Buyer landscape
Likely buyers · DevTools in Switzerland.
Prepared 2026-09-29 with GP Intel · deterministic scoring, published weights: gp-intel.com/methodology/league-tables
How companies like this sold · 23 verified exits: 26% to sponsors, 70% to corporates and platforms, 4% other routes. Route shift since 2020: sponsors 21% (was 21%), corporates and platforms 75% (was 72%), IPO 3% (was 6%) (sector-wide).
The list: 25 Tier 1 · 0 Tier 2 of 120 matched buyers, including 7 geographic expansion candidates without a local platform yet. A first round of the Tier 1 names plus the expansion buyers covers the demonstrated demand.
Financial buyers · 25
Tier 1 · Very High · score 70+
1. Deutsche Beteiligungs SponsorVery High81
13 platform investments in Software & IT · 4 in Switzerland · 10 deals 2024–26
AUM €2.7B · DBAG Solvares Continuation Fund · 2024 vintage · deploying · check €3-20M
9 platform investments since the 2024 vintage · largely deployed vs its usual 8 per fund.
Backed Bug Bounty Switzerland, 2026 · Cybersecurity, Switzerland
2. Deutsche Beteiligungs AG SponsorVery High80
12 platform investments in Software & IT · 4 in Switzerland · 9 deals 2024–26
AUM €2.7B · DBAG Solvares Continuation Fund · 2024 vintage · deploying · check €3-20M
9 platform investments since the 2024 vintage · largely deployed vs its usual 8 per fund.
Backed Bug Bounty Switzerland, 2026 · Cybersecurity, Switzerland
3. BU Bregal Unternehmerkapital Multi-Asset Continuation Fund SponsorVery High79
18 platform investments in Software & IT · 5 in Switzerland · 15 deals 2024–26
AUM €7.0B · BU Bregal Unternehmerkapital Multi-Asset Continuation Fund · 2026 vintage · deploying · check €16-122M
4 platform investments since the 2026 vintage · early in deployment vs its usual 9 per fund.
Bought Safety21 from BU Bregal Unternehmerkapital, 2026 · Software, Italy
4. Adelis Equity Partners SponsorVery High79
13 platform investments in Software & IT · 10 deals 2024–26
Adelis Equity Partners Fund IV · 2024 vintage · deploying · check €32-242M
4 platform investments since the 2024 vintage · mid-deployment vs its usual 7 per fund.
Backed Bryntum, 2025 · DevTools, Sweden
5. AFINUM Management GmbH SponsorVery High79
14 platform investments in Software & IT · 8 in Switzerland · 9 deals 2024–26
AFINUM X Buyout (2026) · 2026 vintage · deploying · check €10-75M
2 platform investments since the 2026 vintage · early in deployment vs its usual 9 per fund.
Backed Fairbanks, 2026 · SaaS, Netherlands
6. Axcel SponsorVery High78
20 platform investments in Software & IT · 14 deals 2024–26
Axcel VII · 2023 vintage · deploying · check €26-194M
15 platform investments since the 2023 vintage · largely deployed vs its usual 9 per fund.
Backed Bekk, 2026 · IT Services, Norway
7. Hg SponsorVery High77
49 platform investments in Software & IT · 22 deals 2024–26
AUM €69.0B · Hg Mercury 4 · 2023 vintage · deploying · check €48-360M
24 platform investments since the 2023 vintage · largely deployed vs its usual 8 per fund.
Backed OneStream, 2026 · SaaS, US
8. BU Bregal Unternehmerkapital SponsorVery High77
17 platform investments in Software & IT · 5 in Switzerland · 14 deals 2024–26
AUM €7.0B · BU Bregal Unternehmerkapital Multi-Asset Continuation Fund · 2026 vintage · deploying · check €16-122M
4 platform investments since the 2026 vintage · early in deployment vs its usual 9 per fund.
Backed Safety21, 2026 · Software, Italy
9. BID Equity Continuation Fund I SCSp SponsorVery High77
23 platform investments in Software & IT · 2 in Switzerland · 15 deals 2024–26
AUM €800M · BID Equity Continuation Fund I · 2025 vintage · deploying · check €6-45M
Accelerating: 13 deals in the last 2 years vs 2.8/yr before.
Bought Bmobile from BID Equity, 2025 · SaaS, France
10. BID Equity SponsorVery High77
19 platform investments in Software & IT · 2 in Switzerland · 10 deals 2024–26
AUM €800M · BID Equity Continuation Fund I · 2025 vintage · deploying · check €6-45M
8 platform investments since the 2025 vintage · largely deployed vs its usual 7 per fund.
Backed Bmobile, 2025 · SaaS, France
11. Isai Gestion SponsorVery High76
61 platform investments in Software & IT · 32 deals 2024–26
AUM €458M · ISAI Expansion III · 2025 vintage · deploying · check €6-45M
25 platform investments since the 2025 vintage · largely deployed vs its usual 20 per fund.
Backed ProcurePro, 2026 · Software, Australia
12. Oakley Capital SponsorVery High76
15 platform investments in Software & IT · 1 in Switzerland · 20 deals 2024–26
AUM €12.7B · Oakley Capital Fund VI · 2025 vintage · deploying · check €90-675M
10 platform investments since the 2025 vintage · largely deployed vs its usual 6 per fund.
Bought Senef from Isatis Capital, 2026 · SaaS, France
13. Capmont SponsorVery High76
16 platform investments in Software & IT · 3 in Switzerland · 17 deals 2024–26
Capmont Technology Fund · 2024 vintage · deploying · check €2-15M
17 platform investments since the 2024 vintage · largely deployed vs its usual 15 per fund.
Backed Boost Inc, 2025 · Software, Germany
14. GRO Capital SponsorVery High76
22 platform investments in Software & IT · 2 in Switzerland · 5 deals 2024–26
AUM €1.2B · GRO Generation I · 2024 vintage · deploying · check €3-23M
5 platform investments since the 2024 vintage · mid-deployment vs its usual 6 per fund.
Backed Toolsense, 2026 · SaaS, Austria
15. Maguar Capital SponsorVery High76
5 platform investments in Software & IT · 1 in Switzerland · 7 deals 2024–26
AUM €595M · Maguar Continuation Fund I · 2023 vintage · deploying · check €5-35M
7 platform investments since the 2023 vintage · largely deployed vs its usual 4 per fund.
Backed GlobalSuite Solutions, 2026 · Cybersecurity, Spain
16. Maguar Capital Partners SponsorVery High76
4 platform investments in Software & IT · 1 in Switzerland · 6 deals 2024–26
AUM €595M · Maguar Continuation Fund I · 2023 vintage · deploying · check €5-35M
7 platform investments since the 2023 vintage · largely deployed vs its usual 4 per fund.
Backed GlobalSuite Solutions, 2026 · Cybersecurity, Spain
17. Sophora Unternehmerkapital SponsorVery High76
5 platform investments in Software & IT · 5 deals 2024–26
Sophora Capital Unternehmer-Fonds I · 2023 vintage · deploying · check €1-8M
Accelerating: 4 deals in the last 2 years vs 0.8/yr before.
Backed SQUER, 2026 · IT Services, Austria
18. EQT SponsorVery High75
40 platform investments in Software & IT · 7 in Switzerland · 51 deals 2024–26
AUM €291.0B · EQT X · 2023 vintage · deploying · check €440M-3.3B
53 platform investments since the 2023 vintage · largely deployed vs its usual 11 per fund.
Backed Mews, 2026 · SaaS, Netherlands
19. Apax Partners SponsorVery High75
35 platform investments in Software & IT · 2 in Switzerland · 21 deals 2024–26
AUM €70.8B · Apax XI · 2024 vintage · deploying · check €221M-1.7B
19 platform investments since the 2024 vintage · largely deployed vs its usual 12 per fund.
Backed Sedex, 2026 · Data & Analytics, UK
20. Apax Partners (with NewAlpha) SponsorVery High75
30 platform investments in Software & IT · 1 in Switzerland · 19 deals 2024–26
AUM €70.8B · Apax XI · 2024 vintage · deploying · check €221M-1.7B
19 platform investments since the 2024 vintage · largely deployed vs its usual 12 per fund.
Backed Sedex, 2026 · Data & Analytics, UK
21. Apax Partners and Inova Capital SponsorVery High75
29 platform investments in Software & IT · 1 in Switzerland · 19 deals 2024–26
AUM €70.8B · Apax XI · 2024 vintage · deploying · check €221M-1.7B
19 platform investments since the 2024 vintage · largely deployed vs its usual 12 per fund.
Backed Sedex, 2026 · Data & Analytics, UK
22. Apax Partners and JMI Equity SponsorVery High75
29 platform investments in Software & IT · 1 in Switzerland · 19 deals 2024–26
AUM €70.8B · Apax XI · 2024 vintage · deploying · check €221M-1.7B
19 platform investments since the 2024 vintage · largely deployed vs its usual 12 per fund.
Backed Sedex, 2026 · Data & Analytics, UK
23. Apax Partners SAS SponsorVery High75
29 platform investments in Software & IT · 1 in Switzerland · 19 deals 2024–26
AUM €70.8B · Apax XI · 2024 vintage · deploying · check €221M-1.7B
19 platform investments since the 2024 vintage · largely deployed vs its usual 12 per fund.
Backed Sedex, 2026 · Data & Analytics, UK
24. Oakley Capital, Eurazeo, Sagard NewGen (I-Tracing platform) SponsorVery High75
15 platform investments in Software & IT · 1 in Switzerland · 19 deals 2024–26
AUM €12.7B · Oakley Capital Fund VI · 2025 vintage · deploying · check €90-675M
10 platform investments since the 2025 vintage · largely deployed vs its usual 6 per fund.
Backed Senef, 2026 · Software, France
25. Deutsche Telekom Capital Partners SponsorVery High75
34 platform investments in Software & IT · 9 deals 2024–26
DTCP Growth Equity III · 2022 vintage · partially deployed
15 platform investments since the 2022 vintage · largely deployed vs its usual 14 per fund.
Backed Dash0, 2026 · DevTools, Germany
Scores and facts derive from verified deal records only; sample floors and thresholds are published on the methodology page. Figures marked with a tilde are bands, not disclosures.