Matt Upton
Partner
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- Full Name
- Matt Upton
- Title
- Partner
- Firm
- Liberty Corporate Finance
- Firm Type
- Corporate finance adviser to management teams in private-equity transactions; former private equity investor
- Investment Stage
- Growth capital, management buy-outs, equity release, and buy-and-build transactions during prior investment roles
- Check Size
- Former Heligan scope was typically £5 million to £20 million equity investments
- Target Company Profile
- High-growth, entrepreneurially led businesses and management teams navigating private-equity transactions
- Sector Focus
- Private equity transactions broadly; prior Heligan focus included National Security, Crime Prevention, Public Safety, and security technology
- Geographic Focus
- UK and international private-equity transactions; prior Heligan investment reach included UK, Europe, Australia, Canada, USA, and New Zealand
- Location
- Birmingham, England, United Kingdom
Background
Matt Upton is a Partner at Liberty Corporate Finance, an independent corporate finance adviser that works exclusively with management teams on private-equity transactions and incentive arrangements. Liberty’s profile for Upton says he uses experience from “all sides of the fence” to advise management teams as they navigate the private-equity landscape.
He began his career in corporate finance at Andersen and Deloitte, then became a Partner leading EY’s Midlands corporate finance business. He later spent three years as CEO of a privately owned pharma-services business before moving into private equity.
Upton spent 10 years as a Partner at Livingbridge, where Liberty says he helped raise and invest three funds. Companies House filings show Matthew David Grosvenor Upton was appointed a member of Livingbridge EP LLP on 1 January 2018 and ceased to be a member on 25 November 2021; MarketScreener also records him as formerly a Livingbridge Partner and as having worked at Ernst & Young.
After Livingbridge, Upton joined Heligan-related entities in 2023. Companies House records show appointments to GPE Capital Partners LLP on 18 October 2023 and Heligan Investments LLP on 1 December 2023, with both appointments ending on 31 August 2025. His current public profile and LinkedIn list him with Liberty Corporate Finance.
Investment Thesis & Focus
- Upton’s current work is advisory rather than fund investing: Liberty says it “works exclusively with management teams” to help them through private-equity incentive deals and relationships with investors.
- His stated current angle is practical PE navigation for management teams, drawing on his prior roles as corporate finance adviser, company CEO, board adviser, and private equity partner.
- During his Heligan period, the relevant investment focus was security technology: Heligan says it seeks “market leading high-growth security technology businesses” in National Security, Crime Prevention, and Public Safety.
- Heligan’s published investment criteria specify typical equity investments of £5 million to £20 million for growth and development capital, management buy-outs, equity release, and buy-and-build strategies.
- Heligan’s approach emphasizes majority or significant minority stakes, deep sector expertise, high-level security clearances, and support through strategic insight, governance, recruitment, commercial introductions, and international expansion.
Notable Investments
- Upper Street Events — Livingbridge-backed management buy-out of a UK B2C events organiser; Matt Upton was quoted by Livingbridge on the company’s audience engagement and event-sector insight.
- Livingbridge funds — Upton spent 10 years as a Livingbridge Partner, where he helped raise and invest three funds.
- Landguard Systems — Heligan portfolio company providing intelligence, surveillance, target acquisition, reconnaissance, and software-defined radio systems; Heligan announced a sale to Chemring Group in July 2025, its first exit from its maiden fund.
- Ranger Fire and Security — Liberty advised Ranger’s management team on Inflexion’s 2026 investment; Upton was named as Partner on the transaction and quoted on supporting the management team through the deal.
- Heligan Investments portfolio — During Upton’s Heligan period, the firm’s portfolio focus included businesses in ballistics, digital forensics and cyber security, intelligence-led security, vulnerability research, predictive data analytics, precision forensic instruments, and ultra-high-vacuum systems.
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