ON THE LINE x BEMI: Zoe Yeo, Headway Capital

Recorded at the British Emerging Manager Institute Summit 2025
Guest: Zoe Yeo, Partner, Headway Capital
Host: Alice Murray, Editor, THE LINE_

Episode Overview
In this episode of On The Line, Alice Murray speaks with Zoe Yeo, Partner at Headway Capital, about the growing importance of emerging managers and independent sponsors in private capital.

Zoe reflects on how Headway has sharpened its focus on backing emerging managers through deal-by-deal investing, and how institutional appetite for this corner of the market has evolved. She also shares her involvement with the British Emerging Manager Institute and why building community is essential to levelling the playing field for new talent.

Whether you’re a fundless sponsor, a first-time fund manager, or an LP exploring this space, this episode offers an insightful look at the people, capital, and conviction fuelling this fast-moving segment of private markets.

What We Cover
🔹 Headway’s refined focus on independent sponsors and emerging managers
🔹 How Fund 5 exceeded expectations and why institutional LPs are increasingly attracted to this market segment
🔹 Independent sponsorship as a destination, not just a stepping stone
🔹 The power of community and Zoe’s work with the British Emerging Manager Institute
🔹 Market outlook: why this might be a better time to invest than many think
🔹 Zoe’s advice for new managers navigating a tough environment:
“Patience, persistence and conviction. And remember, you only need the right LP, not ten of them.”