Who Is Buying European Tech in 2026

PE funds, search funds, strategic acquirers, family offices — four buyer profiles, four sets of criteria, and what each one actually looks for in a certified asset.

PE lower mid-market funds (target: 2–15M€ EV) are the most process-driven buyers in the market. They will not engage without certified financials. ARR certification with billing access (F-11a), founder dependency below 40% (F-42), and net revenue retention above 110% (F-22) are the three filters that determine whether a conversation progresses to LOI. A CIFSO grade of AA or above significantly accelerates their process — not because they trust the grade unconditionally, but because it signals a seller who has prepared seriously.

Search funds and ETA operators (target: 300K–3M€) are the buyer profile most likely to pay a premium for CIFSO certification. Their typical thesis is operational: they acquire, replace the founder, and scale through execution. They need documented SOPs, customer playbooks, and a founder committed to a genuine transition period. The CIFSO certification gives them a standardised language for the quality they are buying.

Strategic acquirers (target: 500K–10M€) filter primarily on IP. They need to know that all software rights are formally assigned to the entity (I-21), that there are no open-source licence conflicts (I-14), and that the technology is complementary to their existing stack. The I-dimension of the CIFSO assessment is their primary due diligence tool. IP certification is not a nice-to-have. It is a transaction enabler.

Family offices (target: 1–20M€ EV) are growing rapidly as direct buyers of European tech. They have a 10+ year investment horizon, a preference for cashflow-positive assets, and a strong preference for discreet, structured processes. They are AEGRYN's core Transact audience. Minimal founder involvement post-close is their primary operational requirement.