Cipio Partners

Focus

STAGES

Growth

SECTORS

Software & SaaSDeep TechArtificial IntelligenceSpace

ASSET MIX

Private equity

GEOGRAPHY

Europe

Overview

Cipio Partners was founded in 2003 and describes itself as an independent, partner-owned boutique investing growth capital and minority buyouts in European technology companies, mainly software, software-enabled businesses and, selectively, deeptech. It targets companies with more than €10 million in annualised revenue and makes initial investments of €5–15 million, providing capital for organic growth, acquisitions and liquidity for early shareholders. The investment team works from Munich (Cipio Partners GmbH), while the Luxembourg entity Cipio Partners S.à r.l. runs fund operations. Its latest fund, Cipio Partners Fund VIII, closed at €202 million in May 2022 with institutional and family-office investors from Europe and the US.

Investment thesis

Focuses on European growth-stage technology businesses that have moved beyond the early stage, with proven products, strong revenues, rapid growth and a clear path to profitability, and that are ready to scale globally; joins boards and works hands-on with management.

PORTFOLIO (70)

• Isar AerospaceNOTABLE
  Space · since 2026
• Welcome to the JungleNOTABLE
  Software & SaaS · since 2023
• ResearchGateNOTABLE
  Software & SaaS
• WireNOTABLE
  Software & SaaS · since 2022
• NavVisNOTABLE
  Software & SaaS · since 2021
• BrightpearlNOTABLE
  Software & SaaS · Exited to Sage Group (LSE: SGE) in 2021
• OpenetNOTABLE
  Software & SaaS · Exited to Amdocs (NASDAQ: DOX) in 2020
• DisplayLinkNOTABLE
  Deep Tech · Exited to Synaptics (SYNA), in 2020
• ImpinjNOTABLE
  Deep Tech · Public (NASDAQ: PI) since 2016
• u-bloxNOTABLE
  Deep Tech · Exited of shares via the public market in 2009
• Giraffe360
  Real Estate & PropTech · since 2026
• Dawn Health
  HealthTech · since 2026
• Hololight
  Software & SaaS
• Druid AI
  Artificial Intelligence · since 2025
• Conceptboard
  Software & SaaS · since 2025
• spiideo
  Software & SaaS · since 2024
• FintechOS
  Fintech · since 2024
• Nuki
  Consumer & E-commerce · since 2021
• CrowdFarming
  Food & Agriculture
• Speexx
  Software & SaaS
• Microoled
  Deep Tech · since 2020
• whisbi
  Software & SaaS · Exited
• agorapulse
  Software & SaaS
• Zappi
  Software & SaaS
• Addvance
  Consumer & E-commerce
• Launchmetrics
  Software & SaaS
• Blackwood Seven
  Software & SaaS · Exited: Blackwood Seven exited to The Kantar Group in 2022
• EyeEm
  Software & SaaS · Exited to Talenthouse AG (SIX: THAG) in 2021
• B2X
  Software & SaaS
• Falcon.io
  Software & SaaS · Exited to Cision Ltd. (NYSE: CISN) in 2019
• tyntec
  Software & SaaS
• Silicon Mobility
  Mobility & Logistics · Exited: Silicon Mobility exited to Intel Corp. (NASDAQ: INTC) in 2024
• SafeGuard
  Software & SaaS · Exited in 2020
• Verimatrix
  Software & SaaS · Exited: Exit to Inside Secure in 2019
• MyOptique
  Consumer & E-commerce · Exited to Essilor Group in 2016
• lastminute.com
  Consumer & E-commerce · Public (SIX: LMN) since 2014
• Cint
  Software & SaaS · Exited to Nordic Capital in 2016
• wywy
  Software & SaaS · Exited through secondary sale in 2017
• Seed
  Consumer & E-commerce · Exited to Britax/Römer in 2017
• softgarden
  Software & SaaS · Exited to Investcorp in 2018
• 21 Sportsgroup
  Consumer & E-commerce · Exited in 2020
• Voddler
  Software & SaaS · Exited
• BrainsGate
  HealthTech
• Advalytix
  Deep Tech · Exited to Olympus Corporation, Japan, in 2005
• alfabet
  Software & SaaS · Exited to Software AG (Xetra: SOW) in 2013
• Bitboys
  Deep Tech · Exited to ATI Technologies Inc., Canada, in 2006
• BroadLight
  Deep Tech · Exited to Broadcom (NASDAQ: BRCM) in 2012
• BuyVip
  Consumer & E-commerce · Exited to Amazon (NASDAQ: AMZN) in 2010
• Captor
  Software & SaaS · Exited to Kronos, Inc., MA, US, in 2007
• Continous Computing
  Software & SaaS · Exited to Radysis (NASDAQ: RSYS) in 2011
• Definiens
  HealthTech · Exited to AstraZeneca/MedImmune (NYSE: AZN) in 2014
• DiBcom
  Deep Tech · Exited to Parrot SA, France, in 2011
• Ipanema
  Software & SaaS · Exited to Infovista S.A., France, in 2015
• Dune Networks
  Deep Tech · Exited to Broadcom (NASDAQ: BRCM) in 2009
• eCircle
  Software & SaaS · Exited to TA Associates in 2009
• eMaze
  Software & SaaS · Exited through secondary sale in 2013
• EnOcean
  Deep Tech · Exited to SET Venture Partners, Netherlands, in 2009
• Ethernity Networks
  Deep Tech · Public (LSE:ENET) since 2017
• Fortemedia
  Deep Tech · Exited through secondary sale in 2024
• Jungo
  Software & SaaS · Exited to NDS Group Plc, UK, in 2006
• Medisim
  HealthTech · Exited through secondary sale in 2016
• NaWoTec
  Deep Tech · Exited to Carl Zeiss AG, Germany, in 2005
• NEXNET
  Software & SaaS · Exited to MR.NET GmbH & Co. KG, Germany, in 2007
• NovoGI
  HealthTech · Exited
• Onzo
  Climate & Energy · Exited to geo in 2021
• PicoChip
  Deep Tech · Exited to Mindspeed (NASDAQ: MSPD) in 2012
• Saifun
  Deep Tech · Public (NASDAQ: SFUN)
• SFC
  Climate & Energy · Exited to Conduit Ventures, UK, in 2009
• Tevet
  Deep Tech · Exited to Nanometrics (NASDAQ: NANO) in 2008
• 1-2-3.tv
  Media & Entertainment · Exited to ARCUS Capital in 2016

People

• Roland Dennert
  Managing Partner · source
• Dr. Hans-Dieter Koch
  Managing Partner; Manager of the Luxembourg entities; co-founder (2003) · source
• Diana Meyel
  Managing Partner and COO; Manager of the Luxembourg entities · source
• Dr. Ansgar Kirchheim
  Partner · source
• Werner Dreesbach
  Founding Partner · source
• Thomas Lenz
  Principal · source
• Nils Matthies
  Principal · source
• David Kreppel
  Chief Financial Officer · source
• Kerstin Planitzer-Zipf
  Chief Compliance Officer · source
• Christoph N. Kossmann
  Manager of the Luxembourg entities · source
• Carlo Schlesser
  Manager of the Luxembourg entities · source

Links

• Website
• LinkedIn

Frequently asked questions