Sam Gray

Managing Partner at Apposite Capital

Panellist

Sam Gray is Managing Partner at Apposite Capital, the specialist private equity firm investing in high impact lower middle market and growth healthcare businesses. Since joining in 2007, he has led a number of investments across the healthcare value chain, spanning pharmaceuticals, medical technology, digital health, and healthcare services, giving him a broad perspective on investing in the healthcare sector.

As Managing Partner, Sam is responsible for Apposite’s strategic development and fundraising. He led the successful raise of Apposite’s latest flagship buyout fund (Fund III), attracting a diverse range of international limited partners, establishing multiple co-investment vehicles, and significantly increasing the firm’s assets under management.

Sam also led the recent introduction of a parallel growth capital strategy in 2026, leveraging Apposite’s excellent track record in growth investing. The growth fund has this year received an anchor commitment of £100m from the British Business Bank, which is the bank’s largest ever commitment.

Sam has over 25 years’ experience in healthcare transactions. He began his career at Deutsche Bank, advising multinational corporates and private equity sponsors on complex transactions, including public takeovers and leveraged buyouts. He subsequently joined UCB, where he focused on strategic product licensing and M&A, including the company’s £2.7 billion acquisition of Celltech.

Beyond his investment work, Sam contributes to the UK’s health innovation ecosystem. He served for several years on the Innovate UK Biomedical Catalyst Major Awards Committee and currently sits on the Awards Committee for the Invention for Innovation Programme, a government-backed initiative supporting translational research in medical devices, diagnostics, and digital health technologies.

Sam holds a degree in Natural Sciences from the University of Cambridge, and an MBA from Harvard Business School.