Nordwind Growth
Also known as Nordwind Capital, NC Management GmbH, NC Growth Fund, Nordwind Growth / NC Growth Fund I
Munich growth-equity firm (since 2012; €500m AUM) leading €10–40m primary/secondary rounds in DACH tech companies; NC Growth Fund I closed at €145m in 2023, Fund II in market.
Munich tech growth-equity manager (NC Management GmbH), known as Nordwind Capital until about 2023; not Nordwind Airlines or other 'Nordwind' companies.
- HEADQUARTERS
- München, Germany
- FOUNDED
- —
- AUM
- €500M (2023)
- OUTSIDE CAPITAL
- Yes
- TEAM LISTED
- 9 people
Focus
- STAGES
- Growth
- ASSET MIX
- Private equity
- GEOGRAPHY
- GermanyAustriaSwitzerland
Overview
Nordwind Growth, formerly Nordwind Capital, is a Munich growth private equity firm that provides capital and strategic and operational support to technology companies in Germany, Austria and Switzerland. Active since 2012, it first invested deal by deal in more than ten companies and then raised NC Growth Fund I, which closed in November 2023 with €145m of commitments close to its hard cap, adding a global institutional LP base alongside entrepreneurs and industrial families; KfW Capital invested through the ERP-VC facility. It leads equity rounds of €10–40m in primary and secondary transactions across software, hardware, tech-enabled services, media and e-commerce, and reported €500m in assets under management. Its manager NC Management GmbH is a § 44 KAGB-registered AIF manager and EuVECA manager.
Investment thesis
Scalable, proven business models with outstanding founder teams, defensible tech-driven advantages and a history of cash-efficient growth, in DACH technology companies (KfW Capital: from about €3m revenue); €10–40m equity per deal as primary or secondary.
PORTFOLIO (13)
- PimcoreNOTABLESoftware & SaaS
- ProductsupNOTABLESoftware & SaaS
- Space · since 2026
- Consumer & E-commerce
- Industrial & Manufacturing
- Artificial Intelligence
- StackfieldSoftware & SaaS
- B2B Media GroupMedia & Entertainment
- smapOneSoftware & SaaS
- ibgIndustrial & Manufacturing
- trboSoftware & SaaS
- DriveLockSoftware & SaaS
- Saal DigitalConsumer & E-commerce
People
- Managing Director (NC Management GmbH) · source
- Managing Director (NC Management GmbH) · source
- Ulf SchwedaManaging Director (NC Management GmbH) · source
- Matthias SchwaighoferTeam member · source
- Johannes ErhardtTeam member · source
- Marius StoianTeam member · source
- Philipp ScheidtTeam member · source
- Leon RosenbergTeam member · source
- Lukas BeckmannTeam member · source
Links
Frequently asked questions
Nordwind Growth is a private equity fund based in München, Germany.
Yes. Nordwind Growth invests its own capital in private companies.
Nordwind Growth invests at Growth stage in Software & SaaS, Media & Entertainment, Consumer & E-commerce, Space and Industrial & Manufacturing.
Nordwind Growth's stated ticket size is €10M–€40M.
Key people at Nordwind Growth include Dr. Tom Harder (Managing Director (NC Management GmbH)), Christian Plangger (Managing Director (NC Management GmbH)), Ulf Schweda (Managing Director (NC Management GmbH)) and Matthias Schwaighofer (Team member).
Nordwind Growth's investments include Pimcore, Productsup, ENPULSION, You Mawo, Additive Scale, Brainsuite, Stackfield and B2B Media Group, among others.
The most recent publicly reported investment by Nordwind Growth is ENPULSION (Growth (EUR 22.5m financing round led by Nordwind Growth via NC Growth Fund I)), announced in Apr 2026.
Yes. Nordwind Growth manages capital from outside investors.