Fritsch & Co

Fritsch & Co

Fritsch & Co was founded by Florian Fritsch to manage the assets and investment activities of multiple families from its base in Vaduz, Liechtenstein. The structure reflects a Central European multi-family office model, focused on direct principals and bespoke co-investment rather than aggregated fund products. The firm's early moves included anchoring Relayr, the Berlin-based IoT platform eventually sold to Munich Re in a landmark European industrial tech exit. The firm invests across private equity, venture capital, real estate, and distressed and turnaround situations. Its portfolio spans early-stage to post-IPO positions, with direct co-investments and special-purpose vehicles rather than blind-pool fund commitments dominating the deployment model. Geographic focus centers on Europe, with confirmed positions in energy transition, mobility, proptech, climate tech, and healthcare services. Notable investments include the electric-battery-maker Kreisel Electric — where Florian Fritsch co-invested alongside Gernot Friedhuber and Patrick Knapp Schwarzenegger, and later brought in Shell as a strategic partner (per Altss estimate, Shell alliance announced November 2020) — and the Relayr round that attracted Kleiner Perkins as a co-investor. In the distressed-track record, Fritsch co-acquired Jet Airways through the Jalan-Kalrock consortium alongside Murari Lal Jalan. The firm has maintained two known addresses on Städtle in Vaduz and has disclosed active affiliations with START Vaduz, the startup conference. In the SPAC cycle, Florian Fritsch partnered with Gisbert Rühl, former CEO of Klöckner & Co, and Josef Brunner, founder of Relayr, on the GFJ ESG SPAC project. A recent structural complication emerged in March 2025: Eva Fritsch, the founder's wife, filed a complaint alleging the fraudulent removal of gold from a safe, a dispute that parallels an ongoing earn-out litigation brought by Panebo Holding AG — the vehicle of financiers Urs Fähndrich and Wolfgang Eichhorn — over proceeds from the Kreisel Electric sale. Fritsch & Co's investment architecture blends operating-company relationships, special-situation activism, and corporate-strategic co-investment into a multi-family vehicle with unusually public transactional fingerprints. The combination of an early-stage industrial-tech track record, a distressed-airline consortium role, and the SPAC initiative signals a deal-making posture rather than a passive allocator model. The legacy of the Kreisel earn-out dispute and the associated litigation through the Swiss Investor Protection Association, founded by Fähndrich and Eichhorn, defines a governance complexity that distinguishes the firm's operating environment from quieter Liechtenstein fiduciary platforms.