"We are delighted to be partnering with FPE. Their proven expertise in scaling B2B data businesses will be instrumental as we work together to enhance our datasets, broaden our geographical reach, and deliver even greater value to our customers while accelerating our growth."

Ivy Teh

CEO at Clearstate

Investor perspective

"Clearstate is a highly compelling business that aligns perfectly with FPE’s expertise in supporting B2B data and information companies. Operating in a large and dynamic market, Ivy and her team have built Clearstate into a leading provider of essential market data. We are genuinely excited to partner with Ivy and her team, supporting their vision and helping to unlock the significant growth potential ahead."

Henry Sallitt

Managing Partner, FPE