Buyer landscape

Likely buyers · AI/ML in Austria.

Prepared 2026-08-28 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 20 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. Swanlaab Venture Factory SponsorVery High83

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 Dolfin, 2026 · AI/ML, Spain

2. Armira SponsorVery High81

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 PartSpace, 2025 · AI/ML, Germany

3. 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

4. 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

5. Deutsche Telekom Capital Partners SponsorVery High79

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 SPREAD AI, 2026 · AI/ML, Germany

6. 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

7. EQT SponsorVery High78

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 Lovable, 2025 · AI/ML, Sweden

8. 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

9. Hg SponsorVery High78

48 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.

Bought CUBE from Bregal Milestone, 2024 · AI/ML, UK

10. 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

11. 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

12. Apax Partners SponsorVery High77

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

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