Duncan Ramsay

Duncan Ramsay is a Partner at ECI Partners, a UK growth-focused mid-market private equity firm. ECI describes his role as split between assessing new deals and supporting portfolio companies on value creation as part of its Commercial Team. He is also a member of ECI’s ESG Committee and is responsible for bringing together the firm’s technology and data experience and advisory relationships.

His route into private equity was not traditional. Ramsay studied psychology, then worked in corporate roles in his native New Zealand, including a graduate programme at Telecom New Zealand, where he first encountered strategy work and consultants. After moving to London, he joined PwC’s deals strategy team, working on private equity deals and growth projects with PE-backed portfolio companies.

Ramsay joined ECI in 2017 and was promoted to Partner in January 2021. ECI said at the time that he was a member of the Commercial Team focused on technology and data, and that he had been heavily involved in investments including Mobysoft, CPOMS, Bionic, Peoplesafe, 4ways, Auction Technology Group, and Arkessa.

In 2023, Real Deals named Ramsay a Future 40 Mid-Market Investment Leader, highlighting his value-creation work with Bionic, including expansion into insurance and finance and digital improvements to the customer journey and marketing efficiency.

• ECI’s stated focus is “growth, resilience and fantastic management teams,” investing in growth businesses valued up to £350m.
• The firm does not describe itself as a seed or angel investor; it is a private equity investor backing established growth companies through majority and minority structures.
• ECI focuses on selected subsectors rather than broad generalist coverage: Cloud & Digital, Data, Financial Services, GRC, HealthTech, HR & Edtech, and Travel.
• Ramsay’s individual edge is in technology, data, AI, and commercial value creation. His published work emphasizes whether technology supports business strategy, whether AI creates defensibility or disruption risk, and whether management teams are AI-forward rather than resistant to change.
• In AI-related diligence, Ramsay says investors assess the subsector and business model first, then test customer embeddedness, trust, retention, pricing power, and the company’s ability to turn AI into product, operational, or revenue upside.
• ECI’s approach is hands-on post-investment: helping with M&A, market entry, employee engagement, tech scalability, product strategy, data, AI, ESG, and go-to-market improvements.