Wermuth Asset Management

Wermuth Asset Management (WAM) is a German family office and BaFin-regulated investment adviser founded in 1999 and based in Berlin. The firm invests across asset classes with a focus on growth-stage private equity in green companies, targeting high risk-adjusted financial returns alongside positive environmental impact. Its stated analytical frame is the "green industrial revolution" - macroeconomic and technological shifts that it assesses through multi-asset class investing.

The firm's investment vehicles include Green Growth Fund 2, a platform fund investing in European growth companies, and the Climate Endowment, an investment group WAM co-founded spanning asset classes with a climate and impact focus. WAM also launched forestry investment funds holding long-term forest leases; at peak, the firm co-owned leases covering more than 1,000,000 hectares. Its first fund, invested over the decade from March 1998 to March 2008, returned 13x gross.

WAM works with portfolio companies to develop profitable growth while supporting positive environmental outcomes, and invests its own money alongside other investors. Sector coverage centres on green and green-industrial companies, forestry, and impact investing, with a geographic focus on Germany and Europe.