From entrepreneurial beginnings at a young age to an established single-family office.
2003
At the age of 20, René Köhler founded fahrrad.de, laying the foundation for his first online store.
Based in Stuttgart, the company grew in the following years to become one of Germany’s leading online bicycle retailers, offering a wide range of bicycles, accessories, and e-bikes.
2008
INTERNETSTORES GmbH, the company behind fahrrad.de, secured its first investors—the Samwer brothers—and entered its next phase of growth.
Bikester lays the foundation for the international rollout. At the same time, fahrrad.de is named the best online store of the year.
At the same time, the company begins making its first investments in publicly traded technology companies.
2012
29% of the company’s shares are sold to EQT, one of the world’s leading private equity investors. At the same time, Internetstores AG is awarded the German Founder’s Prize.
International expansion continues to gain momentum with the acquisition of Addnature and the expansion of the outdoor segment through CAMPZ. At the same time, the company begins building a real estate portfolio.
2016
The INTERNETSTORES Group is being sold to SIGNA Retail for 90% of its shares. René Köhler is transitioning from the role of CEO to that of Chairman of the Board.
Approximately 10% of the company’s shares will remain
in the ownership of René Köhler. Members of the executive team also hold significant stakes.
René Köhler begins the strategic development of a diversified investment portfolio. In addition, the company makes equity investments in other businesses as well as investments in private equity and venture capital funds.
2017
Following the exit from INTERNETSTORES, the KOEHLER GROUP is being established as an entrepreneurially driven single-family office. The goal is to create long-term value and invest capital strategically in high-growth companies and sustainable business models—with a focus on technology, digital business models, and select real estate.
JetApp is also being launched as a digital platform for booking private jets worldwide, underscoring the company’s commitment to developing innovative solutions internationally and actively scaling them.
2018
INTERNETSTORES is consistently driving its expansion in sports e-commerce through the acquisition of Probikeshop, Tennis Point, and other companies.
The KOEHLER GROUP’s acquisition of a logistics site in Esslingen strengthens the company’s operational infrastructure.
In addition, a new logistics center in Lyon lays the foundation for further international growth in bicycle and sports e-commerce.
2020
With the KOEHLER Equities Fund, we are building an active public markets strategy focused on global technology and growth companies. The goal is to invest early in the winners of tomorrow and generate attractive long-term returns.
The focus is on innovative business models, strong market positions, and scalable growth—selected based on a clear, entrepreneurial investment approach.
In the private markets segment, the KOEHLER GROUP is investing in Revolut at a valuation of $5.5 billion.
2021
SIGNA Sports United’s initial public offering (IPO) has resulted in a valuation of $3.2 billion. This marks the largest SPAC IPO by a German company in the U.S. In addition, Wiggle and Chain Reaction Cycles were acquired.
With combined annual revenue of $1.6 billion, this creates by far the world’s largest online bicycle retailer.
The KOEHLER GROUP also expanded its operations by participating in the IPO of tonies SE and growing its real estate portfolio to over 50 properties.
2023
The acquisition of a substantial stake in KFZ-Teile24, as well as investments in companies such as Titanbay and Eterno, are strategically expanding the direct investment portfolio.
At the same time, the company is further expanding its exposure to private equity funds, which now includes over 40 fund investments.
2024
With the founding of Bike Holding GmbH and fahrrad.de Bikester GmbH, the foundation for a fresh start is laid.
Key assets such as domains, trademark rights, and customer data are acquired from the SIGNA Group’s bankruptcy.
On this basis, a completely rebuilt online retailer is created, featuring a new IT infrastructure, a strong team, and a newly established logistics and product structure—which is successfully positioned in the market.
2025
The portfolio is being further expanded through the financing of real estate projects in Munich and an investment in a logistics service provider.
Investments in leading venture capital funds such as Lightspeed Ventures and Andreessen Horowitz (a16z) are broadening the firm’s international focus.
At the same time, the number of company investments has grown to over 2,000 (indirectly through private equity funds), while the acquisition of 44 apartments in Heidelberg marks the firm’s entry into the real estate market of another university city in southern Germany.
2026
With Kleiner Perkins Fund XXII and Select Fund IV, we’re gaining a foothold with one of Silicon Valley’s most influential investors, positioned at the intersection of AI, semiconductors, and next-generation computing.
fahrrad.de is growing by 45%, driven by AI rather than hiring more staff. The KOEHLER GROUP is implementing the same principle internally. JetApp is migrating to a technology platform built entirely in-house.
An investment in the digital health sector attracts a leading Northern European growth investor. This confirms the initial investment thesis and the active board support provided from day one.
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