"Die Höhle der Löwen" Season: To Mark the Anniversary, the Group Grows to Eight Investors

"The Lion's Den" is celebrating its anniversary: On September 7, 2026, VOX will premiere the show’s 20th season. Since its debut in 2014, the show has become a staple of the German startup and investment scene. To mark the anniversary, the show will not only look back but, above all, significantly expand its panel of investors.

Eight Lions Compete for the Best Deals

Johannes Kliesch and Andreas W. Herb are joining the pack as two new investors. This brings the total number of entrepreneurs sitting in the “Lion’s Chairs” for the anniversary season to eight: Dagmar Wöhrl, Janna Ensthaler, Judith Williams, Ralf Dümmel, Carsten Maschmeyer, and Frank Thelen, as well as the two newcomers, Kliesch and Herb.

This is also likely to change the dynamics of the show. Both new Lions bring their own networks, substantial investment power, and experience in building large companies. At the same time, they expressly want to invest outside their traditional industries as well. Competition for attractive startups and investments is thus likely to intensify once again.

Johannes Kliesch Brings E-Commerce Experience from Snocks to “The Lion’s Den”

At 31, Johannes Kliesch is one of the younger investors on the show. The founder and CEO of the SNOCKS Group started his company from his childhood bedroom with just 4,000 euros in capital. This grew into an internationally active group of companies with more than 130 million euros in annual revenue.

His areas of focus include, in particular, e-commerce, brand building, and artificial intelligence. On *Die Höhle der Löwen*, Kliesch also plans to be open to unconventional investment models and larger investments.

Andreas W. Herb brings brand and sales expertise

The second new addition, Andreas W. Herb, has more than three decades of experience in brand development and sales. As the founder of the MBG Group, he developed brands such as SALITOS, effect Energy Drink, SCAVI & RAY, and 9 MILE Vodka, among others.

The group is now active in more than 70 countries and serves over 60,000 customers. As an investor, Herb focuses particularly on scalable brands and product concepts, though he does not intend to limit himself to food and beverage at DHDL.

Anniversary Season with Celebrity Guests and New Technologies

The 20th season will also feature unique stories in its pitch segments. Among others, entrepreneur and influencer Diana zur Löwen will take the stage to pitch to the investors. Johann Lafer, Micaela Schäfer, and Steffen Baumgart will also appear as brand ambassadors.

In addition, future technologies and unusual inventions are set to play a larger role. For example, a window-cleaning drone has been announced. There will also be new deal mechanics designed to inject additional dynamism into the negotiations during the anniversary season.

Twelve Years of Startup TV

The anniversary season also underscores just how long “Die Höhle der Löwen” has been a fixture on German television. Some investors have been part of the show for many years. Judith Williams has been part of the investor panel since the first season, while Frank Thelen, after his initial stint from 2014 to 2020, has been a permanent fixture again since 2025.

The show has also spawned some remarkable stories from a business perspective. Carsten Maschmeyer, for example, invested one million euros in Finanzguru—which, according to his own statements, was the show’s largest single investment to date. His portfolio company, Presize, was later acquired by Meta.

With two additional investors, VOX is now banking on even more competition for the most promising companies in Season 20. Despite its media success, the show continues to face criticism from the startup and VC communities, as it is said to portray the startup scene without sufficient foresight. What is undisputed, however, is the additional exposure that DHDL has brought to the topic of startups and entrepreneurship.