AFINUM is a Munich-based mid-cap private equity house founded in 2000, investing majority stakes in profitable DACH Mittelstand companies across industrials, software, healthcare, business services and consumer, typically in succession and growth situations, with offices in Munich, Frankfurt and Zurich.
AUM
–
Funds
4
vintages 2013–2026
Portfolio
22
Exits
12
Key facts
Recent exits
Threema
SaaS2026 · 6yr hold
Kappa optronics
MedTech2026 · 10yr hold
Fast LTA
SaaS2024 · 5yr hold
ICONIA Group
Business Services2024 · 9yr hold
Coverage notes
4 funds tracked, 34 portfolio companies (22 active · 12 realized). Verified weekly from public filings and deal announcements.
Sector breakdown
34 companiesSaaS
14 · 41%
Consumer
7 · 21%
Industrials
5 · 15%
MedTech
3 · 9%
Business Services
3 · 9%
Pharma
1 · 3%
Healthcare
1 · 3%
Funds & portfolio
Every fund AFINUM Management GmbH has raised, with its portfolio companies. Hand-checked from public filings.
4 funds
AFINUM X Buyout (2026)Small-Mid Buyout2026 · 0yr€500M1 active
AFINUM IX Buyout (2021)Small-Mid Buyout2021 · 5yr€410M14 active
Unrealized
14 held| Company | Sector | Geo | Entry |
|---|---|---|---|
| Industrials |  Germany | 2022 | |
| SaaS | Germany | 2025 | |
| SaaS |  Switzerland | 2025 | |
| SaaS |  Netherlands | 2026 | |
| Consumer | Germany | 2021 | |
| MedTech | Germany | 2024 | |
| SaaS | Germany | 2023 | |
| SaaS | Germany | 2024 | |
| Pharma | Germany | 2025 | |
| SaaS | Germany | 2024 | |
| SaaS | Germany | 2025 | |
| MedTech | Switzerland | 2021 | |
| SaaS | Germany | 2022 | |
| Consumer | Germany | 2022 |
Christian Koenen GroupActive
IndustrialsGermany· Entry 2022
Germany· Entry 2022DPS EngineeringActive
SaaSGermany· Entry 2025
Germany· Entry 2025Ergon InformatikActive
SaaSSwitzerland· Entry 2025
Switzerland· Entry 2025FairbanksActive
SaaSNetherlands· Entry 2026
Netherlands· Entry 2026Fishing BaseActive
ConsumerGermany· Entry 2021
Germany· Entry 2021MedTech Laser GroupActive
MedTechGermany· Entry 2024
Germany· Entry 2024mymedisetActive
SaaSGermany· Entry 2023
Germany· Entry 2023Objektkultur SoftwareActive
SaaSGermany· Entry 2024
Germany· Entry 2024ProJect PharmaceuticsActive
PharmaGermany· Entry 2025
Germany· Entry 2025PrologaActive
SaaSGermany· Entry 2024
Germany· Entry 2024sequrioActive
SaaSGermany· Entry 2025
Germany· Entry 2025MedTechSwitzerland· Entry 2021
Switzerland· Entry 2021synaforceActive
SaaSGermany· Entry 2022
Germany· Entry 2022Zeit fuer BrotActive
ConsumerGermany· Entry 2022
Germany· Entry 2022AFINUM VIII Buyout (2017)Small-Mid Buyout2017 · 9yr€410M7 active · 4 realized
Unrealized
7 held| Company | Sector | Geo | Entry |
|---|---|---|---|
| SaaS | Germany | 2017 | |
| Consumer | Germany | 2018 | |
| Industrials | Switzerland | 2019 | |
| SaaS | Germany | 2020 | |
| Business Services | Germany | 2021 | |
| Consumer | Germany | 2021 | |
| Industrials | Germany | 2018 |
It Works GroupActive
SaaSGermany· Entry 2017
Germany· Entry 2017LedlenserActive
ConsumerGermany· Entry 2018
Germany· Entry 2018Lemco PrecisionActive
IndustrialsSwitzerland· Entry 2019
Switzerland· Entry 2019ListanActive
SaaSGermany· Entry 2020
Germany· Entry 2020SanderStrothmannActive
Business ServicesGermany· Entry 2021
Germany· Entry 2021Tisso NaturprodukteActive
ConsumerGermany· Entry 2021
Germany· Entry 2021VentomaxxActive
IndustrialsGermany· Entry 2018
Germany· Entry 2018Realized
4 exits| Company | Sector | Geo | Entry | Exit | Type | Buyer | MOIC |
|---|---|---|---|---|---|---|---|
| Healthcare | Switzerland | 2018 | 2021 | Trade Sale | – | ||
| SaaS | Germany | 2019 | 2024 | Secondary | – | ||
| Consumer | Germany | 2019 | 2021 | Secondary | – | ||
| SaaS | Switzerland | 2020 | 2026 | Secondary | – |
AFINUM VII Buyout (2013)Small-Mid Buyout2013 · 13yr€280M0 active · 8 realized
Realized
8 exits| Company | Sector | Geo | Entry | Exit | Type | Buyer | MOIC |
|---|---|---|---|---|---|---|---|
| Business Services | Switzerland | 2014 | 2018 | Secondary | – | ||
| Consumer | Liechtenstein | 2014 | 2022 | Secondary | – | ||
| Industrials | Germany | 2017 | 2021 | Trade Sale | – | ||
| Business Services | Switzerland | 2015 | 2024 | Secondary | – | ||
| MedTech | Germany | 2016 | 2026 | Trade Sale | – | ||
| Consumer | Switzerland | 2014 | 2018 | Secondary | – | ||
| Industrials | Germany | 2016 | 2023 | Secondary | – | ||
| SaaS | Germany | 2016 | 2019 | Secondary | – |
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Last updated July 2026 · Sourced from public filings · Report an issue