Driven by Conviction
About Us
Two partners, one conviction
Spinone was founded in 2021 to make private equity’s most attractive segment accessible to a small circle of entrepreneurs and families: small buyout and growth equity funds in the US and selected European markets.
Our capital is entrepreneurial, and we put it to work where entrepreneurs feel at home, because value in our segment is built through operational transformation. The most successful managers are specialists with a sharply focused strategy who master their craft down to the last detail. Finding and assessing them is the real art. That is where our network, reputation, and experience come in. With these managers we build focused private equity portfolios.
Behind Spinone are two partners who have known each other for 25 years: two decades of private equity investing on one side, top-tier M&A law from leading firms on the other, entrepreneurial experience on both. Spinone is where these paths meet, with our capital invested alongside our investors’.
Our capital is entrepreneurial, and we put it to work where entrepreneurs feel at home, because value in our segment is built through operational transformation. The most successful managers are specialists with a sharply focused strategy who master their craft down to the last detail. Finding and assessing them is the real art. That is where our network, reputation, and experience come in. With these managers we build focused private equity portfolios.
Behind Spinone are two partners who have known each other for 25 years: two decades of private equity investing on one side, top-tier M&A law from leading firms on the other, entrepreneurial experience on both. Spinone is where these paths meet, with our capital invested alongside our investors’.
“Hard to find. Hard to diligence.
Hard to access.”
Our approach
What we believe
Spinone opens an attractive segment where access is structurally demanding: small buyout and growth equity funds, including emerging managers as well as sector and niche specialists.
01
Conviction-driven
We invest when we are convinced, and only then.
02
Highly selective
Every investment matters. Few exceptional managers, a diversified portfolio beneath.
03
Relationship-led
The best managers choose their investors. Our reputation is our way in.
04
Entrepreneurial core
Capital from entrepreneurs, for entrepreneurs. Our own is always in.
05
Disciplined craft
High standards, a lean team, enhanced by technology at every step.
06
Aligned
Our economics follow our investors’ returns. Their success carries ours.
We find the best managers worldwide.
Munich is home.
For managers
We invest in people
To the managers we back, we are a committed, long-term partner. Because we have invested in, advised, and operated businesses ourselves, we diligence seriously, decide quickly, and stand firmly behind our commitments. We know what it takes to transform a small firm into an exceptional one.
A direct conversation is the best place to start:
Get in touch
I
Capital with an owner’s mindset
Capital from entrepreneurs and families: long-term, reliable, with the option to co-invest for the best deals.
II
Lean, principal-led decisions
Focused diligence, clear feedback, decision-makers who stay, respectful of time and resources.
III
A network that opens doors
We listen: our network works for our managers.
Access grows through relationships,
often built over years.
our team
Lean, by design
We run an investment boutique designed to be personal at every touchpoint, and consider ourselves long-term partners to the entrepreneurs and families who invest with us, and to our managers. Staying small is our choice: it keeps us close to the work, making every decision ourselves. Experience and technology take the place of scale, and what we learn compounds with every investment. For everything outside our core, we bring in the best. All of this rests on trust, grown from a friendship that has connected us for decades.
Andreas is the founder and a Partner of Spinone Capital, responsible for investment strategy, manager selection, and the firm’s relationships across the US and European manager universe. He brings two decades of private equity experience: previously Co-Head of Private Equity at Flossbach von Storch and Portfolio Manager at WEGA Invest (single family office), with earlier roles including Calibrium, a large European investment house. He studied at the University of Cologne and HEC Paris and holds several advisory board mandates.
Philipp is a Partner at Spinone Capital and, together with Andreas, responsible for the firm’s core business, from the analysis and assessment of new fund commitments and the relationship with investors through to reporting and day-to-day operations. Originally trained as an M&A lawyer at Hengeler Mueller and Wachtell, Lipton, Rosen & Katz in New York, he subsequently built and scaled the German business of a Canadian digital health company and led it through a successful exit. Philipp holds a doctorate in law from the University of Bonn.
Paula supports the partners as executive assistant and in the day-to-day operations of the boutique. She studied law in Marburg and Lausanne with a focus on international law and brings more than a decade of experience: co-founder of the Michelin-starred restaurant Les Deux and, for over six years, part of its management with responsibility for staff, budget, and quality, later heading private events at the Käfer Service Group and serving as Executive Assistant to the management of venture capital fund ALSTIN Capital.
FLOSSBACH VON STORCH
HEC PARIS
HENGELER MUELLER
ST. GALLEN (HSG)
WACHTELL LIPTON
ALSTIN CAPITAL
WHAT WE DO
Concentrated portfolios of a few managers we back with high conviction in small- and mid-cap buyout and growth equity, with a particular emphasis on the US market, including where the door usually stays closed.
For INvestors
What We Believe
Spinone opens an attractive segment where access is structurally demanding: small-buyout and growth equity, including emerging managers, niches, and special situations.
01
Conviction-driven
We invest when we are convinced, and only then.
02
Highly selective
The best managers choose their investors. Our reputation is our way in.
03
Relationship-led
A network that compounds; every relationship opens the next door.
04
Entrepreneurial core
Capital from entrepreneurs, for entrepreneurs. Our own is always in.
05
Disciplined craft
High standards, a lean team, enhanced by technology at every step.
access
We work, by choice, with a selective circle. Access grows through relationships, often built over years.
our name
Spinone Italiano (Noun)
spi-ˈnō-nē i-ˈtal ya-nō
A rugged Italian gun dog, bred to hunt truffles: trained to find what sits beneath the surface and what others walk right past. We invest the same way.
The best managers are rarely advertised; they often sit behind relationships that take years to build. Our dog Willy, our Chief Happiness Officer, embodies that mindset every day.
The best managers are rarely advertised; they often sit behind relationships that take years to build. Our dog Willy, our Chief Happiness Officer, embodies that mindset every day.
Willy
Chief Happiness Officer
Willy is our beloved Spinone Italiano, our namesake and Chief Happiness Officer. The breed is one of Italy's oldest, raised to work patiently and close to its people, and Willy carries every bit of that temperament. Curious, patient, absolutely loyal, and entirely unimpressed by appearances, he brings joy and calm to the team and to our friends. He sits in on most of our meetings, supervises diligence sessions from his favourite spot next to the desk, and reminds us not to take ourselves too seriously. We like to think he is just as good as we are at sniffing out the people we want to spend the next decade working with.
Spinone Italiano (Noun)
spi-ˈnō-nē i-ˈtal ya-nō
A rugged Italian gun dog, bred to hunt truffles: trained to find what sits beneath the surface and what others walk right past. We invest the same way.The best managers are rarely advertised; they often sit behind relationships that take years to build. Our dog Willy, our Chief Happiness Officer, embodies that mindset every day.
Willy
Chief Happiness Officer
Willy is our beloved namesake and Chief Happiness Officer. He is curious, patient, deeply loyal and warm-hearted. His nature brings calm to the team and gladdens our hearts. Willy sits in on meetings, supervises diligence sessions from his favorite spot next to the desk, and reminds us not to take ourselves too seriously.
our name
Spinone Italiano
spi-ˈnō-nē i-ˈtal ya-nō
The Spinone Italiano is one of Italy’s oldest breeds. It is known for its gentle temperament and absolute loyalty. Originally bred for hunting in rough terrain, it is a pointer with exceptional endurance. Thanks to its excellent nose, it is also used to hunt truffles.
Thanks to its exceptional nose, the Spinone Italiano was born to track down truffles.
We find the truffles of private equity.