/Investors

DBAG

Private equityoperating company · company profile

Frankfurt am Main · Growth · 64 people tracked

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Investment thesis

DBAG invests in established mid-market companies with proven, scalable business models and strong market positions, primarily in the German-speaking DACH region and selectively in northern Italy within sectors where it has deep experience. It targets enterprise values of roughly EUR 50-250 million, with fund structures allowing deals up to EUR 400 million. Traditional focus areas include mechanical and plant engineering, automotive supply, industrial services and components, expanding into environment/energy/infrastructure, software and healthcare. Typical situations include family-business succession, group spin-offs, secondary buy-outs and growth capital, structured as majority stakes or minority/quasi-equity, backing management buy-outs (MBOs) and buy-ins (MBIs) alongside its industry-expert network.

Source: firm website, verified Sep 27, 2026.

Stage
Growth
HQ
Frankfurt am Main, DE
Leads rounds
Leads
Instruments
Equity
Last 12 months
1 investment
Tracked investments
54

Team · 64 people

from the firm's website

What they invest in

from 39 of 54 portfolio companies

Advanced Manufacturing ×15Hardware ×11Enterprise Software ×8Cleantech ×6SaaS ×6Energy ×4Fintech ×4Logistics & Supply Chain ×4

HQs:Germany×28Italy×3Austria×1Switzerland×1Sweden×1

Investments · 54 tracked

founders shown can be your intro path

By year:2025 · 12023 · 12021 · 12016 · 14 dated

Dantherm Groupdanthermgroup.comin✓ verified

Dantherm Group manufactures climate control solutions including heating, cooling, drying, and ventilation systems for commercial, industrial, military, and residential applications.

Advanced ManufacturingCleantechClimate TechEnterprise SoftwareHardwareStockholm, SE

Co-investorsProcuritas

Akquinetakquinet.comin

AKQUINET is a German IT services and consulting company that provides business software implementation (Microsoft, SAP, Infor), custom software development, and managed IT services operated from its own certified data centers.

Cloud ComputingEnterprise SoftwareSaaS

Co-investorsDeutsche Beteiligungs AG

AOEaoe.comin

AOE is a digital consultancy and technology services firm that provides strategic consulting, software development, and AI integration to build custom digital products and modernize clients' system landscapes.

AI & Machine LearningEnterprise SoftwareSaaS

Co-investorsDeutsche Beteiligungs AGLEA Partners

Avrio Energieavrio-energie.deMay 2023

AVRIO Energie GmbH is active in the biogas market as a strategic investor focused on the generation, trading, and distribution of energy from renewable raw materials.

CleantechClimate TechEnergy

Co-investorsDeutsche Beteiligungs AG

Braun Connectivity Solutionskabelkonfektion.comin

Dieter BRAUN GmbH provides cable assembly (Kabelkonfektion) and lighting technology solutions, supporting customers across the full production process.

Advanced ManufacturingHardwareIoT

Co-investorsDeutsche Beteiligungs AG

Bugbountybugbounty.chin𝕏

Bug Bounty Switzerland runs a bug bounty and crowdsourced security testing platform that connects organizations with ethical hackers to identify vulnerabilities.

Cybersecurity

Florian Badertscher(Founder)in

Co-investorsDeutsche Beteiligungs AG

Cartonplastcartonplast.comin

Cartonplast manufactures reusable plastic pallets, layer pads, and trays for food and beverage industry secondary packaging and logistics.

Advanced ManufacturingCircular EconomyLogistics & Supply ChainNew Materials

Co-investorsDeutsche Beteiligungs AG

Cloudflightcloudflight.ioin𝕏

Cloudflight is a European software consulting and development company that builds business-critical software solutions and digital transformation services for enterprise clients.

AI & Machine LearningCloud ComputingDeveloper ToolsEnterprise Software

Co-investorsDeutsche Beteiligungs AG

Congateccongatec.comin

congatec develops and markets embedded computer boards, computer-on-modules, and related technical services for building custom embedded computing platforms.

HardwareIoTSemiconductorsDeggendorf, DE

Co-investorsDeutsche Beteiligungs AG

Daidai.dein𝕏

Deutsches Aktieninstitut is a German industry association and think tank representing listed companies and capital market participants, focusing on corporate governance, company law, and financial market regulation.

Fintech

Co-investorsDeutsche Beteiligungs AG

Danthermdantherm.com

Heating, cooling, drying, ventilation and air purification technology

Co-investorsDeutsche Beteiligungs AG

DBAG Italiadbagitalia.com

Itelyum is a European circular economy company specializing in the recycling of hazardous liquid waste and used oil regeneration, with operations across 25 facilities and expertise in solvent purification and industrial waste management.

Advanced ManufacturingCircular EconomyCleantechConsumerNew MaterialsSector AgnosticMilan, IT

Co-investorsDeutsche Beteiligungs AG

Deutsche Beteiligungs AGdbag.dein

Deutsche Beteiligungs AG is a private equity and venture capital investor focused on mid-market companies in German-speaking countries and Italy, primarily investing in industrial, software, healthcare, and infrastructure sectors with enterprise values between €50–250 million.

Enterprise SoftwareFrankfurt am Main, DE

Dirkdirk.orgin

DIRK – Deutscher Investor Relations Verband is a German professional association for investor relations that connects listed companies with capital markets.

Fintech

Co-investorsDeutsche Beteiligungs AG

ELF Capital Groupelfcapital.dein

ELF Capital manages credit funds that provide flexible, tailored financing solutions to companies, owners, investors, and management teams.

Fintech

Christian Fritsch(Founding Partner)in

Co-investorsDeutsche Beteiligungs AG

evidiaevidia.de

Evidia Group operates radiology, nuclear medicine, and radiation therapy practices, providing diagnostic imaging and treatment for patients.

HealthtechMedical Devices

Co-investorsDeutsche Beteiligungs AG

Firianmultimon.info

Firian designs, plans, installs, and maintains fire-protection systems for buildings across Europe, formed by uniting the fire-safety specialists ABBS, MULTIMON, and TBS under one brand.

Advanced ManufacturingConstruction TechKirchheim bei München, DE

Co-investorsDeutsche Beteiligungs AG

Foundationdbag-stiftung.de

Charitable foundation of Deutsche Beteiligungs AG, established in 2010 to support charitable and philanthropic causes, focusing on children and youth with difficult starting conditions and aiding employees of the firm's portfolio companies in hardship.

Impact & Social GoodFrankfurt am Main, DE

Co-investorsDeutsche Beteiligungs AGPantera Capital

Great Lengthsgreatlengths.comin

Great Lengths manufactures premium human-hair extensions using an Italian craftsmanship process, with keratin-bond and tape-in application systems for salons and their clients.

Advanced ManufacturingConsumerWellness & FitnessRome, IT

Matteo Antonino(Co-founder)Sofia Venditti(Co-founder)

Co-investorsDeutsche Beteiligungs AG

Hausheldhausheld.de

Hausheld operates smart metering systems for municipal utilities (Stadtwerke) as a complete metering-as-a-service offering, handling installation, investment, and rollout of smart meter technology across a city.

CleantechEnergyIoT

Bouke Stoffelsma(Vorstand (Board Member))

Co-investorsDeutsche Beteiligungs AG

Hipp Präzisionstechnikhipp-praezisionstechnik.dein

Hipp is a precision engineering manufacturer that produces custom, high-quality technical components made to customer specifications.

Advanced ManufacturingHardware

Co-investorsDeutsche Beteiligungs AG

HIPP Technology Grouphipp-technologygroup.comin

Hipp Technology Group is a holding of companies specializing in precision machining and manufacturing, producing precision-turned and milled components and orthopedic and dental implants and instruments.

Advanced ManufacturingHardwareMedical DevicesKolbingen, DE

Co-investorsDeutsche Beteiligungs AG

inexioinexio.netin

inexio builds and operates fiber-optic internet infrastructure, providing home broadband with speeds up to 1,000 Mbit/s to private customers.

HardwareMedia & Entertainment

Co-investorsDeutsche Beteiligungs AG

Invest Europeinvesteurope.euin

Invest Europe is a membership association for the private equity and venture capital industry, offering members personalised content, training courses, and events.

Co-investorsDeutsche Beteiligungs AGInnova Capital Sp. z o.o.Inven Capital

Itelyumitelyum.comin𝕏Aug 2021

Itelyum is a European waste management and recycling company specializing in complex hazardous waste streams including waste oil regeneration, solvent purification, and industrial waste recycling.

Advanced ManufacturingCircular EconomyCleantech

Co-investorsDeutsche Beteiligungs AG

JCKjck.de

JCK is a family-owned holding company originating from a hat manufacturer in the Artland region that holds stakes in businesses worldwide, focused on the sport, fashion, and promotional products segments.

Consumer

Co-investorsDeutsche Beteiligungs AG

MAITmait.dein

MAIT provides digital solutions for manufacturing and trade companies, covering product lifecycle management (from product development through production to service) and core business processes such as sales, purchasing, warehousing, production planning, and finance.

Advanced ManufacturingCloud ComputingEnterprise Software

Co-investors3i GroupDeutsche Beteiligungs AG

MTWHmtwh.it

Manufacturer of metal applications for the luxury goods industry

Co-investorsDeutsche Beteiligungs AG

Netzkontornetzkontor-nord.dein

Netzkontor Nord is a service provider for the expansion of fiber-optic, electricity, and heating networks, offering network planning, route securing, permitting, and related infrastructure services.

Construction TechEnergySaaS

Co-investorsDeutsche Beteiligungs AG

Oechsler AGoechsler.comin

OECHSLER AG is a manufacturing company based in Europe that works with material suppliers to reduce product carbon footprints by sourcing more environmentally friendly materials, as the company reports that over 85% of its emissions stem from material sourcing.

Advanced ManufacturingClimate TechHardwareNew Materials

Co-investorsDeutsche Beteiligungs AG

Operasanoperasan.de

operasan is a German company that operates nephrology and dialysis centers, providing outpatient treatment for patients with kidney disease across 30 locations.

Digital HealthHealthtech

Co-investorsDeutsche Beteiligungs AGBarings BDC

Polytech Health & Aestheticspolytechhealth.comin𝕏Sep 2016

POLYTECH Health & Aesthetics is a German manufacturer of silicone breast and body implants used in breast augmentation, reconstruction, and body contouring procedures.

HardwareHealthtechMedical Devices

Co-investorsDeutsche Beteiligungs AG

ProMikpromik.com

Programming and test solutions in electronics manufacturing

Co-investorsDeutsche Beteiligungs AG

ProXESproxes.comin

Proxes manufactures industrial processing machinery for the food, beverage, pharmaceutical, and cosmetics industries.

Advanced ManufacturingCleantechFoodTechHardwareHameln, DE

Co-investorsCapvis AGDeutsche Beteiligungs AG

Schülerhilfeschuelerhilfe.de

Schülerhilfe is a German tutoring institute offering after-school academic support in subjects such as math, German, English, sciences and languages, delivered in small groups of three to five students or as one-on-one lessons, in person or online.

EdTech

Co-investorsDeutsche Beteiligungs AGLevine LeichtmanParagon PartnersOakley

Silbitzsilbitz-group.com

The Silbitz Group operates iron and steel foundries in Europe that cast precision products weighing up to 120 tonnes from recycled material, including hub components for wind turbines and axle housings for trains.

Advanced ManufacturingEnergyNew Materials

Co-investorsDeutsche Beteiligungs AG

Solvaresfastleansmart.comin

Solvares provides field service management software that uses an optimization algorithm (POWEROPT) for automated dispatching, AI-based route optimization, and mobile field service apps.

AI & Machine LearningLogistics & Supply ChainSaaS

Co-investorsDeutsche Beteiligungs AG

Solvaressolvares.com

Solvares Group is a holding company of software businesses focused on resource and route planning, aiming to reduce dispatch times, driving distances, paper use, and CO2 emissions while improving first-time-fix rates.

Enterprise SoftwareLogistics & Supply ChainSaaS

Co-investorsDeutsche Beteiligungs AG

Spherosspheros.com

Spheros develops, manufactures and distributes thermal systems, air conditioning components and related control software for commercial vehicles such as buses, including solutions for electric powertrains.

Advanced ManufacturingHardwareMobility & Transportation

Co-investorsBaird CapitalDeutsche Beteiligungs AGH.I.G. Capital

Teliotel.io

Tel.io partners with governments, correctional facilities, associations, and nonprofits to provide people in custody with tools for connection, learning, and rehabilitation, including initiatives supporting the children of incarcerated parents.

GovTechImpact & Social Good

Co-investorsDeutsche Beteiligungs AG

Totalmobiletotalmobile.cominNov 2025

Total Mobile offers a Field First platform that manages field service operations, including asset management, scheduling, job management, and lone worker protection for service organizations seeking to optimize delivery and reduce costs.

Enterprise SoftwareLogistics & Supply ChainSaaS

Co-investorsBowmark Capital

vhfvhf.de

vhf camfacture AG manufactures CNC milling machines, milling tools, and CAM software for the dental, industrial, and signmaking sectors, among other industries.

Advanced ManufacturingHardwareMedical Devices

Co-investorsDeutsche Beteiligungs AG

Zur Homepagebvkap.dein𝕏

The Bundesverband Beteiligungskapital (BVK) is the German industry association for the private equity and venture capital sector, representing its members' interests toward politicians and the media.

Fintech

Co-investorsBeyond Capital PartnersDeutsche Beteiligungs AGGENIUS Venture CapitalPhoenix Contact Innovation Ventures

Other

Tracked investments with no reachable website or further public details — typically companies that wound down, renamed, or were absorbed.

BTV MultimediaDNS:Net Internet Service GmbHFischer TireTechFormel D GmbHGreen DatahubInfiana Group GmbHNovopress KGRomaco GmbHSeroSjølundvon Poll Immobilien

Portfolio news

latest coverage across their companies

Fund performance · per public LP disclosures · 2

as of Jun 2025
FundVintageCommittedNet IRRTVPIDPI
European Private Equity Opportunities II LPLPs: Florida State Board of Administration2020—13.3%1.42x0.35x
European Private Equity Opportunities I LPLPs: Florida State Board of Administration2017—10.7%1.48x0.51x

Source: public limited-partner disclosures (CalPERS, CalSTRS). Net IRR / TVPI / DPI as reported by the limited partner; a fund's early-year IRR is an interim estimate (J-curve).

Frequently asked questions

How many investments has DBAG made?
DBAG has 54 tracked investments, including 1 dated in the last 24 months.
What stage does DBAG invest at?
DBAG invests at the Growth stage.
What sectors does DBAG focus on?
DBAG focuses on Advanced Manufacturing, Cleantech, Climate Tech, Energy, Healthtech, Mobility & Transportation, SaaS.
Where is DBAG located?
DBAG is headquartered in Frankfurt am Main, DE.
Does DBAG lead rounds?
Yes, DBAG leads investment rounds.
Who does DBAG co-invest with?
DBAG most often shares deals with Deutsche Beteiligungs AG, 3i Group, GENIUS Venture Capital, among 10 tracked co-investors.

Media · Podcasts & interviews

featuring the team

DBAG-Vorstand Tom Alzin: „Wir können befreit aufspielen“ - YouTube

FINANCE Magazin · Tom Alzin

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