Software AG – Stiftung
Also known as SAGST, Software AG Stiftung
Darmstadt charitable foundation with about €1.3bn assets; invests directly in companies, real estate and securities, incl. renewable-energy stakes (Aventron, ewz Deutschland) and wind parks.
Independent charitable foundation in Darmstadt; not part of Software AG (the company), whose shares it sold in 2023.
- HEADQUARTERS
- Darmstadt, Germany
- FOUNDED
- 1992
- AUM
- €1.3B (2025)
- OUTSIDE CAPITAL
- No — own capital only
- TEAM LISTED
- 6 people
Focus
- STAGES
- —
- ASSET MIX
- Direct investmentsReal estatePublic equitiesImpact
- GEOGRAPHY
- GermanyEurope
Overview
The Software AG – Stiftung (SAGST) is an independent charitable foundation under civil law in Darmstadt, endowed in 1992 by Software AG founder Dr. h. c. Peter Schnell with all his Software AG shares, which it sold in 2023 for €721M. Its assets of about €1.3bn are invested on a principle of direct participation in companies, securities and real estate; per its 2025 report, real estate was 42%, two special funds of equities and bonds 33%, company participations 19% and liquidity 6%. Mission investments run across all asset classes. Recent direct investments include stakes in the Swiss green-power producer Aventron AG and in ewz Deutschland GmbH, and a KGAL-managed mandate of German wind parks and a Spanish solar park.
Investment thesis
Direct participation rather than speculation or derivatives: buys equities, bonds and real estate directly or takes direct stakes in companies, with mission investments tied to the foundation's purpose and sustainability criteria applied since autumn 2021.
PORTFOLIO (10)
- Aventron AGClimate & Energy · since 2025
- ewz Deutschland GmbHClimate & Energy · since 2026
- Solarpark Gerena, Andalusia (KGAL mandate)Climate & Energy · since 2025
- Windpark TeschendorfClimate & Energy · since 2026
- Deck 21, Düsseldorf (office)Real Estate & PropTech
- Berghöfe Frankfurt-Riedberg (residential)Real Estate & PropTech
- Energon Ulm (office)Real Estate & PropTech · since 2002
- Colours, Heidelberg Bahnstadt (mixed use)Real Estate & PropTech
- Franklin Village, Mannheim (residential)Real Estate & PropTech
- Software AG (shares sold in 2023)Software & SaaS · Exited
People
- Dr. h. c. Peter SchnellFounder; Chairman of the Executive Board (Vorstand, Vors.) · source
- Markus ZienerExecutive Board member, Asset Management / CFO · source
- Peter AugustinExecutive Board member, Communications · source
- David PreußExecutive Board member · source
- Dr. Johannes StellmannExecutive Board member · source
- Horst KinzingerChairman of the Board of Trustees (Kuratorium) · source
Links
Frequently asked questions
Software AG – Stiftung is a institutional investor based in Darmstadt, Germany, founded in 1992.
Yes. Software AG – Stiftung invests its own capital in private companies.
Software AG – Stiftung invests in Climate & Energy and Real Estate & PropTech.
Key people at Software AG – Stiftung include Dr. h. c. Peter Schnell (Founder; Chairman of the Executive Board (Vorstand, Vors.)), Markus Ziener (Executive Board member, Asset Management / CFO), Peter Augustin (Executive Board member, Communications) and David Preuß (Executive Board member).
Software AG – Stiftung's investments include Aventron AG, ewz Deutschland GmbH, Solarpark Gerena, Andalusia (KGAL mandate), Windpark Teschendorf, Deck 21, Düsseldorf (office), Berghöfe Frankfurt-Riedberg (residential), Energon Ulm (office) and Colours, Heidelberg Bahnstadt (mixed use), among others.
The most recent publicly reported investment by Software AG – Stiftung is Windpark Teschendorf (Wittingen, Lower Saxony) (Equity participation), announced in Aug 2026.
No. Software AG – Stiftung invests its own capital and does not raise money from outside investors.