Buyer landscape

Likely buyers · SaaS in Germany.

Prepared 2026-08-28 with GP Intel · deterministic scoring, published weights: gp-intel.com/methodology/league-tables

How companies like this sold · 347 verified exits: 20% to sponsors, 78% to corporates and platforms, 1% via IPO, 1% other routes. Route shift since 2020: sponsors 19% (was 23%), corporates and platforms 79% (was 75%), IPO 0% (was 3%).

The list: 24 Tier 1 · 1 Tier 2 of 120 matched buyers, including 12 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. AFINUM Management GmbH SponsorVery High94

14 platform investments in Software & IT · 24 in Germany · 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

2. Hg SponsorVery High93

48 platform investments in Software & IT · 19 in Germany · 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

3. BU Bregal Unternehmerkapital Multi-Asset Continuation Fund SponsorVery High90

18 platform investments in Software & IT · 32 in Germany · 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.

Backed SnelStart, 2025 · SaaS, Netherlands

4. BID Equity Continuation Fund I SCSp SponsorVery High90

12 platform investments in Software & IT · 14 in Germany · 9 deals 2024–26

AUM €800M · BID Equity Continuation Fund I · 2025 vintage · deploying · check €6-45M

Accelerating: 7 deals in the last 2 years vs 2.0/yr before.

Bought everii from BID Equity, 2025 · SaaS, Germany

5. Oakley Capital SponsorVery High89

15 platform investments in Software & IT · 15 in Germany · 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

6. EQT SponsorVery High87

40 platform investments in Software & IT · 40 in Germany · 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

7. Oakley Capital, Eurazeo, Sagard NewGen (I-Tracing platform) SponsorVery High87

15 platform investments in Software & IT · 13 in Germany · 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 Blinq, 2025 · SaaS, Australia

8. BU Bregal Unternehmerkapital SponsorVery High87

17 platform investments in Software & IT · 32 in Germany · 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 SnelStart, 2025 · SaaS, Netherlands

9. Maguar Capital SponsorVery High85

5 platform investments in Software & IT · 9 in Germany · 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 Schlafender Hase, 2026 · SaaS, Germany

10. Deutsche Beteiligungs SponsorVery High84

13 platform investments in Software & IT · 80 in Germany · 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

11. EOS Partners SponsorVery High84

4 platform investments in Software & IT · 12 in Germany · 4 deals 2024–26

AUM €500M · EOS Fund II · 2023 vintage · deploying · check €6-47M

4 platform investments since the 2023 vintage · mid-deployment vs its usual 7 per fund.

Backed Drooms, 2026 · SaaS, Germany

12. Maguar Capital Partners SponsorVery High84

4 platform investments in Software & IT · 7 in Germany · 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 Schlafender Hase, 2026 · SaaS, Germany

13. Deutsche Beteiligungs AG SponsorVery High83

12 platform investments in Software & IT · 85 in Germany · 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

14. Capmont SponsorVery High83

16 platform investments in Software & IT · 32 in Germany · 16 deals 2024–26

Capmont Technology Fund · 2024 vintage · deploying · check €2-15M

16 platform investments since the 2024 vintage · largely deployed vs its usual 15 per fund.

Backed Deeploi, 2025 · SaaS, Germany

15. BID Equity SponsorVery High83

11 platform investments in Software & IT · 13 in Germany · 7 deals 2024–26

AUM €800M · BID Equity Continuation Fund I · 2025 vintage · deploying · check €6-45M

5 platform investments since the 2025 vintage · largely deployed vs its usual 5 per fund.

Backed everii, 2025 · SaaS, Germany

16. Apax Partners SponsorVery High82

35 platform investments in Software & IT · 6 in Germany · 21 deals 2024–26

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