EMH Partners
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.
Key facts
Recent exits
Coverage notes
2 funds tracked, 13 portfolio companies (11 active · 2 realized). Verified weekly from public filings and deal announcements.
Sector breakdown
13 companiesFunds & portfolio
Every fund EMH Partners has raised, with its portfolio companies. Hand-checked from public filings.
EMH Growth Fund IIGrowthHarvesting2020 · 6yr€650M7 active
Unrealized
7 held| Company | Sector | Geo | Entry |
|---|---|---|---|
| Consumer |  Belgium | 2022 | |
| SaaS |  Germany | 2021 | |
| Fintech | Germany | 2025 | |
| AI/ML | Germany | 2022 | |
| AdTech | Germany | 2022 | |
| HealthTech | Germany | 2025 | |
| Software |  US | 2024 |
Belgium· Entry 2022Germany· Entry 2021Germany· Entry 2025Germany· Entry 2022Germany· Entry 2022Germany· Entry 2025US· Entry 2024EMH Growth Fund IGrowthHarvesting2016 · 10yr€350M4 active · 2 realized
Unrealized
4 held| Company | Sector | Geo | Entry |
|---|---|---|---|
| Business Services | Germany | 2019 | |
| MedTech | Germany | 2018 | |
| Business Services | Germany | 2019 | |
| Consumer | Germany | 2017 |
Germany· Entry 2019Germany· Entry 2018Germany· Entry 2019Germany· Entry 2017Realized
2 exits| Company | Sector | Geo | Entry | Exit | Type | Buyer | MOIC |
|---|---|---|---|---|---|---|---|
| Real Estate | Germany | 2018 | 2026 | Trade Sale | – | ||
| Software | Germany | 2017 | 2021 | Secondary | – |
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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. Detailed buyer names and multiple data available on Pro at €29/month.
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