Buyer landscape

Likely buyers · Deep Tech in Austria.

Prepared 2026-09-29 with GP Intel · deterministic scoring, published weights: gp-intel.com/methodology/league-tables

The list: 25 Tier 1 · 0 Tier 2 of 120 matched buyers, including 9 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 High79

13 platform investments in Software & IT · 3 in Austria · 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. BU Bregal Unternehmerkapital Multi-Asset Continuation Fund SponsorVery High79

18 platform investments in Software & IT · 1 in Austria · 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

3. Sophora Unternehmerkapital SponsorVery High79

5 platform investments in Software & IT · 2 in Austria · 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

4. Deutsche Beteiligungs AG SponsorVery High78

12 platform investments in Software & IT · 3 in Austria · 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

5. 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

6. Capmont SponsorVery High78

16 platform investments in Software & IT · 1 in Austria · 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 Celus, 2022 · Deep Tech, Germany

7. AFINUM Management GmbH SponsorVery High78

14 platform investments in Software & IT · 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

8. Armira SponsorVery High78

8 platform investments in Software & IT · 2 in Austria · 12 deals 2024–26

AUM €5.0B · Armira III · 2025 vintage · deploying · check €20-150M

8 platform investments since the 2025 vintage · mid-deployment vs its usual 10 per fund.

Backed FTAPI, 2025 · Cybersecurity, Germany

9. 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

10. BU Bregal Unternehmerkapital SponsorVery High77

17 platform investments in Software & IT · 1 in Austria · 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

11. Adelis Equity Partners SponsorVery High77

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.

Bought Plenticon Group from Cadence Growth Capital, 2026 · IT Services, Germany

12. Swanlaab Venture Factory SponsorVery High77

12 platform investments in Software & IT · 1 in Austria · 18 deals 2024–26

Swanlaab Innvierte Agrifood Tech · 2024 vintage · deploying

Accelerating: 15 deals in the last 2 years vs 1.3/yr before.

Backed Situm, 2019 · Deep Tech, Spain

13. Cipio Partners SponsorVery High77

19 platform investments in Software & IT · 1 in Austria · 8 deals 2024–26

Cipio Partners Fund VIII · 2021 vintage · partially deployed · check €4-30M

Accelerating: 6 deals in the last 2 years vs 1.8/yr before.

Backed Isar Aerospace, 2026 · Deep Tech, Germany

14. Isai Gestion SponsorVery High76

61 platform investments in Software & IT · 30 deals 2024–26

AUM €458M · ISAI Expansion III · 2025 vintage · deploying · check €6-45M

23 platform investments since the 2025 vintage · largely deployed vs its usual 20 per fund.

Backed ProcurePro, 2026 · Software, Australia

15. Oakley Capital SponsorVery High76

15 platform investments in Software & IT · 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

16. GRO Capital SponsorVery High76

22 platform investments in Software & IT · 1 in Austria · 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 Akselos, 2023 · Deep Tech, Switzerland

17. EQT SponsorVery High75

40 platform investments in Software & IT · 1 in Austria · 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 VTI Technologies, 2002 · Deep Tech, Finland

18. Apax Partners SponsorVery High75

35 platform investments in Software & IT · 21 deals 2024–26

AUM €70.8B · Apax XI · 2024 vintage · deploying · check €221M-1.7B