What INVEST AG does

INVEST AG is an Austrian Private Equity firm founded in 1994 by Raiffeisenlandesbank Oberösterreich and headquartered in Linz, with additional offices in Vienna and Munich. The firm operates an evergreen fund — capitalized by anchor investors from the Austrian Raiffeisenbankengruppe including Raiffeisenlandesbank Oberösterreich, Raiffeisenlandesbank Steiermark, and Raiffeisenverband Salzburg — which allows it to provide equity and equity-like capital without traditional fund-life-cycle exit pressure. As of 2024, INVEST AG manages over €500 million in assets across 54 active portfolio companies and has executed more than 200 investments since inception, with portfolio companies collectively generating approximately €15.7 billion in revenue and supporting 136,000 jobs.

INVEST AG primarily invests in profitable Mittelstand companies across Austria, Germany, and Switzerland, taking predominantly minority positions with typical equity tickets ranging from €2 million to €40 million (minimum €0.3 million in Austria, €2.5 million in Germany) per transaction, expandable through a co-investor network for larger deals. Its service offering spans growth financing, succession solutions, management buy-outs, management buy-ins, carve-outs from larger corporates, and turnaround situations, with cross-sector coverage including consumer goods, industrials, technology, software, food, pharma and life sciences, and medical technology. The firm complements capital provision with strategic sparring, network access via its Equity Lounge platform connecting portfolio companies to industry and political decision-makers, and selective geographic expansion — notably its January 2026 entry into Italy via a minority stake in South Tyrolean IT services provider Systems GmbH.

Commercially, INVEST AG generates revenue from management fees on its assets under management and carried interest on successful exits; it does not publicly disclose fee schedules or standalone financials. In September 2025, the firm secured one of the first AIFMG § 4 concessions from the Austrian Financial Market Authority (FMA), simultaneously restructuring from AG to AG & Co KG via universal succession — steps that elevate regulatory standing and create a platform for future third-party capital raising beyond the Raiffeisen LP base. The investment team comprises roughly 20+ professionals with backgrounds in M&A advisory, banking, and consulting, led by CEO Dr. Gernot Hofer (since 2023), CFO Mag. Christoph Hikes, CFA, and COO Philipp Schupfer.

Name

INVEST AG

Legal name

IAG Invest Management AG

Website

https://investag.at

Company type

Private

Founded year

1994

Operating status

Operating

Headcount range

11–50 employees

Short description

INVEST AG is an Austrian Private Equity firm founded in 1994 that provides minority equity capital to Mittelstand companies in Austria, Germany, Switzerland, and now Italy, operating an evergreen fund with over €500 million in assets under management across 54 active portfolio companies.

Ownership category

akta.pro rank

Product category

Private Equity Investment Management

NAICS

Portfolio Management and Investment Advice (52394), All Other Financial Investment Activities (52399), Other Financial Investment Activities (5239)

SIC

Investment Advice (6282), Services-Management Consulting Services (8742)

akta.pro primary industry

Equity Capital Advisory (Private Equity Placements, Growth Capital) (BPAHAOAE)

akta.pro secondary industry

Capital Raising Advisory (Debt/Equity/Private Capital) (BPAHADAG)

Keywords

• Private equity investments
• Equity capital financing
• Management buy-outs
• Growth capital financing
• Succession planning solutions

Headquarters

HQ city

Linz

HQ country

Austria

HQ region

Europe

Offices3 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D, Others

Revenue model

1. Private Equity Returns: INVEST AG generates returns through equity investments in Mittelstand companies, typically taking minority or majority stakes. Their revenue comes from management fees on Assets under Management and carried interest from successful exits.
2. Investment Management Services: Provides equity capital, equity-like capital, and mezzanine capital to companies of various sizes in the DACH region.

Go-to-market motion1 record

Distribution channels3 records

Marketing channels5 records

Core offering

INVEST AG is an Austrian private equity fund manager that provides equity capital, equity-like capital, and mezzanine capital to small and medium-sized (Mittelstand) companies in Austria, Germany, and Switzerland. Operating an Evergreen fund structure, it typically invests €0.3M–€40M per transaction (minimum €2.5M in Germany), primarily as a minority investor, and supports companies through growth financing, management buy-outs, succession solutions, carve-outs, and turnaround situations.

Product overview

INVEST AG is a Private Equity firm providing equity capital and mezzanine capital for medium-sized companies in Austria, Germany, and Switzerland. The company operates an evergreen fund structure without exit pressure, allowing long-term partnerships. Its core offerings include Management Buy-Out financing, succession solutions, carve-out support, growth financing, and turnaround solutions. The firm manages approximately €500 million in assets and typically invests €2-50 million per transaction. INVEST AG also offers the Equity Lounge, a network platform connecting portfolio companies with industry contacts. The firm has a broad industry focus including consumer goods, industry, technology, software, food, pharma & life sciences, and medical technology.

Differentiator

Problem solved

Functional benefit

Brands

• Equity Lounge: Network platform connecting INVEST AG's portfolio companies with relevant decision-makers in industry, SMEs, and politics
• Green Investing

Products and services

• Private Equity Investments Core offering: provides equity capital and equity-like capital for medium-sized companies in the German-speaking region (Austria, Germany, Switzerland) without exit pressure through INVEST AG's Evergreen fund structure; typically invests €0.3M–€40M per transaction (minimum €2.5M in Germany) and acquires majority or minority positions.
• Mezzanine Capital Provides mezzanine capital as part of INVEST AG's financing solutions for portfolio companies, typically combined with equity investments. Targets Mittelstand companies in the DACH region requiring hybrid capital structures.
• Management Buy-Out (MBO) Financing Supports management teams in acquiring companies and taking ownership stakes through structured MBO transactions. Designed for DACH Mittelstand management teams pursuing buyout opportunities with INVEST AG as a long-term equity partner.
• Succession Solutions Facilitates identity-preserving succession solutions for family-owned businesses transitioning to new ownership. Designed for owner families and founders in Austria, Germany, and Switzerland seeking a long-term equity partner.
• Carve-Out Support Supports companies in separating business units or divisions from parent organizations through structured carve-out transactions. Designed for corporates divesting non-core units and the resulting independent Mittelstand entities.
• Growth Financing Provides capital for companies seeking to accelerate growth, expand into new markets, or pursue acquisition strategies. Targets DACH Mittelstand companies planning international expansion or inorganic growth.
• Turnaround Solutions Supports companies in restructuring situations to stabilize operations and position for future growth. Designed for challenged DACH Mittelstand firms requiring equity capital and operational sparring-partner support.
• Equity Lounge A network platform connecting INVEST AG portfolio companies with industry decision-makers, offering valuable contacts across Austrian and German industry, associations, and politics. Designed for portfolio company management teams to access INVEST AG's broader Raiffeisen and industry network.

Quantifiable outcome

• Over €500 million assets under management
• +4 more outcomes

Named customers4 records

Segments2 records

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

One partnership is on record.

• Equity Lounge NetworkcoreStrategic or Co-development PartnerNetwork connecting INVEST AG portfolio companies with industry leaders, decision-makers, and Mittelstand contacts to create value through networking and best practice sharing.

Scale indicators7 records

Recent moves7 records

Expansion highlights5 records

Direct peers

• ECM Equity Capital Management: Frankfurt-based PE manager investing equity capital in German Mittelstand companies. Comparable to INVEST AG on minority/majority equity tickets, succession and MBO focus, and ticket size in the lower-mid market.
• Afinum (formerly Lewisco GmbH): Munich-based PE firm focused on DACH Mittelstand buy-and-build and succession transactions. Comparable to INVEST AG on target segment, ticket size, and majority/minority equity strategies.
• VR Equitypartner: German PE firm owned by the cooperative banking sector (DZ Bank group). Directly comparable to INVEST AG in business model (cooperative-bank-anchored PE), DACH Mittelstand focus, and growth/buy-and-build financing.
• SHS Capital: German PE firm investing in healthcare, life sciences, and industrial Mittelstand companies. Comparable to INVEST AG in equity ticket sizing and DACH focus, with notable overlap in life sciences (e.g., HeartBeat.bio).
• BayBG Bayerische Beteiligungsgesellschaft: Bavarian state-backed PE firm providing equity capital to Mittelstand SMEs in Germany. Closely comparable to INVEST AG in target customer segment (regional Mittelstand), minority equity focus, and bank-group affiliation (Bavarian savings banks).
• Mittelständische Beteiligungsgesellschaft (MBG) Austria: Austrian state-backed PE firm providing equity capital to Austrian SMEs. Closely comparable to INVEST AG on target geography (Austria), Mittelstand customer base, and minority equity ticket strategy.
• MBG Mittelständische Beteiligungsgesellschaft Baden-Württemberg: German Mittelstand PE provider backed by the state of Baden-Württemberg and local banks. Directly comparable to INVEST AG on minority equity tickets, succession and growth financing for SMEs, and regional bank-network deal sourcing.

Broad incumbents

• Argos Wityu: European mid-market PE firm with DACH presence. Comparable in Mittelstand equity investing and ticket sizes, though operating with a broader geographic mandate and larger fund vehicles.
• Deutsche Beteiligungs AG (DBAG): Listed German PE firm with significantly larger AUM (~€2.5B) and a broader DACH focus. Comparable in DACH Mittelstand investing but operates at a much larger scale with both minority and majority structures.
• Tengelmann Ventures / Tengelmann Group PE: Family-owned German conglomerate with active PE investments across DACH. Overlaps with INVEST AG on minority equity in Mittelstand, though operating across a broader asset base and holding structures.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/invest-unternehmensbeteiligungs-ag/?viewAsMember=true

Revenue estimate

Valuation estimate

Number of profiles

Profiles19 records

Funding overview

Funding rounds

Investors

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

M&A

Investments5 records

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

Frequently asked questions about INVEST AG