Updated:
zwei.7 Group
zwei.7 Group was founded by Karsten Wulf after he built and sold buw Group, one of Germany's largest contact-center operators.
zwei.7 Group
zwei.7 Group was founded by Karsten Wulf after he built and sold buw Group, one of Germany's largest contact-center operators. The family office deploys his personal liquidity and entrepreneurial operating know-how into a concentrated mix of direct equity stakes and real assets. Wulf's wife Silke runs the family's art-related activities through Galerie w, while the core investment activity is split across Olaf Bock (CEO of zwei.7 Equity) and Jörg Hänscheid (CEO of zwei.7 Real Estate Holding). Strategy centers on equity participations in mid-sized German companies and long-duration commercial and residential real estate in secondary German cities. Confirmed direct positions include healthcare-software firm Avelios, joined in June 2025, and digital-health company hellomed, added in February 2026. The firm also operates under an Alternative VC Models mandate, writing growth, seed, and buyout checks across AI/ML, enterprise software, and health-tech — with additional exposure to robotics, fintech, and mobility. The real-estate arm owns the group headquarters at Heger-Tor-Wall in Osnabrück and a commercial property at Torgauer Platz in Leipzig, and continues to accumulate Gewerbe- und Wohnimmobilien in select regional markets. Scale figures are not publicly disclosed, but the group runs its own in-house event series — "Augenhöhe," "Genussmomente," and "Einblicke" — that convenes entrepreneurs and co-investors. Recent speakers include nursing-home operator Gunnar Sander (Sander Pflege) and financial-services executive Bernd Schmidt-Ankum. The firm is a certified climate-neutral member of the Development and Climate Alliance and belongs to the IAV industry association. In February 2026, zwei.7 closed its participation in hellomed, the same month it hosted Sander for an Augenhöhe session on entrepreneurial values. What distinguishes zwei.7 structurally is the combination of a direct private-equity book with a self-managed German brick-and-mortar real-estate portfolio inside a single-family office wrapper — a model that avoids fundraising cycles and allows the group to operate as a perpetual-hold investor for Mittelstand companies. The real-estate side functions as a captive property management and investment platform, while the equity arm leans on Wulf's operational track record to source proprietary deals without competing for sponsor-led auctions.
General information
Firm type
Single Family Office
Year founded
—
AUM
Undisclosed
Location
Region
Europe
Country
Germany
City
Osnabrück
Corporate office
Osnabrück, Germany
Principals
Karsten Wulf
Founder and CEO
Olaf Bock
CEO of zwei.7 Equity
Jörg Hänscheid
CEO of zwei.7 Real Estate Holding
Sector focus
Frequently asked questions
Who runs investment decisions at zwei.7 Group?
Founder Karsten Wulf oversees the group as CEO. The equity book is managed day-to-day by Olaf Bock, CEO of zwei.7 Equity, while the real-estate portfolio sits under Jörg Hänscheid, CEO of zwei.7 Real Estate Holding. The firm's website states the group provides capital, a network, and entrepreneurial expertise to mid-sized companies.
Where does the underlying wealth come from?
The underlying wealth originates from Karsten Wulf's co-founding and eventual sale of buw Group, a large German contact-center outsourcing company. Wulf now channels that liquidity through zwei.7's direct-investment and real-asset activities.
How does zwei.7 source its deals?
The firm leans on Karsten Wulf's entrepreneurial network and an in-house event series — Augenhöhe, Genussmomente, and Einblicke — that convenes founders and operators in Osnabrück. This network-driven approach generates proprietary deal flow for direct equity stakes in German Mittelstand companies.
Does zwei.7 participate in fund commitments or only direct deals?
The group engages in direct equity participations and owns a self-managed real-estate portfolio of commercial and residential properties in German secondary cities. Available information does not confirm third-party fund commitments, though the firm's investment types include Alternative VC Models and Private Equity alongside Startups.
What investment stages does zwei.7 target?
zwei.7 targets seed, growth, and buyout stages according to its confirmed investment-stage tags. The firm's direct-stake model positions it for majority or significant minority positions in mid-sized companies where it can apply operational expertise.
How is zwei.7 related to the buw Group?
Karsten Wulf was a co-founder of buw Group and used the proceeds from its eventual sale to establish zwei.7 Group as his single-family office. There is no indication that zwei.7 controls or operates buw Group today.
Does zwei.7 maintain philanthropic structures?
The firm supports HelpAge Deutschland and Wunderbunt e.V. It is also a certified climate-neutral member of the Development and Climate Alliance. Gunnar Sander, a frequent co-investor and speaker at the firm's events, serves as a co-ambassador for HelpAge alongside his role at Sander Pflege.
Profile maintained by Altss 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.
Need institutional-grade insight on family offices?
Altss delivers:
Prefer a guided tour?
We’ll walk you through: