Frankfurt am Main · Growth
Investment thesis
DBAG focuses on private equity investments in the German-speaking Mittelstand, backing mid-sized companies through management buyouts and long-term equity investments. Its Investment Advisory Team, one of the largest and most experienced in Germany, supports the entire investment process from deal identification through value creation to exit, often applying buy-and-build strategies. The firm and its experienced team members co-invest personal capital alongside DBAG funds to align interests. Sector expertise spans industrial machinery and equipment, automotive suppliers, construction suppliers, IT services and software, telecommunications, healthcare services, packaging, and food industries, reflecting a long history serving traditional and growth segments of the German mid-market.
Source: firm website, verified Aug 18, 2026.
What they invest in
from 11 of 66 portfolio companiesHardware ×4Advanced Manufacturing ×3Fintech ×3Enterprise Software ×2SaaS ×2AI & Machine Learning ×1Cloud Computing ×1E-commerce ×1
HQs:Germany×9Italy×1
Investments · 66 tracked
founders shown can be your intro pathA leading provider of agile software development focused on custom enterprise solutions; DBAG's seventh investment in the IT services and software sector.
Dieter BRAUN GmbH provides cable assembly (Kabelkonfektion) and lighting technology solutions, supporting customers across the full production process.
Advanced ManufacturingHardwareIoT
Co-investorsDBAG
MBO | 2018 to 2023; Environment, Energy and Infrastructure
A leading European full-service provider for digital transformation, offering consulting, custom software development, cloud-native solutions and operations; formed in 2019 via an MBO combining Catalysts GmbH and Crisp Research AG.
AI-driven software development specialist, acquired as an add-on for Cloudflight.
DBAG Italia is the Italian arm of an international private equity firm that provides equity capital to well-positioned mid-sized companies, often family-owned businesses with B2B models in industrial sectors.
Sector AgnosticMilan, IT
Co-investorsDBAG
Divante is an eCommerce engineering partner that designs, builds, and optimises online commerce platforms, offering services such as composable commerce, platform migrations, headless storefronts, integrations, and AI features.
AI & Machine LearningE-commerceRetail Tech
Growth financing | 2013 to 2021; Environment, Energy and Infrastructure
ELF Capital manages credit funds that provide flexible, tailored financing solutions to companies, owners, investors, and management teams.
Fintech
Christian Fritsch(Founding Partner)
Co-investorsDBAG
Fischer TireTech manufactures cord and steel cutting systems, extrusion lines, and RFID technologies used in tire production, serving manufacturers of two-wheel, light vehicle, truck, and off-the-road tires.
Advanced ManufacturingHardwareMobility & Transportation
Co-investorsDBAG
MBO | 2013 to 2017; Industry and IndustryTech
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-investorsDBAG
Hipp is a precision engineering manufacturer that produces custom, high-quality technical components made to customer specifications.
Advanced ManufacturingHardware
Co-investorsDBAG
Growth financing | 2013 to 2019; Environment, Energy and Infrastructure
MBO | 2014 to 2019; Industry and IndustryTech
Invest Europe is a membership association for the private equity and venture capital industry, offering members personalised content, training courses, and events.
Co-investorsDBAGInnova Capital Sp. z o.o.Inven Capital
Embedded software engineering and development partner for human-machine interfaces, acquired as a Cloudflight add-on.
MAIT is an IT services group offering manufacturer solutions and in-house developments in PLM and ERP, professional services, sovereign cloud and IT connectivity, and managed services to support a company's digitalization strategy.
Cloud ComputingEnterprise SoftwareSaaS
Holistic digitalization service provider with AI-based solutions, acquired as a Cloudflight add-on.
Growth financing | 2015 to 2019; Industry and IndustryTech
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-investorsDBAG
Co-investorsBeyond Capital PartnersEndowusEspiga Equity Partners SGEIC SAHOOPP private marketsInnova Capital Sp. z o.o.Mundi Ventures+2 more
MBO | 2013 to 2017; Industry and IndustryTech
MBO | 2011 to 2017; Industry and IndustryTech
Significantly improved profitability through operational synergies.
MBO | 2018 to 2022; Industry and IndustryTech
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
Transformed from a components manufacturer into a provider of complete system solutions.
Co-investorsDBAG
Co-investorsBeyond Capital PartnersDBAGGENIUS Venture CapitalPhoenix Contact Innovation Ventures
Fund performance · per public LP disclosures
as of Mar 2023| Fund | Vintage | Committed | Net IRR | TVPI | DPI |
|---|---|---|---|---|---|
| (DBAG) European Private Equity Opportunities LPLPs: Florida State Board of Administration | 2017 | — | 2.7% | 1.07x | 0.24x |
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 Deutsche Beteiligungs AG made?
- Deutsche Beteiligungs AG has 66 tracked investments.
- What stage does Deutsche Beteiligungs AG invest at?
- Deutsche Beteiligungs AG invests at the Growth stage.
- What sectors does Deutsche Beteiligungs AG focus on?
- Deutsche Beteiligungs AG focuses on Advanced Manufacturing, AI & Machine Learning, Cloud Computing, Cybersecurity, E-commerce, Energy, Enterprise Software, Healthtech, Mobility & Transportation, SaaS.
- Where is Deutsche Beteiligungs AG located?
- Deutsche Beteiligungs AG is headquartered in Frankfurt am Main, DE.
- Who does Deutsche Beteiligungs AG co-invest with?
- Deutsche Beteiligungs AG most often shares deals with DBAG, Beyond Capital Partners, Innova Capital Sp. z o.o., among 12 tracked co-investors.
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