Koehler Group

Koehler Group

Koehler Group was founded in 2017 by René Marius Köhler following his exit from Internetstores, the bicycle and outdoor e-commerce company he built and sold to an investor consortium that included EQT. The single-family office is headquartered in Stuttgart, where it manages the Köhler family wealth with the posture of a permanent-capital investor — no external LP constraints, no fixed fund lifecycle. Allocation spans global technology equities, direct venture and growth-stage startup investments, fund commitments, and a substantial German real estate portfolio. On the venture side, Koehler Group operates through direct co-investments and fund-of-funds structures, with a stage appetite covering seed to late-stage companies. Its startup exposure is broad — 19 sector tags ranging from industrial tech and mobility to digital health and gaming — with a geographic footprint that extends across Europe, North America, Asia, and the Middle East. Confirmed co-investment relationships include Picus Capital, where Köhler sits on the board of the Picus Co-Investment & Growth Fund, and JetApp, the private aviation startup he co-founded with Philipp Schlüren. The real estate book is anchored by multi-family residential assets across ten DACH-region cities, logistics and office properties in Southern Germany, and commercial buildings in Stuttgart and Heilbronn, including the Kö29 mixed-use property on Königstraße. Köhler runs the office alongside a compact team that includes Director of Investments Alexander Fiess and Stephan Belser, who leads KOEHLER Equities, the group's UCITS fund vehicle for listed technology equities. An operator-investor, Köhler maintains formal advisory relationships with the firms that shaped his exit: he serves as an Industry Advisor to EQT and is a member of Partners Group's Entrepreneurs Circle. He also participates in Die Jungen Unternehmer, the German young entrepreneurs' association. The office carries no disclosed AUM, consistent with its single-family structure. Koehler Group operates as a hybrid: part direct private tech investor, part real asset owner, part public equities manager. The UCITS fund allows the family to take concentrated public-market tech bets alongside the illiquid startup and property commitments — a structure that provides permanent capital flexibility without the diversification mandates that constrain most institutional allocators.