HgT backs fast-growing AI-driven property software platform at valuation exceeding £200 million
LONDON: Hg, the Manager of HgCapital Trust plc (“HgT”), today announced a strategic growth investment in Street Group (“Street”), a leading provider of vertical software and AI solutions to the UK residential property sector.
HgT will invest approximately £7 million in the Manchester-based company, with other institutional clients of Hg investing alongside through the Hg Mercury Fund. The investment values Street at more than £200 million, though specific terms of the transaction were not disclosed.
A Platform Built for Modern Estate Agents
Founded and led by siblings and co-CEOs Tom and Heather Staff, Street has developed an integrated operating system for estate and letting agents that includes its core CRM platform (Street.co.uk), prospecting and lead-generation tool Spectre, and a growing suite of AI-native products including Cortex—which enables customers to build and orchestrate their own AI agents.
Today, the business serves thousands of estate and letting agency branches across the UK and has established itself as one of the fastest-growing and most innovative players in the UK PropTech sector.
Founders Remain at the Helm
Tom and Heather Staff will remain majority controlling shareholders and continue to lead the business following the investment. The partnership with Hg is expected to accelerate product innovation, deepen Street’s AI capabilities, and support the company’s ambition to become the category-defining software and AI platform for UK estate and letting agents.
“We built Street to fundamentally change how estate and letting agents work, and AI is central to that mission,” said Heather and Tom Staff in a joint statement. “In Hg we have found a partner who shares our long-term ambition, our product focus, and brings genuine depth of experience and operational expertise in scaling software and AI businesses. This partnership allows us to invest even more in our products, our technology and our people, while staying true to the culture and obsessive customer focus that have defined Street from the start.”
Hg’s Perspective
Louis Kinsella, Partner at Hg, commented: “Street is exactly the kind of business we love to back. It’s a category leader with a technical edge, loved by its customers, and is deeply embedded in their daily workflows. Heather and Tom are an exceptional founding team who have built something rare, combining genuine product innovation with accelerating growth, as the industry moves towards them and away from legacy solutions. We are excited to support the next phase of their journey.”
Conor Stewart, Principal at Hg, added: “Tom and Heather have built a fantastic business. The depth and ambition of its AI capabilities and its culture of innovation were clear to see as we got to know the business, and we were deeply impressed by the strength of Street’s technology and product leadership. We see a significant opportunity to build on that foundation, leveraging Hg’s capabilities to help Street accelerate its product development to bring even more value to customers.”
HgT’s Financial Position
HgT, whose shares are listed on the London Stock Exchange, provides private and institutional investors the opportunity to participate in all Hg’s investments. Following this latest deployment, HgT’s liquid resources available for future deployment—including all announced transactions, the undrawn bank facility, and the full-year dividend paid on May 12, 2026—are estimated at £278 million, representing 12% of the pro-forma March 31, 2026 NAV of £2.4 billion.
The investment will reduce HgT’s outstanding commitments to invest in Hg transactions to approximately £2.1 billion (87% of the pro-forma March 31, 2026 NAV).
Previous Backing
Street Group was previously backed by Manchester-based PXN Group, a venture capital firm known for supporting high-growth Northern businesses. The company was advised by Alvarez and Marsal on the transaction.
