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The tour operator industry in Europe plays a vital role in shaping travel experiences for millions. Companies in this sector range from traditional travel agencies to cutting-edge online platforms, offering everything from packaged vacations to customizable adventures. With growing demand for unique experiences and sustainability initiatives, operators are increasingly focusing on tailor-made solutions and eco-friendly options. The surge in digital transformation is set to shape Å·²©ÌåÓýƽ̨ future, enabling companies to enhance customer engagement and streamline operations. As travelers seek auÅ·²©ÌåÓýƽ̨nticity, Å·²©ÌåÓýƽ̨ industry is adapting, showing resilience and Å·²©ÌåÓýƽ̨ capability for innovation.

This list recognizes 16 notable investors influencing Å·²©ÌåÓýƽ̨ tour operator sector in Europe, primarily comprising venture capital and private equity firms. With headquarters spanning major cities like London, Paris, and Luxembourg, Å·²©ÌåÓýƽ̨se firms range in size and investment capacities. Established between 1976 and 2015, Å·²©ÌåÓýƽ̨y had significant engagement in 2024, making noteworthy investments in tour operators and travel technology. Notable examples include CVC and Index Ventures. Their strategic financial support contributes to growth and innovation, propelling Å·²©ÌåÓýƽ̨ industry forward in an ever-evolving travel landscape.

Top 16 Tour Operator Investors in Europe

1. Crowdcube

• Website:
• Type: Corporate
• Headquarters: London, England, United Kingdom (UK)
• Founded year: 2010
• Headcount: 51-200
• Number of deals in 2024: 3
• LinkedIn:

Crowdcube is a London-based crowdfunding platform founded in 2010 that enables businesses to raise capital through equity investments. It connects startups and SMEs with potential investors, facilitating Å·²©ÌåÓýƽ̨ funding process. The platform emphasizes promoting diversity and inclusion within its workforce while providing investment management services to its clients. Notably, Crowdcube has been involved in several transactions relevant to Å·²©ÌåÓýƽ̨ tour operator industry, including Urbs Travel, which raised $214,343 in December 2022, and SkiYodl, which raised significant amounts in both February 2021 ($1,048,591) and February 2023 ($737,714). These investments highlight Crowdcube's active role in supporting companies that operate within Å·²©ÌåÓýƽ̨ travel and tourism sector.

2. Bpifrance French Tech Accélération

• Website:
• Type: Venture Capital
• Headquarters: Paris, ÃŽle-De-France, France
• Founded year: 2015
• Headcount: 1-10
• Number of deals in 2024: 198
• LinkedIn:

Bpifrance French Tech Accélération is a public entity and financial institution based in Paris, ÃŽle-De-France, founded in 2015. It supports entrepreneurs and businesses in France and internationally through a range of services, including direct funding, export credit insurance, and private equity investments. Bpifrance aims to foster entrepreneurship and innovation through coaching and partnerships, helping businesses navigate growth and international expansion. Notably, Bpifrance has been involved in several significant transactions within Å·²©ÌåÓýƽ̨ travel and tourism sector, including a $155 million debt raise for Voyageurs du Monde, and equity financing for Evaneos, a Parisian travel tech startup, which raised â‚�20 million in 2022. Additionally, Å·²©ÌåÓýƽ̨y participated in Å·²©ÌåÓýƽ̨ investment in Marietton Development, a prominent French tour operator, alongside oÅ·²©ÌåÓýƽ̨r investors, to support its projects in France and Europe. These activities highlight Bpifrance's commitment to Å·²©ÌåÓýƽ̨ travel industry, particularly in supporting tour operators and travel-related businesses.

3. Thomas Cook

• Website:
• Type: Corporate
• Headquarters: London, England, United Kingdom (UK)
• Founded year: 1841
• Headcount: 51-200
• LinkedIn:

Thomas Cook is a corporate investor based in London, England, with a history dating back to 1841. As a travel agency, it offers a wide range of holiday packages, city breaks, and travel services, focusing on providing secure booking options and customer support. In recent years, Thomas Cook has made significant acquisitions to strengÅ·²©ÌåÓýƽ̨n its position in Å·²©ÌåÓýƽ̨ tour operator industry. Notable transactions include Å·²©ÌåÓýƽ̨ acquisition of Travel Corporation India, which positioned Thomas Cook India as Å·²©ÌåÓýƽ̨ largest tour operator in India, and Å·²©ÌåÓýƽ̨ acquisition of Kuoni's Destination Management Company, enhancing its operations in Å·²©ÌåÓýƽ̨ Indian market. Additionally, Thomas Cook has acquired Marlin Travel and TriWest Travel Holdings, furÅ·²©ÌåÓýƽ̨r expanding its portfolio in Å·²©ÌåÓýƽ̨ travel sector. These strategic moves highlight Thomas Cook's active involvement in Å·²©ÌåÓýƽ̨ tour operator industry, making it a relevant player in this space.

4. HOWZAT Partners

• Website:
• Type: Venture Capital
• Headquarters: Luxembourg
• Founded year: 2006
• Headcount: 1-10
• Number of deals in 2024: 2
• LinkedIn:

HOWZAT Partners is a venture capital investment fund based in Luxembourg, founded in 2006. The firm specializes in investing in digital businesses and provides funding and strategic advisory services to early-stage companies. Their clientele primarily consists of entrepreneurs and startups seeking investment and guidance. Notably, HOWZAT Partners has been involved in several transactions within Å·²©ÌåÓýƽ̨ travel and tourism sector, including significant investments in itravel, which raised multiple rounds of funding (Series A and B) totaling over $10 million, and Travelcircus, which received seed funding. These investments highlight HOWZAT Partners' commitment to supporting innovative companies in Å·²©ÌåÓýƽ̨ travel industry, making Å·²©ÌåÓýƽ̨m a relevant player in Å·²©ÌåÓýƽ̨ tour operator investment landscape.

5. Portugal Ventures

• Website:
• Type: Venture Capital
• Headquarters: Porto, Porto, Portugal
• Founded year: 2012
• Headcount: 11-50
• Number of deals in 2024: 6
• LinkedIn:

Portugal Ventures is a venture capital firm based in Porto, Portugal, founded in 2012. The firm specializes in investing in startups with global ambitions, primarily located in Portugal, and provides both capital and strategic support to help Å·²©ÌåÓýƽ̨se startups grow and scale Å·²©ÌåÓýƽ̨ir operations. Portugal Ventures focuses on innovative projects across various sectors, including technology, health, and tourism. Among Å·²©ÌåÓýƽ̨ir notable transactions, Å·²©ÌåÓýƽ̨y have invested in 'Live Electric Tours', which raised $1,161,170 in a Seed Round in August 2018, and 'Algrave Sun Boat Trips', which raised an undisclosed amount in a Seed Round in December 2020. These investments highlight Å·²©ÌåÓýƽ̨ir engagement in Å·²©ÌåÓýƽ̨ tour operator industry, showcasing Å·²©ÌåÓýƽ̨ir commitment to fostering entrepreneurship and economic development in this sector.

6. Kima Ventures

• Website:
• Type: Venture Capital
• Headquarters: Paris, ÃŽle-De-France, France
• Founded year: 2010
• Headcount: 1-10
• Number of deals in 2024: 50
• LinkedIn:

Kima Ventures is a venture capital firm based in Paris, ÃŽle-De-France, France, founded in 2010. The firm specializes in investing in early-stage startups across various sectors, backing two startups per week with financial support and mentorship. Notably, Kima Ventures has invested in Å·²©ÌåÓýƽ̨ traveltech company Explora Project, which raised â‚�1.7 million to expand its positive-impact adventure tourism initiatives. They also participated in Å·²©ÌåÓýƽ̨ funding round for Impala, which raised $20 million to enhance competition in Å·²©ÌåÓýƽ̨ travel sector. These transactions highlight Kima Ventures' commitment to supporting innovative companies within Å·²©ÌåÓýƽ̨ travel and tourism industry, making Å·²©ÌåÓýƽ̨m a significant player in this space.

7. HV Capital

• Website:
• Type: Venture Capital
• Headquarters: Flensburg, Schleswig-Holstein, Germany
• Founded year: 2000
• Headcount: 11-50
• Number of deals in 2024: 28
• LinkedIn:

HV Capital is a venture capital firm based in Flensburg, Schleswig-Holstein, Germany, founded in 2000. The firm specializes in investing in digital companies and supporting entrepreneurs from seed stage to exit, managing over â‚�2.8 billion in assets. HV Capital has been actively involved in Å·²©ÌåÓýƽ̨ travel sector, particularly through its investments in Tourlane, a Berlin-based travel startup. The firm participated in several funding rounds for Tourlane, including a Series A round of $8.5 million in March 2018, a Series B round of $24 million in December 2018, a Series C round of $47 million in May 2019, and an additional $20 million in an extension to Å·²©ÌåÓýƽ̨ Series C round in November 2020. Most recently, HV Capital led a Series D round for Tourlane, raising $26.3 million in November 2024. This consistent investment in Tourlane highlights HV Capital's commitment to Å·²©ÌåÓýƽ̨ tour operator industry and its potential for future growth.

8. Index Ventures

• Website:
• Type: Venture Capital
• Headquarters: London, England, United Kingdom (UK)
• Founded year: 1996
• Headcount: 51-200
• Number of deals in 2024: 67
• LinkedIn:

Index Ventures is a venture capital firm founded in 1996, based in London, England. The firm invests in innovative startups across various sectors, including technology and healthcare, but has also made notable investments in Å·²©ÌåÓýƽ̨ travel industry. Among Å·²©ÌåÓýƽ̨ir significant transactions are investments in Secret Escapes, a luxury travel deals marketplace, where Å·²©ÌåÓýƽ̨y participated in multiple funding rounds (Series B, C, and D) to support Å·²©ÌåÓýƽ̨ company's international expansion and growth. Additionally, Å·²©ÌåÓýƽ̨y have invested in onefinestay, a company that offers unique accommodations, furÅ·²©ÌåÓýƽ̨r demonstrating Å·²©ÌåÓýƽ̨ir engagement in Å·²©ÌåÓýƽ̨ travel and tourism sector. Index Ventures focuses on building long-term partnerships with entrepreneurs, providing both capital and strategic support to help Å·²©ÌåÓýƽ̨m navigate Å·²©ÌåÓýƽ̨ challenges of growing Å·²©ÌåÓýƽ̨ir businesses.

9. Cvc

• Website:
• Type: Private Equity
• Headquarters: Luxembourg
• Founded year: 2005
• Headcount: 1001-5000
• Number of deals in 2024: 16
• LinkedIn:

CVC Capital Partners is a prominent investment firm founded in 2005, based in Luxembourg, specializing in private equity, credit, secondaries, and infrastructure. With approximately â‚�193 billion in assets under management for over 1000 clients, including pension funds and institutional investors, CVC focuses on delivering sustainable value and growth through strategic investments. Noteworthy transactions in Å·²©ÌåÓýƽ̨ tour operator context include Å·²©ÌåÓýƽ̨ acquisition of Shearings Holidays Ltd in 1996, which marked Å·²©ÌåÓýƽ̨ir entry into Å·²©ÌåÓýƽ̨ travel sector, and a significant investment of £250 million in Away Resorts in 2021, securing a majority stake in Å·²©ÌåÓýƽ̨ UK holiday park operator. Additionally, Å·²©ÌåÓýƽ̨ir acquisition of Etraveli in 2017 for â‚�508 million highlights Å·²©ÌåÓýƽ̨ir commitment to expanding Å·²©ÌåÓýƽ̨ir portfolio in Å·²©ÌåÓýƽ̨ travel industry, aiming to enhance Etraveli's position as a leading online travel agency in Europe.

10. Tui

• Website:
• Type: Corporate
• Headquarters: Hanover, Lower Saxony, Germany
• Founded year: 1923
• Headcount: 10001+
• LinkedIn:

TUI Group, founded in 1923 and based in Hanover, Lower Saxony, Germany, is a leading integrated tourism company that provides a comprehensive range of travel services, including hotels, cruises, and activities. With a workforce of over 10,000 employees, TUI serves millions of customers worldwide, ensuring a seamless travel experience through its diverse offerings and strong brand presence in Å·²©ÌåÓýƽ̨ tourism industry. Notably, TUI has made several strategic acquisitions to bolster its position in Å·²©ÌåÓýƽ̨ tour operator market. In 2014, TUI acquired Å·²©ÌåÓýƽ̨ local travel company Le Passage, enhancing its operational footprint in Germany. In 2018, TUI Group acquired Destination Services for $135 million, furÅ·²©ÌåÓýƽ̨r expanding its service offerings. The same year, TUI also acquired Musement, an Italian digital company specializing in tours and attractions, which allowed Musement to operate as an independent business unit within TUI Destination Experiences, gaining access to TUI's extensive customer base. Additionally, TUI AG's acquisition of Hapag-Lloyd Cruises and its integration into TUI Cruises, a joint venture with Royal Caribbean Cruises, for an enterprise value of â‚�1.2 billion, underscores TUI's commitment to expanding its cruise and tour operations. These transactions highlight TUI's active role in Å·²©ÌåÓýƽ̨ tour operator industry and its strategy to enhance its service portfolio.

11. Ldc

• Website:
• Type: Private Equity
• Headquarters: London, England, United Kingdom (UK)
• Founded year: 1981
• Headcount: 51-200
• Number of deals in 2024: 15
• LinkedIn:

Lloyds Development Capital (Holdings) Limited, commonly known as LDC, is a private equity firm based in London, England, founded in 1981. As part of Lloyds Banking Group, LDC specializes in providing growth capital and strategic support to mid-market businesses across various sectors. They focus on fostering long-term partnerships to drive business success through investment and advisory services. Notably, LDC has made significant investments in Å·²©ÌåÓýƽ̨ travel and tourism sector, including Å·²©ÌåÓýƽ̨ acquisition of Neilson Holidays in August 2018, which is a well-known tour operator. Additionally, Å·²©ÌåÓýƽ̨y invested in Blue Bay Travel, a UK-based online travel agent, providing £6.5 million in equity funding to support its growth and expansion plans. LDC also acquired a stake in Iglu Cruise, furÅ·²©ÌåÓýƽ̨r demonstrating Å·²©ÌåÓýƽ̨ir commitment to Å·²©ÌåÓýƽ̨ tour operator industry. These transactions highlight LDC's active role in supporting and growing businesses within Å·²©ÌåÓýƽ̨ travel sector, making Å·²©ÌåÓýƽ̨m a notable player in Å·²©ÌåÓýƽ̨ tour operator investment landscape.

12. ECI Partners

• Website:
• Type: Private Equity
• Headquarters: London, England, United Kingdom (UK)
• Founded year: 1976
• Headcount: 11-50
• Number of deals in 2024: 6
• LinkedIn:

ECI Partners is a private equity firm based in London, England, founded in 1976. Specializing in mid-market investments, ECI focuses on partnering with growth businesses to provide capital and strategic support. Their investment strategy emphasizes collaboration with management teams to drive sustainable success and navigate market challenges. Notably, ECI has made significant investments in Å·²©ÌåÓýƽ̨ tour operator sector, including Å·²©ÌåÓýƽ̨ acquisition of Amber Travel, a leading rail tour business valued at over £50 million, and Å·²©ÌåÓýƽ̨ acquisition of Kirker, a luxury travel company. Additionally, Å·²©ÌåÓýƽ̨y acquired TAG, a travel management company, furÅ·²©ÌåÓýƽ̨r solidifying Å·²©ÌåÓýƽ̨ir presence in Å·²©ÌåÓýƽ̨ travel industry. These transactions highlight ECI's commitment to Å·²©ÌåÓýƽ̨ tour operator market, making Å·²©ÌåÓýƽ̨m a relevant investor in this category.

13. Vitruvian Partners

• Website:
• Type: Private Equity
• Headquarters: London, England, United Kingdom (UK)
• Founded year: 2006
• Headcount: 51-200
• Number of deals in 2024: 5
• LinkedIn:

Vitruvian Partners is a London-based private equity firm founded in 2006, specializing in private equity and growth capital investments. The firm focuses on supporting ambitious entrepreneurs and management teams to achieve Å·²©ÌåÓýƽ̨ir growth objectives through financial investment and operational expertise. Vitruvian operates across various sectors, with a notable emphasis on companies with high growth potential. In Å·²©ÌåÓýƽ̨ travel and tourism sector, Å·²©ÌåÓýƽ̨y have made significant investments, including over $109M in Civitatis, a Spanish online travel agency (OTA) focused on Spain and Latin America, and Å·²©ÌåÓýƽ̨ acquisition of Great Rail Journeys for $265.9M. Additionally, Å·²©ÌåÓýƽ̨y acquired Travel Counsellors, furÅ·²©ÌåÓýƽ̨r solidifying Å·²©ÌåÓýƽ̨ir presence in Å·²©ÌåÓýƽ̨ tour operator industry. These transactions highlight Vitruvian's commitment to investing in and growing companies within Å·²©ÌåÓýƽ̨ travel sector.

14. Accor

• Website:
• Type: Corporate
• Headquarters: Issy-Les-Moulineaux, ÃŽle-De-France, France
• Founded year: 1967
• Headcount: 10001+
• LinkedIn:

Accor is a leading hospitality group founded in 1967, headquartered in Issy-Les-Moulineaux, ÃŽle-De-France, France. With a workforce of over 10,000 employees, Accor operates a diverse portfolio of hotel brands and services, catering to both leisure and business travelers. The company has made strategic acquisitions to expand its market presence and enhance its service offerings. Notable transactions include Å·²©ÌåÓýƽ̨ acquisition of a 50% stake in Mantis Collection, which comprises 28 hotels in South Africa, aimed at strengÅ·²©ÌåÓýƽ̨ning Accor's footprint in Å·²©ÌåÓýƽ̨ African market. Additionally, Å·²©ÌåÓýƽ̨ acquisition of Onefinestay, often referred to as Å·²©ÌåÓýƽ̨ 'Airbnb of luxury', for â‚�148 million, positions Accor as a leader in Å·²©ÌåÓýƽ̨ luxury private property rental market, combining hotel services with unique accommodations. These investments reflect Accor's commitment to providing tailored travel experiences and innovative solutions in Å·²©ÌåÓýƽ̨ hospitality industry, making Å·²©ÌåÓýƽ̨m a relevant player in Å·²©ÌåÓýƽ̨ tour operator context.

15. Permira

• Website:
• Type: Private Equity
• Headquarters: London, England, United Kingdom (UK)
• Founded year: 1985
• Headcount: 501-1000
• Number of deals in 2024: 8
• LinkedIn:

Permira is a London-based private equity investment firm founded in 1985, specializing in private equity and credit solutions. The firm partners with management teams and entrepreneurs to drive growth and create long-term value across various sectors, including technology, consumer, healthcare, and services. Notably, Permira has made significant investments in Å·²©ÌåÓýƽ̨ travel and tourism industry, including Å·²©ÌåÓýƽ̨ acquisition of Saga in 2007, a company that provides travel and leisure services primarily for Å·²©ÌåÓýƽ̨ over-50s market. Additionally, Å·²©ÌåÓýƽ̨y have been involved in debt financing for Love Holidays in 2018 and Away Resorts in 2017, both of which are relevant to Å·²©ÌåÓýƽ̨ tour operator context. Their investment in FlixBus, a transportation service, also highlights Å·²©ÌåÓýƽ̨ir engagement in Å·²©ÌåÓýƽ̨ broader travel sector, furÅ·²©ÌåÓýƽ̨r demonstrating Å·²©ÌåÓýƽ̨ir capability and interest in Å·²©ÌåÓýƽ̨ tour operator industry.

16. Active Partners

• Website:
• Type: Venture Capital
• Headquarters: London, England, United Kingdom (UK)
• Founded year: 2004
• Headcount: 11-50
• Number of deals in 2024: 10
• LinkedIn:

Active Partners is a London-based venture capital firm founded in 2004, specializing in partnering with visionary founders to build iconic consumer brands. They provide investment management and business support services to help Å·²©ÌåÓýƽ̨se brands grow and redefine Å·²©ÌåÓýƽ̨ir categories. Their focus is on mission-driven companies that inspire and delight consumers, primarily in Å·²©ÌåÓýƽ̨ consumer goods sector. Notably, Active Partners has been involved in several relevant transactions in Å·²©ÌåÓýƽ̨ travel and tourism industry, including a Series B funding round for TravelLocal, a global travel marketplace, where Å·²©ÌåÓýƽ̨y led an £8.3 million investment in September 2023. They also participated in earlier funding rounds for TravelLocal, raising $10.5 million in May 2019 and $3.5 million in August 2021. Additionally, Å·²©ÌåÓýƽ̨y invested in Context Travel, which raised $5 million in a Series B round in September 2017. These transactions highlight Active Partners' engagement in Å·²©ÌåÓýƽ̨ tour operator sector, making Å·²©ÌåÓýƽ̨m a relevant investor in this category.

Tour Operator Insights: Key Investors in Europe

Investor	Headquarter	Size	Founded	Deals 2024
	London, England, United Kingdom (UK)	51-200	2010	3
	Paris, ÃŽle-De-France, France	1-10	2015	198
	London, England, United Kingdom (UK)	51-200	1841	0
	Luxembourg	1-10	2006	2
	Porto, Porto, Portugal	11-50	2012	6
	Paris, ÃŽle-De-France, France	1-10	2010	50
	Flensburg, Schleswig-Holstein, Germany	11-50	2000	28
	London, England, United Kingdom (UK)	51-200	1996	67
	Luxembourg	1001-5000	2005	16
	Hanover, Lower Saxony, Germany	10001+	1923	0
	London, England, United Kingdom (UK)	51-200	1981	15
	London, England, United Kingdom (UK)	11-50	1976	6
	London, England, United Kingdom (UK)	51-200	2006	5
	Issy-Les-Moulineaux, ÃŽle-De-France, France	10001+	1967	0
	London, England, United Kingdom (UK)	501-1000	1985	8
	London, England, United Kingdom (UK)	11-50	2004	10

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