Our Corporate team has advised a shareholder consortium led by Integral Capital Group on the agreed sale of Sofia-headquartered Graphwise, a leading provider of knowledge graph and semantic AI technology, to Oakley Capital.

The transaction, which is subject to regulatory approvals, will see Oakley Capital acquire Graphwise and partner with the company's founders and management team to support its continued growth. The sale by the consortium marks one of the largest software exits in Bulgaria's history.

Integral Capital Group, PortfoLion Capital Partners, Carpathian Partners and the European Bank for Reconstruction and Development acquired Ontotext in 2022 before leading the subsequent merger with Vienna-based Semantic Web Company in 2024 to create Graphwise. The company provides the semantic backbone for enterprise AI, building knowledge graphs that connect fragmented corporate data and enable AI systems to deliver accurate, explainable and auditable answers. Graphwise now serves more than 200 blue-chip customers worldwide, particularly in regulated industries where AI accuracy is critical.

The Gowling WLG team was led by Corporate Partner Chris Letters, supported by Andreea Serban, Meg Godsell and Will Dudley, with Partners Kate Featherstone and Tom Rank advising on the tax aspects of the transaction. The team worked alongside local counsel in Bulgaria and Austria.

Evtim Chesnovski, Partner at Integral Capital Group, said: "The sale of Graphwise is the culmination of a transformational journey that began with our investment in Ontotext in 2022. Throughout this process, Gowling WLG provided invaluable support in navigating the cross-border complexities of the transaction. We would like to thank the management team, our co-investors and all of our advisers for helping deliver this successful outcome."

Chris Letters said: “This transaction highlights the quality of technology businesses emerging from Central Europe and the strong interest from investors in AI-enabling infrastructure. It has been a privilege to support the shareholder consortium through this highly successful exit, and we look forward to seeing the management team and Oakley Capital build on Graphwise’s strong foundations in the next phase of the company’s growth.”

Gowling WLG's Corporate, Finance and Tax team advises private equity investors, management teams, founders and businesses on domestic and cross-border transactions across a range of sectors, including technology, life sciences, energy and advanced manufacturing. The team is recognised for supporting clients through complex acquisitions, disposals, investments and strategic growth initiatives.