QPE partners with Initiate to support next phase of growth

Queen’s Park Equity (“QPE”) is delighted to announce its investment in Initiate Consultancy (“Initiate”). Initiate is a global leader in market access and HEOR consultancy services for clients across the pharmaceutical, medical device, and diagnostic sectors.

Initiate specialises in supporting clients with services including HTA strategy and submissions, cost-effectiveness & budget-impact modelling, evidence synthesis, payer research, and value communication, among others, delivering data-driven access solutions across more than 50 countries, with a particular focus on oncology and rare diseases.

Founded on a mission to simplify access and demonstrate value across multiple geographies, Initiate has delivered over 130 HTA submissions, achieving a 98% success rate and supporting 80+ global clients. The investment will support Initiate’s next phase of expansion, empowering the leadership team to deepen global market access capabilities, scale service delivery, and pursue complementary acquisitions.

Andrew Mumford, CEO of Initiate commented: “Partnering with QPE represents a pivotal moment for Initiate. Their deep sector expertise and operational support will enable us to further elevate our service offering and expand our global footprint. Together, we are well positioned to deliver even more impactful access solutions for our clients.”

Mark Crowley, Investing at QPE added: “Initiate Consultancy exemplifies everything we seek in an entrepreneur-led company: deep domain expertise, a clear value-creation strategy, and a client-first mindset. We firmly believe that as the demand for robust market access and evidence services grows, Initiate is well-positioned to become a market leader. We are excited to be investing behind Andrew and the team to support their next phase of accelerated growth.”

The QPE investment will be used to support future growth, to help Initiate extend its global reach and broaden its service offering while preserving its autonomy, values, and commitment to quality. Growth will be both organic and through making carefully selected acquisitions.

This partnership demonstrates yet another example of how QPE’s sector-focused, thematic research and direct origination leads to proprietary deal flow, having first met the Initiate shareholders several years ago.

The investment in Initiate represents the first investment from QPE’s £305m Fund II, which was raised earlier in 2025 after just four months of fundraising. QPE Fund II will be invested using the same strategy as Fund I, by engaging directly with founders and entrepreneurs across the education, health & pharma and tech enabled business services sectors, by supporting organic and acquisitive growth and deploying the QPE Value Creation Pillars.

Queen’s Park Equity would like to thank our advisors, including:

Corporate Finance: Alvarez & Marsal
Financial: BDO
Legal: Pinsent Masons
Commercial: BDO