Alpina Partners
Alpina Partners is a Munich- and London-based, owner-managed technology private equity firm managing around EUR 300 million. It spun out of WHEB Partners in 2016 when the private equity team bought out WHEB Group and rebranded, taking over the legacy WHEB private equity funds. The firm targets majority growth-capital and lower mid-market buyout investments in small and medium-sized European technology businesses across B2B software, tech-enabled business services and industrial technologies. Several of its holdings have been buy-and-build software platforms sold to strategic acquirers such as Aptean.
Key facts
Recent exits
Coverage notes
2 funds tracked, 6 portfolio companies (3 active · 3 realized). Verified weekly from public filings and deal announcements.
Funds & portfolio
Every fund Alpina Partners has raised, with its portfolio companies. Hand-checked from public filings.
Alpina Technology Fund IIGrowth2022 · 4yr€150M2 active
Unrealized
2 held| Company | Sector | Geo | Entry |
|---|---|---|---|
| FINAplus | Software | Germany | 2023 |
| The Project Group | Software | Germany | 2022 |
Alpina Partners FundGrowth2016 · 10yr€140M1 active · 3 realized
Unrealized
1 held| Company | Sector | Geo | Entry |
|---|---|---|---|
| Virtalis | Software | United Kingdom | 2017 |
Realized
3 exits| Company | Sector | Geo | Entry | Exit | Type | Buyer | MOIC |
|---|---|---|---|---|---|---|---|
| Germanedge | Software | Germany | 2016 | 2025 | Trade Sale | – | |
| Modula | Software | Germany | 2015 | 2020 | Trade Sale | – | |
| Objective | Software | Belgium | 2018 | 2021 | Trade Sale | – |
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