Multi-Family Office

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VERMÖGENSKULTUR

Stephan Simon’s Munich multi-family office, backed by Porsche-family capital, ranked top-5 in Germany by Capital and managing an estimated $500M–$1B.

VERMÖGENSKULTUR

VERMÖGENSKULTUR AG launched in Munich as an independent multi-family office, co-founded by Stephan Simon and Marco Markgraf. The firm is open about its shareholder circle — Porsche family member Felix Alexander Porsche holds an interest via FXP Holding GmbH, and Roland Hötzl, owner of Abtura Beteiligungs GmbH, sits on the Supervisory Board. The office describes a clear commitment to stewardship across generations, explicitly tying asset preservation to its name. Investment activity spans traditional portfolio construction, direct co-investments and SPVs, and dedicated real estate exposure — including the Abtura Immobilien Portfolio, a mixed-use property pool rooted in Bavaria. The firm also pursues collectibles and passion assets as part of its private-client offering. On the philanthropic side, its Stiftungsberatung VERMÖGENSKULTUR arm advises foundations, while the wealth management unit itself holds confirmed allocations across Europe, North America, and Asia. Technology priorities include ESG integration and military-sector investments — an unusual but deliberate dual focus for a German family office. Capital ranked VERMÖGENSKULTUR among Germany’s top five wealth managers in its July 2025 edition, awarding a five-star rating. The firm structures access in three tiers: a digital entry point from €50,000, a personal advisory threshold at €250,000, and fully individualized mandates starting at €1 million. It is also a consistent member of the Elite Report Circle, the DACH region’s primary peer-recognition group for wealth managers. Altss estimates total assets under advisory in the $500M–$1B range, though the firm does not publish its own figure. Where many German multi-family offices remain opaque about ownership and mandate, VERMÖGENSKULTUR makes its architecture unusually legible. The combination of a named Porsche-family shareholder, a founders-led operating team, and a tiered-access model creates a structure that feels closer to a private partnership than a traditional wealth advisory — a rare profile in the regulated German market.

General information

Firm type

Multi Family Office

Year founded

AUM

$500M–$1B (Altss estimate)

Location

Region

Europe

Country

Germany

City

Munich

Corporate office

Munich, Germany

Principals

Stephan Simon

CEO and Co-founder

Marco Markgraf

Board Member and Head of Foundation Advisory

Felix Alexander Porsche

Shareholder

Roland Hötzl

Shareholder and Supervisory Board member

Sector focus

Energy Transition & RenewablesClimateTechLuxuryReal Estate

Frequently asked questions

Who runs investment decisions at VERMÖGENSKULTUR?

CEO and co-founder Stephan Simon leads the firm, while co-founder Marco Markgraf heads foundation advisory. Founder Herbert Keilhammer previously served as CEO. The investment team operates from a single Munich office, with no disclosed CIO — suggesting a founder-led committee structure typical of German multi-family offices.

Is the Porsche family directly involved in VERMÖGENSKULTUR’s governance?

Felix Alexander Porsche, a member of the Porsche family, is a shareholder via FXP Holding GmbH. He does not hold an operating role, but the stake creates an ownership link to one of Germany’s most prominent industrial families. The firm has not publicly stated whether Porsche family capital flows into client portfolios.

How does VERMÖGENSKULTUR structure its client access?

The firm operates three entry points: a digital-access tier starting at €50,000, a personal-advisory tier at €250,000, and an individually tailored tier from €1 million. This segmentation lets it serve both emerging wealth and established multi-generational families without diluting the high-touch model for larger clients.

Does VERMÖGENSKULTUR participate in direct deals or only managed portfolios?

The office executes direct co-investments and SPVs alongside traditional portfolio management. Real estate is a specific pillar — including the Abtura Immobilien Portfolio in Bavaria — and the firm also advises on collectibles and passion assets. That mix goes beyond the standard managed-account model common among German wealth managers.

What is VERMÖGENSKULTUR’s known posture on philanthropy?

Marco Markgraf runs Stiftungsberatung VERMÖGENSKULTUR, a dedicated foundation-advisory unit housed within the firm. The group advises private foundations on governance, asset allocation, and mission-related investing. That structure keeps philanthropic capital separate from the main wealth-management operations while sharing the same investment engine.

Profile maintained by using OSINT (open-source intelligence), regulatory filings, licensed data partners, and verified direct submissions. Read the methodology. Last updated: . Continuous refresh with full update cycles at least every 30 days.

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