Fundraising FoxParagon Partners
Private equityMünchen · Growth–Late Stage · 36 people tracked
Also known as THE PARAGON PARTNERS FUND II GMBH & CO. KG · THE PARAGON PARTNERS FUND III GMBH & CO. KG · THE PARAGON PARTNERS FUND IV GMBH & CO. KG
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Investment thesis
Paragon is an owner-managed investment firm that has stood for sustainable investments in mid-market companies since 2004. It acquires established Mittelstand companies with sustainable business models and significant growth potential, letting each company operate independently under its own management and financing. Paragon supports its holdings from an advisory board position, helping management teams improve businesses strategically and operationally, and provides additional capital for add-on acquisitions and growth initiatives. It also offers access to external experts in areas such as recruiting and operational development. Its investors include institutional players like life insurers, pension funds, and university endowments, alongside the Paragon team.
Source: firm website, verified Sep 29, 2026.
Team · 36 people
from the firm's website & public directories
Founder mafia
2 people who came through Paragon Partners went on to found or lead other companies.
What they invest in
from 24 of 52 portfolio companiesAdvanced Manufacturing ×7SaaS ×6Enterprise Software ×5Logistics & Supply Chain ×5AI & Machine Learning ×4E-commerce ×4Hardware ×4Cleantech ×3
HQs:Germany×12United States×5India×2Canada×1Hungary×1
Investments · 52 tracked
founders shown can be your intro pathBy year:2025 · 12021 · 12018 · 12017 · 14 dated
BillionToOne is a precision diagnostics company that uses molecular counting technology to develop non-invasive prenatal screening and liquid biopsy tests for early disease detection.
BiotechDigital HealthHealthtechMedical DevicesSan Francisco, US
Oguzhan Atay(Founder)inDavid Tsao(Founder)inSukrit Silas(Founder)in
Co-investors500 Emerging Europe500 GlobalAsymmetry VenturesCivilization Ventures Management, Llce2vcFifty Years+23 more
Castolin manufactures welding, coating, brazing, and thermal spraying equipment and consumables for industrial applications across hydropower, mining, oil and gas, steel, automotive, and aerospace sectors.
Advanced ManufacturingNew MaterialsMunich, DE
7Days Gruppe is an owner-managed group of companies offering sales, distribution, and logistics solutions along with fulfillment services and IT-supported process design for selected industries such as fashion, FMCG, healthcare, media, retail, eCommerce, industry, construction, and telecommunications/technology.
E-commerceLogistics & Supply ChainRetail TechTroisdorf, DE
ABL-Technic Group is the global market leader in paint stripping and metal cleaning services for automotive and industrial customers across 24 locations in 10 countries.
Advanced ManufacturingCircular EconomyCleantechLeutkirch im Allgäu, DE
Co-investorsRubicon Partners
AssemblyAI builds Voice AI technology for speech recognition and processing applications.
AI & Machine LearningData & InfrastructureDeveloper ToolsEnterprise SoftwareNew York City, US
Dylan Fox(Founder)in
Co-investorsAccelInsight PartnersMAVA VenturesSmith Point CapitalY CombinatorTechNexus Venture Collaborative
Bitrise is a mobile DevOps platform that provides continuous integration and deployment workflows for mobile app development.
Cloud ComputingData & InfrastructureDeveloper ToolsEnterprise SoftwareSaaSBudapest, HU
Viktor Benei(Founder)inDaniel Balla(Founder)inBarnabás Birmacher(CEO, Co-founder)inBarnabas Birmacher(Founder)in
Co-investorsInsight PartnersOktogon VenturesOpenOceanPartech VenturesY CombinatorFabric Ventures+2 more
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Chai Point sells tea blends and brewing products, offering a home café experience with personalized blends for consumers in India.
ConsumerDirect to ConsumerFoodTech
Co-investorsDSG Consumer PartnersNewRadioVentureSaama CapitalStride VenturesTrifecta Capital AdvisorsEight Roads Ventures
Chicco di Caffè operates its own coffee roastery selling specialty coffee through an online shop, and runs the chicco akademie offering on-site training and courses for baristas and other professionals.
ConsumerE-commerceFoodTech
cunova is a manufacturer of copper-alloy products and solutions serving industrial, maritime, and melting & casting technology applications, including tube bundles for marine systems.
Advanced ManufacturingHardwareNew MaterialsOsnabrück, DE
EOS makes sauna and wellness equipment, including sauna heaters (Öfen) and control systems for wellness cabins.
Advanced ManufacturingHardwareWellness & Fitness
GoBolt provides ecommerce fulfillment and last-mile delivery services, handling picking, packing, shipping, delivery, and returns for merchants, with a focus on sustainability and an electric vehicle fleet.
CleantechE-commerceLogistics & Supply ChainSaaS
Heindrik Bernabe(Co-founder)inMark Ang(Co-founder & CEO)in
Co-investorsBDC Growth Venture FundFounderFuelIngka InvestmentsKensington Capital Partners LimitedPlaza VenturesWhitecap Venture Partners+6 more
Helion develops fusion energy systems designed to generate clean electricity for commercial use.
Advanced ManufacturingCleantechClimate TechDeep TechEnergyHardwareSeattle, US
David Kirtley(Founder)inChris Pihl(Founder)inJohn Slough(Founder)inGeorge Votroubek(Founder)inAnthony Pancotti(Co-founder)in
BoardSam Altman(Director)
Co-investorsAntiBoxGroupCongruent VenturesSoftBank GroupSoftBank Vision FundY Combinator+9 more
Lattice is a people management platform that helps HR leaders and organizations align goals, improve performance, and engage teams through features like 1:1s and performance tracking.
AI & Machine LearningEnterprise SoftwareFuture of WorkHR TechSaaSSan Francisco, US
Jack Altman(Founder)inEric Koslow(Founder)inJoe Noto(Executive Officer)Paul Burgess(Executive Officer, Director)in
BoardRobert Wurwarg(Director)Richard Stewart(Director)
Co-investors137 VenturesBetter Tomorrow VenturesConnetic VenturesCoughdrop CapitalFrontline VenturesGV (Google Ventures)+24 more
Novagraaf provides intellectual property services and strategic IP perspectives to brands and organizations globally to support competitive advantage.
Enterprise SoftwareLegalTechSaaS
Co-investorsRivean Capital
PAKi Logistics operates a load-carrier pooling network for managing and exchanging pallets and containers across Europe.
Circular EconomyLogistics & Supply ChainEnnepetal, DE
POLO Motorrad is an online retailer of motorcycle gear, apparel, and accessories, offering products such as riding outfits and equipment.
E-commerceMobility & TransportationRetail Tech
rapidmail is an email marketing tool for creating and sending newsletters, including guidance for first-time newsletter users.
Marketing TechSaaS
Co-investorsEMZ Partners
Saarathi provides loans and financial guidance to MSMEs and small business entrepreneurs in India, combining lending with advisory support and financial literacy education.
Fintech
Vivek Bansal(Founder and CEO)in
Co-investorsEvolvence India FundLok Capital
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-investorsDBAGDeutsche Beteiligungs AGLevine LeichtmanOakley
Verge Labs builds AI models trained on multimodal human patient data to predict drug targets and patient populations for clinical development, primarily in neuroscience and central nervous system (CNS) disease.
AI & Machine LearningBiotechDeep TechDigital HealthHealthtechSan Francisco, US
Alice Zhang(Founder)inJason Chen(Founder)inEmily Ripka(Head of Product & Engineering)in
Co-investorsAgent CapitalALS Investment FundBOLD LongevityDraper AssociatesFitz Gate VenturesGreat Oaks Venture Capital+28 more
Other
Tracked investments with no reachable website or further public details — typically companies that wound down, renamed, or were absorbed.
Anti-Germ & MedentechAPONTIS PHARMAAsicAWGBALDUR-GartenCondectaDICTUMdtmseleroGoodliveinprotec AGKADIMGNovumIPPAVISPrimedpro optikQuestelRudolf RiesterSCHELLSovendusStumpp+SchüleSwisshausTP FOOD GROUPUNICEPTAWEKA GroupWEMASWer liefert was
Exits · 1
1 IPOsBillionToOneNASDAQ: BLLN
Portfolio news
latest coverage across their companiesBitrise · en.wikipedia.org · Sep 4, 2026
Helion Energy · techcrunch.com · Jun 4, 2026
Fund performance · per public LP disclosures · 3
as of Jun 2025| Fund | Vintage | Committed | Net IRR | TVPI | DPI |
|---|---|---|---|---|---|
| The Paragon Fund IV GmbH & Co. KGLPs: Florida State Board of Administration | 2023 | — | -13.2% | 0.96x | 0.00x |
| Paragon Venture Partners II, L.P.LPs: Washington State Investment Board | 1989 | — | 11.6% | 2.30x | 2.30x |
| Paragon Partners, L.P.LPs: Washington State Investment Board | 1984 | — | 13.8% | 2.10x | 2.09x |
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 Paragon Partners made?
- Paragon Partners has 52 tracked investments, 1 of which have exited, including 1 dated in the last 24 months.
- What stage does Paragon Partners invest at?
- Paragon Partners invests at the Growth, Late Stage stages.
- What sectors does Paragon Partners focus on?
- Paragon Partners focuses on Sector Agnostic.
- Where is Paragon Partners located?
- Paragon Partners is headquartered in München, DE.
- Who does Paragon Partners co-invest with?
- Paragon Partners most often shares deals with DBAG, Deutsche Beteiligungs AG, Levine Leichtman, among 4 tracked co-investors.
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