Bertelsmann Investments Increases Revenue to 451 Million Euros and Invests More Than 100 Million Euros

Bertelsmann Investments accelerated its growth momentum in the first half of 2026. Revenue from the Bertelsmann Next growth division rose from 280 million euros in the same period last year to 451 million euros. On an organic basis, this represents an increase of 45.1 percent. At the same time, the Bertelsmann Group’s investment platform invested more than 100 million euros in 41 new and follow-on investments.

Bertelsmann Investments also posted stronger results. Bertelsmann Next’s adjusted operating EBITDA rose from 43 to 57 million euros. As of June 30, the active investment portfolio comprised 328 companies and funds worldwide.

AppLike Grows Organically by 54 Percent

A key growth driver for Bertelsmann Next was the mobile ad-tech platform AppLike. The company increased its revenue organically by 54 percent and, according to Bertelsmann Investments, benefited in particular from its international expansion.

“We are growing profitably while consistently investing in the next generations of growth companies.”

Carsten Coesfeld, CEO of Bertelsmann Investments

Other companies in the growth segment also posted gains. The pharma-tech company cormeo achieved organic growth of 16.5 percent and launched new products. EMBRACE expanded its offerings, particularly for training organizations and public-sector companies.

The Indian logistics company LetsTransport, which was integrated into Bertelsmann Next following Bertelsmann Investments’ acquisition of a majority stake at the end of 2025, grew by 55 percent.

More Than 100 Million Euros Invested in Startups and Funds

In addition to its operating growth businesses, Bertelsmann Investments remained active as a venture capital investor in the first half of the year. In total, BI made 22 new investments and 19 follow-on investments with a combined volume of more than 100 million euros.

Since the start of its venture capital activities in 2006, Bertelsmann Investments has invested approximately 2.3 billion euros in companies and funds, according to its own figures. The platform currently holds 328 active investments worldwide.

EBIT from venture capital activities also improved significantly. After a loss of 98 million euros in the first half of 2025, the figure now stands at 122 million euros. Positive valuation effects in the investment portfolio played a major role in this.

AI and Healthcare Take Center Stage

With Futurepresent and Bertelsmann Healthcare Investments, BI also launched two new funds in 2026 designed to align the portfolio more closely with strategic future markets.

Futurepresent focuses, among other things, on physical AI, AI infrastructure, and industry-specific AI agents. In the first half of the year, for example, a follow-on investment was made in General Intuition. The company develops AI agents designed to move, act, and make decisions in real-world physical environments.

Bertelsmann Healthcare Investments, on the other hand, is consolidating its venture capital activities in the transatlantic healthcare market. Among the first new investments is Take2, whose AI platform is designed to support recruiting processes in the healthcare sector through automated voice and chat interviews. This makes artificial intelligence and healthcare two key investment areas for the Bertelsmann platform.

Investment Activities from India to Latin America

The existing international investment vehicles were also active in the first half of the year. Bertelsmann Asia Investments made a follow-on investment in MStar, a fintech company focused on Mexico and other Latin American markets, as well as in Meshy.AI, a company specializing in AI-generated 3D models.

Bertelsmann India Investments made a new investment in the Indian B2B quick-commerce platform Fairdeal. Follow-on investments were made in Handpickd, Nat Habit, and the brokerage platform Snabbit, among others. Bertelsmann Investments recorded a major portfolio success after the end of the reporting period.

Shiprocket Goes Public with a Valuation in the Billions

In August, BII portfolio company Shiprocket successfully completed its initial public offering (IPO) in India. The IPO raised approximately $170 million. After the first day of trading, the logistics company was valued at 1.1 billion U.S. dollars. Bertelsmann India Investments remains Shiprocket’s largest institutional investor, holding a stake of approximately 19 percent.

The IPO also underscores the long-term focus of the investment strategy. While Bertelsmann Investments is making new early-stage and growth investments on the one hand, its initial portfolio companies are now reaching the public capital markets.

From Traditional Corporate VC to Investment Platform

The half-year figures demonstrate just how far Bertelsmann Investments has now evolved beyond the traditional corporate venture capital model. In addition to investments in startups and funds, BI is building its own growth businesses through Bertelsmann Next and, in some cases, acquiring majority stakes in companies.

This combination is now generating substantial operating revenue. Revenue of 451 million euros and adjusted operating EBITDA of 57 million euros within a half-year clearly demonstrate that, in addition to its strategic investment activities, Bertelsmann Investments is increasingly making its own operational contribution to the Group.

At the same time, investment levels remain high. More than 100 million euros were invested in new and existing portfolio companies in the first half of the year alone. With its new funds for AI and healthcare, Bertelsmann Investments is strengthening its position in markets where the Group expects further long-term growth.