Hg invests £7M in Manchester proptech Street Group at £200M+ valuation
What's the deal? HgDealroom has a profile for this one. Try Dealroom → has invested about £7 million in Street Group, a Manchester-based provider of software and AI tools for the UK residential property sector. The growth round, led by Hg through its Hg Mercury Fund and HgCapital TrustDealroom has a profile for this one. Try Dealroom →, values Street at more than £200 million. Terms were not otherwise disclosed.
What does Street do? Founded by siblings and co-chief executive officers Tom and Heather Staff, the company builds an operating system for estate and letting agents. It spans a core CRM platform, lead-generation tool Spectre, and AI products including Cortex, which lets customers build their own AI agents.
Why now? Street serves thousands of agency branches across the UK and is positioning itself as the industry shifts away from legacy software. The valuation marks a sharp step-up from its earlier backing by Manchester venture firm PXN GroupDealroom has a profile for this one. Try Dealroom →.
What's the endgame? The founders remain majority controlling shareholders and will continue to lead the business. Hg's capital is earmarked to accelerate product development, deepen Street's AI capabilities, and support its aim to become the category-defining platform for UK agents.
"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," Heather and Tom Staff said in a joint statement.
The investor view: Louis Kinsella, a partner at Hg, called Street "a category leader with a technical edge, loved by its customers." The deal draws on HgT's liquid resources, estimated at £278 million, or 12% of its pro-forma net asset value of £2.4 billion as of March 31, 2026.
The signal: Vertical software firms embedding AI into daily workflows are drawing private equity interest even at modest cheque sizes. For Hg, a £7 million growth stake in a founder-led proptech reflects a bet that AI-native tools will displace incumbent property software.
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Image credit: Richard Heyes
