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Alpina Partners

Alpina Partners

Munich, Germany·Founded 1995··alpinapartners.com

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.

AUM
Funds
2
vintages 2016–2022
Portfolio
3
Exits
3

Key facts

HQMunich, Germany
Founded1995

Recent exits

Germanedge
Germanedge
Software2025 · 9yr hold
Objective
Software2021 · 3yr hold
Modula
Software2020 · 5yr hold

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.

2 funds
Alpina Technology Fund IIGrowth
2022 · 4yr€150M2 active

Unrealized

2 held
FINAplus
FINAplusActive
SoftwareGermany· Entry 2023
SoftwareGermany· Entry 2022
Alpina Partners FundGrowth
2016 · 10yr€140M1 active · 3 realized

Unrealized

1 held
Virtalis
VirtalisActive
SoftwareUK· Entry 2017

Realized

3 exits
Germanedge
GermanedgeExited 2025
SoftwareGermany· Entry 2016
Trade Saleto
ModulaExited 2020
SoftwareGermany· Entry 2015
Trade Saleto
ObjectiveExited 2021
SoftwareBelgium· Entry 2018
Trade Saleto
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Last updated July 2026 · Sourced from public filings · Report an issue