The 5 Most Active German Family Offices in 2025

In 2025, German family offices continue to play an increasingly visible role in the global investment landscape. With diverse strategies ranging from early-stage technology funding to long-term industrial and life-science commitments, German family office have become important participants across several market segments. Their flexibility, sector expertise and ability to invest over extended time horizons allow them to pursue opportunities that traditional investors may overlook. This article highlights five family offices that have shown notable activity and strategic development in 2025: D11Z. Ventures, Viessmann Generations Group, Peter Möhrle Holding, THI Investments and Santo Holding, and is based on the exclusive familyofficehub.io’s German family office database.

1. D11Z. Ventures (Dieter Schwarz family)

D11Z. Ventures has emerged in 2025 as one of the most dynamic early-stage investment platforms backed by the capital of German entrepreneur and billionaire Dieter Schwarz. Operating as an evergreen, single-LP family office fund, D11Z focuses on European B2B technology startups with a strong preference for SaaS, artificial intelligence and deep-tech models. The firm maintains an unusually visible presence for a family-backed investor, regularly announcing new financings and positioning itself alongside top-tier institutional VCs. Recent activity includes the extension of the seed round for the Cologne-based DevOps platform mogenius to €3 million in March 2025, demonstrating the firm’s willingness to support follow-on rounds and accelerate product development. With a strategy built on patient but high-conviction early-stage investing, D11Z. Ventures has become one of Germany’s most active and influential family-office players in the VC ecosystem.

2. Viessmann Generations Group (Viessmann family)

Viessmann Generations Group is undergoing one of the most ambitious strategic transformations in the German family-office landscape following the multibillion-euro sale of Viessmann’s Climate Solutions division to Carrier in 2023. Throughout 2024 and 2025, the family has been methodically redeploying capital into a newly structured investment and holding platform focused on climate technology, energy systems, resilient infrastructure, health and education. Acquisitions such as the Munich-based wealth manager Do Investment and the Gritec Group (already in 2024) reflect a deliberate move toward a long-term investment house capable of combining direct investments, sustainability-driven initiatives and philanthropic programs. In addition, the family office also pledged a multi-million euro amount to Munich-based TUM VentureLabs, to build up a „Climate & Circular Lab”. Fittingly, the family office is also an active venture capital investor, for instance in everwave. The appointment of experienced financial leadership and continued expansion of impact-oriented projects underline the Group’s rapid professionalization and make Viessmann one of the most strategically active family offices in Europe this year.

3. Peter Möhrle Holding (Möhrle family)

Peter Möhrle Holding, the Hamburg-based family office known for its long-term Mittelstand investments, continues to be highly active in the German mid-market in 2025. The firm maintains a clear entrepreneurial identity, taking significant or majority stakes in established companies across sectors such as software, business services and consumer goods. One of the most notable recent transactions is the acquisition of a majority interest in YellowFox, a leading telematics and fleet-management software provider in the DACH region. In addition, the Möhrle family office pursues an active real estate investment strategy. With a portfolio that evolves through both acquisitions and selective divestments, Peter Möhrle Holding reinforces its position as one of the most active and strategically disciplined family-owned investment platforms in Germany.

4. THI Investments (Hagenmeyer family)

THI Investments, the privately owned pan-European investment platform of the Hagenmeyer family, has been particularly active in 2025, reinforcing its position as one of Europe’s most specialised mid-market investors in education and business services. With more than €2 billion in assets under management and offices in Stuttgart, London and Munich, THI continues to focus on high-growth businesses undergoing transformation, deploying flexible capital and operational support across Western Europe. Its most visible recent transaction is the acquisition of a majority stake in the Empowering Learning Group (ELG), the UK’s leading provider of specialist behaviour-management training and teacher recruitment. Founded in 2017 and expanded through the acquisition of Team Teach, ELG today trains more than 110,000 delegates annually and supports over 10,000 schools, addressing rising post-pandemic behavioural challenges and staff shortages. THI’s investment, alongside ELG’s management and with minority reinvestment from Graphite Capital, will support ELG’s accelerated UK expansion, internationalisation and complementary M&A strategy, positioning the company as a global leader in mission-critical education services. This new platform investment follows THI’s successful sale of Corndel, the UK’s leading professional apprenticeship provider, to Galileo Global Education at the end of 2024. During its four-year partnership with Corndel, THI helped the company triple its learners to around 7,500, launch Corndel College London, refinance its operations, and expand into digital and data-focused programmes, turning it into an essential training partner to 40% of the FTSE 100 and major public-sector institutions.

5. Athos KG / Santo Holding (Strüngmann family)

Santo Holding and Athos, the investment platforms of Andreas and Thomas Strüngmann, remain one of Europe’s most influential family offices in 2025, continuing its long-standing focus on biotechnology, pharmaceuticals and advanced healthcare technologies. Building on decades of sector experience following the family’s success with Hexal, Santo prioritizes companies developing transformative medical therapies and maintains meaningful positions in several leading European biotech firms. In 2025, one of the most prominent developments in the Strüngmann investment universe was the participation of Athos KG—another Strüngmann family vehicle—in AAVantgarde Bio’s $141 million Series B round, one of the largest European biotech financings of the year. AAVantgarde, a clinical-stage company advancing gene-based treatments for inherited retinal diseases, attracted a global syndicate including Schroders Capital, Amgen Ventures and Forbion, with the new capital earmarked to complete proof-of-concept studies for Stargardt disease and Usher 1B syndrome.

Picture Source: Getty Images (17.11.2025)