What investment strategy does Athos focus on?

Athos focuses on Growth, VC strategies in the private equity space.

How many portfolio companies does Athos have?

Athos has 12 active portfolio companies and 2 completed exits and 1 fund tracked on GP Intel.

Where is Athos headquartered?

Athos is headquartered in Munich, Germany.

What is Athos's assets under management?

Athos manages approximately €20.0B in assets under management.

What sectors does Athos invest in?

Athos invests across Healthcare, TMT, Energy.

What are Athos's recent exits?

Recent realized exits by Athos include: Tubulis (2026) to Gilead Sciences; Ganymed Pharmaceuticals (2016) to Astellas Pharma.

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Athos

Munich, Germany·Founded 2001·

Growth Equity Venture Capital

·athos-kg.de

Athos (ATHOS KG / Athos Service GmbH) is the Munich-based single-family office and direct-investment arm of twins Andreas and Thomas Struengmann, who founded generics maker Hexal and sold it to Novartis in 2005. Structured as an ATON-style evergreen balance-sheet holding, Athos invests permanent capital directly into life sciences, biotech and technology companies, most famously as BioNTech founding investor. It backs entrepreneurial, science-led teams across drug development, biomanufacturing, gene therapy and digital health, and also holds selective industrial and clean-tech positions such as its hearing-aid and solar-wafer investments.

AUM

€20.0B

Funds

vintages 2001

Portfolio

Exits

Athos is a Munich growth equity firm with €20.0B AUM, 12 active companies and 2 exits.

SectorsHealthcare TMT Energy

Sector breakdown

14 companies

Biotech

11 · 79%

HealthTech

1 · 7%

ClimateTech

1 · 7%

MedTech

1 · 7%

Geography breakdown

4 geographies

Germany

10 · 71%

2 · 14%

Italy

1 · 7%

France

1 · 7%

Key facts

HQMunich, Germany

Founded2001

Websiteathos-kg.de

Recent exits

Athos sold Tubulis to Gilead Sciences in 2026 after 4 years.

Athos sold Ganymed Pharmaceuticals to Astellas Pharma in 2016 after 15 years.

Coverage notes

1 fund tracked, 14 portfolio companies (12 active · 2 realized). Verified weekly from public filings and deal announcements.

Funds & portfolio

Every fund Athos has raised, with its portfolio companies. Hand-checked from public filings.

1 fund

Fund

Strategy

Vintage

Size

Assets

Exits

Athos Evergreen Life SciencesActive

Evergreen2001€20.0B12 assets2 exits

Evergreen

2001 · 25yr

€20.0B

Unrealized

12 held

Company	Entry
AAVantgarde Bio Biotech · Italy	2025
AiCuris Biotech · Germany	2006
AMSilk Biotech · Germany	2025
Antheia Biotech · US	2025
Bambusa Therapeutics Biotech · US	2025
BioNTech Biotech · Germany	2008
Doctolib HealthTech · France	2026
Formycon Biotech · Germany	2022
Immatics Biotech · Germany	2020
iOmx Therapeutics Biotech · Germany	2021
NexWafe ClimateTech · Germany	2023
Sivantos MedTech · Germany	2015

Realized

2 exits

Company	Entry	Exit	Type	Buyer	MOIC
Ganymed Pharmaceuticals Biotech · Germany	2001	2016	Trade Sale	Astellas Pharma	–
Tubulis Biotech · Germany	2022	2026	Trade Sale	Gilead Sciences	–

Frequently asked questions

What investment strategy does Athos focus on?: Athos focuses on Growth, VC strategies in the private equity space.
How many portfolio companies does Athos have?: Athos has 12 active portfolio companies and 2 completed exits and 1 fund tracked on GP Intel.
Where is Athos headquartered?: Athos is headquartered in Munich, Germany.
What is Athos's assets under management?: Athos manages approximately €20.0B in assets under management.
When was Athos founded?: Athos was founded in 2001.
What sectors does Athos invest in?: Athos invests across Healthcare, TMT, Energy.
What are Athos's recent exits?: Recent realized exits by Athos include: Tubulis (2026) to Gilead Sciences; Ganymed Pharmaceuticals (2016) to Astellas Pharma.