Venture studio · App operators · Est. Europe
Apps are the asset class. We are the operators.
Evergreen Apps builds, acquires and scales consumer apps — and runs the monetization, traffic and payment infrastructure behind Top-100 App Store publishers.
MRR growth
+306% (top decile)
Retention
D30 24%*
apps built & operated
portfolio downloads
managed ad spend annually
App Store publisher partners
Thesis
The app economy just crossed its most important inflection point.
In 2025, consumers spent $167.4 billion on mobile apps — and for the first time in history, non-game apps out-earned games ($85.6B vs $81.8B), with non-game in-app purchase revenue growing 21% year over year.
Source: Sensor Tower, State of Mobile 2026
Subscriptions now drive roughly 96 cents of every consumer dollar spent in the major app stores. The business model war is over — recurring revenue won.
But supply exploded: nearly 15,000 new subscription apps launch every month, up from around 2,000 in 2022. Only 4.6% of new apps ever reach $10K in monthly revenue within two years, while apps launched before 2020 still hold 69% of all subscription revenue.
Source: RevenueCat, State of Subscription Apps 2026
Translation: distribution, monetization craft and payment economics — not ideas — decide who compounds. That is exactly the infrastructure Evergreen operates.
Capabilities
Growth benchmarks: RevenueCat, State of Subscription Apps 2026
How we engage
Build
We launch our own apps and D2C brands in-house.
Partner
We operate growth and monetization for established publishers, on performance terms.
Invest
We back founders with capital plus our full operating stack, for equity.
Operators first. Investors second. Spectators never.
Research
Compounding beats clever.
If you publish at scale or allocate capital to consumer software — talk to us.