Private Equity FundPuts its own capital into companiesActive · deal in last 18 monthsLAST VERIFIED Oct 2026 · 23 SOURCES

EMH Partners

Also known as EMH Partners GmbH, EMH Growth Fund, EMH Digital Growth Fund

Munich growth equity firm founded by Maximilian and Sebastian Kuss; over €1.5bn committed capital for 25–75% stakes of €50–200M in profitable DACH Mittelstand tech companies.

HEADQUARTERS: Munich, Germany
FOUNDED: 2010
AUM: €1.5B (2026)
OUTSIDE CAPITAL: Yes
TEAM LISTED: 15 people

Focus

STAGES: Growth
SECTORS: Software & SaaS HealthTech Consumer & E-commerce Media & Entertainment Fintech
ASSET MIX: Private equity
GEOGRAPHY: GermanyAustriaSwitzerlandEurope

Overview

EMH Partners grew out of the EMH Group, founded in 2010 by brothers Maximilian and Sebastian Kuss after they sold two technology companies; with family offices and co-investors they first invested more than €100 million in young tech and e-commerce firms. In 2016 they launched the EMH Digital Growth Fund strategy: EMH Growth Fund I closed at a €350 million hard cap (plus a €350 million co-investment programme) and Fund II at a €650 million hard cap in 2020. The firm reports more than €1.5 billion in committed capital from pension funds, insurers and leading European families, with the team also investing. It takes 25–75% stakes of €50–200 million in profitable, fast-growing technology-enabled Mittelstand companies with €50–500 million revenue, mainly in the DACH region, across healthcare, software and industries.

Investment thesis

Closes the gap between venture capital and classic buyout funds by providing growth equity to profitable Mittelstand companies with high digitalisation potential, supporting them through vision, growth and realisation phases over 5–10-year partnerships.

PORTFOLIO (13)

BrainlabNOTABLE
HealthTech · since 2018
OcchioNOTABLE
Consumer & E-commerce · since 2017
Native InstrumentsNOTABLE
Media & Entertainment · since 2017 · Exited (2021)
DIGITEC
Fintech · since 2025
Stonebranch
Software & SaaS · since 2024
Basalte
Consumer & E-commerce · since 2022
Liganova
Media & Entertainment · since 2019
AVANTGARDE
Media & Entertainment · since 2019
Snke
HealthTech · since 2025
Markup AI (formerly Acrolinx)
Software & SaaS · since 2022
Smarketer
Software & SaaS · since 2022
Cleverbridge
Software & SaaS · since 2022
Design Offices
Real Estate & PropTech · since 2018 · Exited (sale to IWG announced March 2026)

People

Maximilian Kuss
Co-Founder and Managing Partner · source
Sebastian Kuss
Co-Founder and Managing Partner · source
Jens Zuber
Partner · source
Philipp Englisch
Investment Director · source
Nicolas Höhne
Investment Director · source
Fabian Lang
Investment Director · source
Maurice Faber
Senior Vice President Investor Relations · source
Dr. Dirk Kramer
General Counsel · source
Michael Eißmann
Director Finance & Controlling · source
Heidi Janda
Managing Director Talent & Organizational Performance · source
Kiril Valev
Senior Vice President IT & Data · source
Christine Buchberger
Vice President Operations · source
Lorenz Essing
Senior Associate · source
Christoph Margotti
Senior Associate · source
Fenna Müller
Investment Manager · source

Frequently asked questions

EMH Partners is a private equity fund based in Munich, Germany, founded in 2010.

Yes. EMH Partners invests its own capital in private companies.

EMH Partners invests at Growth stage in Software & SaaS, HealthTech, Consumer & E-commerce, Media & Entertainment and Fintech.

EMH Partners's stated ticket size is €50M–€200M.

Key people at EMH Partners include Maximilian Kuss (Co-Founder and Managing Partner), Sebastian Kuss (Co-Founder and Managing Partner), Jens Zuber (Partner) and Philipp Englisch (Investment Director).

EMH Partners's investments include Brainlab, Occhio, Native Instruments, DIGITEC, Stonebranch, Basalte, Liganova and AVANTGARDE, among others.

The most recent publicly reported investment by EMH Partners is DIGITEC (Strategic minority investment), announced in Dec 2025.

Yes. EMH Partners manages capital from outside investors.