# M Cap Finance

M Cap Finance is an Asset Manager based in Frankfurt, Germany.

## Overview

- **Organization type:** Asset Manager
- **Headquarters:** Frankfurt, Germany
- **Region:** Europe
- **Address:** 60322 Frankfurt am Main, Deutschland
- **Founded:** 2004
- **Assets under management:** Undisclosed
- **Website:** www.mcap-finance.de
- **LinkedIn:** https://linkedin.com/company/m-cap-finance

## Regulatory record

- **Reports private funds:** No

## About

M Cap Finance is an independent management company based in Germany. It initiates equity and mezzanine capital funds. The firm has made two investments, including a November 17, 2021, investment in L&R Kaltetechnik as part of its Mezzanine fund.

## Sectors

- Private Equity
- Private Credit
- Turnaround & Restructuring

## People

- Lars Gehlhaar — Geschäftsführer
- Ronny Fechner — Geschäftsführer
- Constantin Vogel — Geschäftsführer
- Dr. Frank Golland — Gründer
- Dietmar Westermann — Gründer

## Questions

### Who runs investment decisions at M Cap Finance?

Investment decisions are made by the three managing directors: Lars Gehlhaar, Ronny Fechner, and Constantin Vogel, each of whom has served in that role since 2019. Founders Dr. Frank Golland and Dietmar Westermann remain listed separately as Gründers, though day-to-day management sits with the three Geschäftsführers.

### How does M Cap Finance source its deal flow?

M Cap Finance does not publicly detail its sourcing model, but the firm targets established Mittelstand companies across the DACH region and structures situations where existing shareholders need growth, succession, or recapitalisation capital without ceding control.

### Does M Cap Finance make fund commitments or only direct investments?

M Cap Finance conducts both direct investments and acts as an initiator of mezzanine and equity funds for institutional investors. The direct-investment practice writes single tickets up to €15 million, while the fund activity provides a pooled-mezzanine angle for investors seeking diversified DACH exposure.

### What investment structures does M Cap Finance typically use?

The firm deploys mezzanine capital in the form of Genussrechte (participation rights) and takes minority direct-equity stakes. Its standard contractual tenor runs seven years, with a partial repayment option after year five.

### Which sectors does M Cap Finance explicitly avoid?

M Cap Finance has not published a negative sector screen. Its published materials present a generalist appetite for Mittelstand companies, with no stated exclusion of particular industries.

### Where does M Cap Finance operate geographically?

The firm focuses on the German-speaking region — Germany, Austria, and Switzerland (DACH). It operates from a single office in Frankfurt am Main and has not disclosed any branch in other markets.

### What is M Cap Finance’s relationship with larger buyout or credit funds?

There is no publicly disclosed affiliation with a larger asset-management group. M Cap Finance operates as an independent mezzanine and equity house, founded by professionals whose prior firms included WestLB, Merrill Lynch, KPMG, and PwC.

## Related profiles

- [Mcallister Capital Management](https://altss.com/profile/mcallister-capital-management)
- [M Capital](https://altss.com/profile/m-capital)

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Last updated: 2026-06-03T20:00:00.000Z

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