What investment strategy does EMH Partners focus on?

EMH Partners focuses on Growth, Buyout strategies in the private equity space.

How many portfolio companies does EMH Partners have?

EMH Partners has 11 active portfolio companies and 2 completed exits and 2 funds tracked on GP Intel.

Where is EMH Partners headquartered?

EMH Partners is headquartered in Munich, Germany.

When was EMH Partners founded?

EMH Partners was founded in 2010.

What sectors does EMH Partners invest in?

EMH Partners invests across Software, Healthcare, Consumer, Business Services.

What are EMH Partners's recent exits?

Recent realized exits by EMH Partners include: Design Offices (2026) to IWG; Native Instruments (2021) to Francisco Partners.

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EMH Partners

Munich, Germany·Founded 2010·

Growth Equity Buyout

·emh.com

Munich growth-equity and buyout firm founded in 2010 by former technology entrepreneurs, backing digital and tech-enabled European mid-market companies in software, healthcare and industry with minority and majority stakes.

AUM

–

Funds

vintages 2016–2020

Portfolio

Exits

EMH Partners is a Munich growth equity firm with 11 active companies and 2 exits.

SectorsSoftware Healthcare Consumer Business Services

Sector breakdown

13 companies

Consumer

2 · 15%

Software

2 · 15%

Business Services

2 · 15%

SaaS

1 · 8%

Fintech

1 · 8%

AI/ML

1 · 8%

AdTech

1 · 8%

HealthTech

1 · 8%

Geography breakdown

3 geographies

Germany

11 · 85%

Belgium

1 · 8%

Key facts

HQMunich, Germany

Founded2010

Websiteemh.com

Recent exits

EMH Partners sold Design Offices to IWG in 2026 after 8 years.

EMH Partners sold Native Instruments to Francisco Partners in 2021 after 4 years.

Coverage notes

2 funds tracked, 13 portfolio companies (11 active · 2 realized). Verified weekly from public filings and deal announcements.

Funds & portfolio

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

2 funds

Fund

Strategy

Vintage

Size

Assets

Exits

EMH Growth Fund IIHarvesting

Growth2020€650M7 assets

Growth

2020 · 6yr

€650M

–

Unrealized

7 held

Company	Entry
Basalte Consumer · Belgium	2022
Cleverbridge SaaS · Germany	2021
Digitec Fintech · Germany	2025
Markup AI AI/ML · Germany	2022
Smarketer AdTech · Germany	2022
Snke OS HealthTech · Germany	2025
Stonebranch Software · US	2024

EMH Growth Fund IHarvesting

Growth2016€350M4 assets2 exits

Growth

2016 · 10yr

€350M

Unrealized

4 held

Company	Entry
Avantgarde Business Services · Germany	2019
Brainlab MedTech · Germany	2018
Liganova Business Services · Germany	2019
Occhio Consumer · Germany	2017

Realized

2 exits

Company	Entry	Exit	Type	Buyer	MOIC
Design Offices Real Estate · Germany	2018	2026	Trade Sale	IWG	–
Native Instruments Software · Germany	2017	2021	Secondary	Francisco Partners	–

About EMH Partners

EMH Partners is a German Mittelstand growth-buyout specialist with more than €1.5 billion of committed capital as of December 2024, headquartered in Munich with additional offices in London and Madrid. The firm was founded in 2010 by brothers Maximilian and Sebastian Kuss (entrepreneurs since 2003) and operates as a founder-led partner-owned private firm with team co-investment. The founder-to-founder positioning closes the European Mittelstand growth-capital gap between VC and mega-buyout.

Investment thesis

EMH Partners deploys capital through two main funds (EMH Growth Fund I €350 million 2016 vintage, EMH Growth Fund II €650 million 2020 vintage) plus co-invest SPVs, targeting growth-buyout for European mid-cap Mittelstand with majority and significant-minority stakes. The long-hold partnership model addresses the gap between VC and large buyout. Sector focus spans three vertical themes: Healthcare and HealthTech, Software and SaaS, and Industrial Tech, Consumer and Brands and Business Services. Geographic deployment is DACH-centric plus selective Western Europe with Germany core, UK and Iberia.

Recent activity

Recent realised exits include coworking and real estate (Design Offices, March 2026). Recent acquisitions include fintech and capital markets software (DIGITEC, December 2025), IT automation and software (Stonebranch, April 2024), medtech and healthcare (Brainlab follow-on, 2023) and lighting and design consumer (Occhio, 2022). The platform continues active deployment of Fund II across the European Mittelstand mandate.

Frequently asked questions

What investment strategy does EMH Partners focus on?: EMH Partners focuses on Growth, Buyout strategies in the private equity space.
How many portfolio companies does EMH Partners have?: EMH Partners has 11 active portfolio companies and 2 completed exits and 2 funds tracked on GP Intel.
Where is EMH Partners headquartered?: EMH Partners is headquartered in Munich, Germany.
When was EMH Partners founded?: EMH Partners was founded in 2010.
What sectors does EMH Partners invest in?: EMH Partners invests across Software, Healthcare, Consumer, Business Services.
What are EMH Partners's recent exits?: Recent realized exits by EMH Partners include: Design Offices (2026) to IWG; Native Instruments (2021) to Francisco Partners.