What AGIC Capital does

AGIC Capital is a growth-oriented European-Asian private equity firm founded in 2015 by Henry Cai (former Deutsche Bank and UBS Asia investment banking chairman) and headquartered in Munich, Germany. The firm manages US$2.2 billion in assets under management across two blind-pool funds — Fund I (US$1.0 billion, final close February 2017) and Fund II (US$1.2 billion, final close September 2021) — and invests between €50-250 million per company in majority and significant minority transactions targeting enterprise values of US$50-500 million. Its investment thesis targets two verticals: advanced industrial technology (engineered products and systems, specialty materials and chemicals, B2B distribution) and healthcare technology (medical devices and consumables, life science tools and services, CDMO/CRO, regulatory and quality). The firm's defining proposition is hands-on cross-border value creation, helping European-headquartered mid-market companies expand into Asian markets — particularly China — through local teams in Hong Kong, Shanghai and Beijing, a bench of senior industry advisors, and operational support covering go-to-market, pricing, salesforce effectiveness, and add-on M&A.

AGIC generates revenue through management fees and carried interest on its investment funds, with capital sourced from institutional investors including family offices, pension funds and sovereign wealth funds; Fund II was largely subscribed by existing LPs re-upping from Fund I. The firm has executed approximately fifteen platform deals and six disclosed exits over a decade, including Gimatic (sold to Barnes Group for €370 million in 2018), KraussMaffei Group (IPO and subsequent sale to ChemChina), Fotona (sold to Vitruvian Partners in 2021 with AGIC reinvesting), Ritedose (sold to Novo Holdings in 2022), Farsound (sold to Onex in August 2024) and Compart (exited July 2025). Current and recent portfolio companies span industrial automation (Gimatic, PR Electronics), medical devices (Fotona, AP Technologies), pharmaceutical manufacturing (Ritedose, ATEC Pharmatechnik), aerospace MRO supply chain (Farsound), lithography (Eulitha), roll-to-roll and EV battery manufacturing (Grafotronic), premium packaging (Pure Trade), dental consumables (Solmetex) and thin-film coatings (Soleras). The firm operates with 25+ investment professionals across six offices — Munich (headquarters), London, Paris, Hong Kong, Shanghai and Beijing — supported by senior advisors including former executives of GE, NXP, Porsche, Mycronic, Manz AG, Swisslog, Knorr-Bremse and a former German Minister of Economics.

Name

AGIC Capital

Legal name

AGIC Partners GmbH

Website

https://agic-group.com

Company type

Private

Founded year

2015

Operating status

Operating

Headcount range

11–50 employees

Short description

AGIC Capital is a Munich-headquartered European-Asian private equity firm with US$2.2B AUM, investing €50–250M per deal in advanced industrial and healthcare technology companies with a focus on cross-border expansion into Asian markets.

Ownership category

akta.pro rank

Product category

Private Equity Investment Management

NAICS

Other Financial Vehicles (52599), Other Investment Pools and Funds (5259), Portfolio Management and Investment Advice (523940), Other Financial Investment Activities (5239)

SIC

Investors, Nec (6799), Security Brokers, Dealers & Flotation Companies (6211), Investment Advice (6282)

akta.pro primary industry

Agriculture & Food / AgTech Growth Equity (FSANACAM)

akta.pro secondary industries

Equity Capital Advisory (Private Equity Placements, Growth Capital) (BPAHAOAE), Corporate Finance & Capital Advisory (BPAHADAB)

Keywords

• Private equity investments
• Growth capital
• Industrial technology
• Healthcare investments
• Cross-border M&A

Headquarters

HQ city

Shanghai

HQ country

China

HQ region

Asia

Offices6 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Others

Revenue model

1. Private Equity Returns: AGIC Capital generates returns through management fees and carried interest from its investment funds. Fund II raised US$1.2 billion, reflecting investor appetite for their investment strategy.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels1 record

Core offering

AGIC Capital is a private equity firm that manages investment funds providing growth capital of €50–250 million per transaction to mid-market European companies in advanced industrial technology and healthcare technology sectors. It acquires majority and minority equity stakes and works hands-on with portfolio company management teams to execute international growth strategies, particularly expansion into Asian markets. The firm generates returns through capital appreciation, exits via trade sales or IPOs, and supporting add-on M&A within portfolio companies.

Product overview

AGIC Capital is a private equity firm, not a product or technology company. It does not offer products or services in the traditional sense. The firm manages investment funds and acquires stakes in portfolio companies across advanced industrial technology and healthcare technology sectors. AGIC Capital's portfolio includes companies such as AP Technologies (medical device contract manufacturing), Pure Trade (premium packaging supply chain), PR Electronics (signal conditioning devices), ATEC Pharmatechnik (aseptic processing solutions), Fotona (medical laser systems), Farsound (aerospace supply chain), Eulitha (nano-UV lithography equipment), Grafotronic (roll-to-roll automated manufacturing solutions), Gimatic (industrial automation components), KraussMaffei (plastics/rubber processing machinery), Ritedose (pharmaceutical BFS manufacturing), Compart (gas delivery systems), and Soleras (sputtering targets and equipment). These are portfolio company investments, not AGIC Capital's own products.

Differentiator

Problem solved

Functional benefit

Products and services

• AGIC Fund I AGIC's first private equity fund, a US$1 billion blind-pool vehicle that invests majority and minority equity into European small- and mid-cap companies in intelligent manufacturing, high-end equipment, advanced materials, medical technologies, and environmental protection technologies, with a focus on supporting portfolio companies' expansion into Asian markets, particularly China. The fund is offered to qualified institutional investors.
• AGIC Fund II AGIC's second private equity fund, a US$1.2 billion blind-pool vehicle that makes majority and significant minority investments with enterprise values typically in the range of US$50–500 million in advanced industrial and medical technology companies in Europe and beyond. The fund is offered to qualified institutional investors and re-ups with existing LPs from Fund I.
• Growth Capital Investments in Advanced Industrial Technology Equity capital and hands-on operational support for European mid-market companies in engineered products & systems, specialty materials & chemicals, and B2B distribution sectors, with cheque sizes between €50–250 million per company and enterprise values of €100–500 million.
• Growth Capital Investments in Healthcare & Life Sciences Technology Equity capital and hands-on operational support for European mid-market companies in medical devices & consumables, life science tools & services, and specialty healthcare services (CDMO, CRO, regulatory compliance & quality) sectors, with cheque sizes between €50–250 million per company.

Quantifiable outcome

• Successful exits from 6 investments including Gimatic (€370M to Barnes Group), KraussMaffei Group (IPO), Fotona (to Vitruvian), Farsound (to Onex), Soleras, and Ritedose (to Novo Holdings)

Named customers8 records

Segments2 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Scale indicators5 records

Recent moves11 records

Expansion highlights6 records

Direct peers

• Cathay Capital: European-Asian cross-border private equity firm with parallel thesis of bridging Western mid-market companies with Asia growth. Closest direct competitor in size, geography, and sector focus.
• Affirma Capital: Asia-focused private equity firm (formerly Standard Chartered Private Equity) investing in mid-market companies across Asia with similar cross-border value creation approach.
• Gimv: European mid-market private equity firm with strong industrial technology and healthcare/life sciences exposure, comparable AUM scale and sector overlap.
• Avista Capital Partners: Healthcare-focused middle-market private equity firm, comparable in check size and healthcare technology investment thesis.
• IK Partners: European mid-market private equity firm with comparable deal size, industrial and healthcare sector focus, and growth-oriented investment approach.
• Baring Private Equity Asia: Asia-focused private equity firm with significant cross-border China investment activity and comparable mid-market industrial exposure.
• Triton Partners: European mid-market private equity firm with strong industrial and B2B services focus, comparable investment size and sector concentration.

Regional players

• Creador: Southeast Asia-focused growth equity firm with comparable mid-market investment size and consumer/industrial sector breadth, though Asia-only focus.

Broad incumbents

• EQT Partners: Major European private equity firm with significant healthcare and industrial technology exposure at scale, representing a broader incumbent in the same sectors.
• Permira: Large European private equity firm with healthcare and industrial technology investment activities, providing broader incumbent comparison for sector and deal-size overlap.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat4 records

Key risks5 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/agic

Revenue estimate

Valuation estimate

Number of profiles

Profiles20 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A9 records

Investments5 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about AGIC Capital