{"id":11950,"date":"2026-10-08T12:35:39","date_gmt":"2026-10-08T10:35:39","guid":{"rendered":"https:\/\/www.koehlergroup.com\/private-markets-wenn-sich-geduld-auszahlt\/"},"modified":"2026-10-09T13:32:37","modified_gmt":"2026-10-09T11:32:37","slug":"private-markets-when-patience-pays-off","status":"publish","type":"post","link":"https:\/\/www.koehlergroup.com\/en\/news\/private-markets-when-patience-pays-off\/","title":{"rendered":"Private Markets: When Patience Pays Off"},"content":{"rendered":"\t\t
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We\u2019ve held stakes in companies for five years, sometimes longer. That\u2019s how it works in the private markets. And then comes a day like June 12, 2026: SpaceX goes public on the Nasdaq \u2014 the largest initial public offering (IPO) of all time \u2014 raising $75 billion at a valuation of $1.77 trillion. This made the IPO 2.6 times larger than the previous record held by Saudi Aramco. We\u2019ve been invested in SpaceX since 2021, through funds managed by Founders Fund and Kleiner Perkins. Back then, SpaceX was still a private spaceflight startup. Today, it\u2019s one of the most valuable companies in the world. We\u2019ve followed many rocket launches since then. But none like this one. It\u2019s a good moment to showcase what\u2019s behind our private markets portfolio.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t

More than 2,000 companies<\/h3>\n\t\t\t\t
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We have investments in over 40 funds managed by more than 20 fund managers. These include Andreessen Horowitz, Insight Partners, EQT, Lakestar, Kaszek, Project A, and Picus. Through them, we hold stakes in more than 2,000 companies \u2014 ranging from a young startup in Berlin to a hyperscaler, from S\u00e3o Paulo to Silicon Valley. The portfolio is complemented by select direct investments.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t

Loyalty Over Trends<\/h3>\n\t\t\t\t
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Loyalty, Not Just Good Returns: You don\u2019t find new PE\/VC fund managers every year. Once we\u2019ve found them, we stick with them. With many of them, we\u2019re already invested in the second, third, or fourth generation of their funds. That takes patience, but that\u2019s exactly what pays off in the end.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t

Who's next?<\/h3>\n\t\t\t\t
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After a few relatively quiet years in the IPO market, we\u2019re looking forward to what\u2019s next. The SpaceX IPO and others in the works are a good sign that IPO activity is picking up steam again. Our portfolio includes several companies that are preparing for an IPO in the coming years.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\n<\/div>\n\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"

SpaceX is publicly traded, and we’ve been invested in it since 2021. Take a look at our portfolio, which includes over 2,000 companies.<\/p>\n","protected":false},"author":1,"featured_media":11963,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[37],"tags":[],"class_list":["post-11950","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-private-markets","featured-post"],"acf":[],"yoast_head":"\nPrivate Markets: When Patience Pays Off - KOEHLER.GROUP<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.koehlergroup.com\/en\/news\/private-markets-when-patience-pays-off\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Private Markets: When Patience Pays Off - KOEHLER.GROUP\" \/>\n<meta property=\"og:description\" content=\"SpaceX is publicly traded, and we've been invested in it since 2021. 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