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Family HoldingInvests its own capital directly in companiesLAST VERIFIED Oct 2026 · 11 SOURCES

Deutsche Balaton

Also known as Deutsche Balaton AG, Deutsche Balaton Aktiengesellschaft, Deutsche Balaton Broker-Holding AG

Heidelberg Beteiligungsgesellschaft in a group under Wilhelm K. T. Zours; holds 67.9% of Beta Systems Software; its group holds 62.2% of Biofrontera.

USEFUL FOR Co-investors

Heidelberg investment company; not to be confused with Deutsche Beteiligungs AG (also abbreviated DBAG) or Hungarian Lake Balaton entities.

Family & background

FAMILY
Wilhelm K. T. Zours
HEADQUARTERS
Heidelberg, Germany
FOUNDED
1991
OUTSIDE CAPITAL
No — own capital only

Investment approach

SECTORS
Software & SaaSBiotech & Life Sciences
GEOGRAPHY
Germany
ROUTES
Companies (own capital)
STRATEGIES
Direct investmentsPublic equities
LATEST DEAL
Biofrontera AG (Group stake increase: Zours/Deutsche Balaton group voting rights 61.20% (July 2024 notification) to 62.23% at an unchanged 6,076,862 total, i.e. about 62,500 more shares; means of acquisition not stated. The subsidiary Deutsche Balaton Biotech AG's 10% crossing (4.04% to 11.24%) matches SPARTA AG's 7.20% no longer being listed) · Nov 2024

Overview

Deutsche Balaton AG is a Heidelberg investment company founded in 1991 by Wilhelm K. T. Zours as Deutsche Balaton Broker-Holding AG; Zours has chaired its supervisory board since 2004. It reports the segments 'Vermögensverwaltend', 'Beta Systems' and 'Biofrontera', and holds 67.9% of Beta Systems Software AG and directly 31.38% of the voting rights in Biofrontera AG, where the Zours/Deutsche Balaton group holds 62.2% in total. For 2025 it reported preliminary IFRS group equity of EUR 663.9m, of which EUR 602.7m attributable to its shareholders.

Investment thesis

Beteiligungsgesellschaft investing in listed and unlisted securities and company stakes, including restructuring situations such as the 2016 recapitalisation of Ming Le Sports AG.

Holdings & investments (2)

  • Beta Systems Software AGNOTABLE
    Software & SaaS · 67.9% (August 2026)
  • Biofrontera AG
    Biotech & Life Sciences · Majority: Zours/Deutsche Balaton group 62.23% of voting rights (Deutsche Balaton AG 31.38%, its subsidiary Deutsche Balaton Biotech AG 11.24%, DELPHI Unternehmensberatung AG 19.61%; Nov 2024 notification); reported as own segment from 2025

People

  • Dr. Martin Flick
    Investor Relations contact · source
  • Alexander Link
    Member of the Management Board (since 2020) · source
  • Wilhelm K. T. Zours
    Founder; Chairman of the Supervisory Board (since 2004) · source

Frequently asked questions

Deutsche Balaton is a family holding based in Heidelberg, Germany, founded in 1991.

Deutsche Balaton invests on behalf of the Wilhelm K. T. Zours family.

Deutsche Balaton invests directly in companies, not through funds. Capital origin: the family's own capital. Stated strategies include direct investments and public equities.

Deutsche Balaton invests in Software & SaaS and Biotech & Life Sciences.

Key people at Deutsche Balaton include Alexander Link (Member of the Management Board (since 2020)), Wilhelm K. T. Zours (Founder; Chairman of the Supervisory Board (since 2004)) and Dr. Martin Flick (Investor Relations contact).

Deutsche Balaton's disclosed holdings and investments include Beta Systems Software AG and Biofrontera AG.

The most recent publicly reported investment by Deutsche Balaton is Biofrontera AG (Group stake increase: Zours/Deutsche Balaton group voting rights 61.20% (July 2024 notification) to 62.23% at an unchanged 6,076,862 total, i.e. about 62,500 more shares; means of acquisition not stated. The subsidiary Deutsche Balaton Biotech AG's 10% crossing (4.04% to 11.24%) matches SPARTA AG's 7.20% no longer being listed), announced in Nov 2024.

No. Deutsche Balaton invests its own capital and does not raise money from outside investors.