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For our co-investors, we perform through long‑term, focused, selective investing



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Letter to Partners #24

Gehlen Bräutigam Capital
Q2 2024

Practical Insights

BSVI Value Investing
November 2023

Interview #67: GBC

Capital Employed
May 2023

We communicate transparently.

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    Investment Philosophy

    We are convinced that above-average returns are most readily achieved by focusing on parts of the market which are not efficient and by operating free from institutional constraints.

    We focus on European small & micro caps. Small caps offer not only a higher probability for mispricings, they also represent the largest segment in terms of the number of companies.

    Our in-depth research process includes a detailed examination of the company and its intrinsic value, supported by discussions with management, industry experts, customers, and (former) employees.

    We act very opportunistically and only invest when we see deep undervaluations. We hold the best ideas in a concentrated portfolio.


    Gehlen Braeutigam Capital works with family offices, asset managers, foundations, financial advisors and individual investors to offer them access to a special segment of the European equity market.

    About Us

    The Gehlen Bräutigam Capital GmbH is based in Berlin and was founded in 2018. It acts as the initiator and investment advisor of the Gehlen Braeutigam Value HI fund.

    We have a long-term vision with both our investing and company goals. Therefore, we are exclusively looking for like-minded investors who want to invest with us in partnership.

    Our interests are aligned with our co-investors as we ourselves are invested in the fund with the largest part of our private assets. We are focused 100% on the goal of achieving the highest possible return over the long term.

    We limit our fund volume, as we want to offer our co-investors a sustainably attractive solution for long-term wealth creation.


    Highly-motivated team of passionate value investors.


    Founder & Managing Partner


    Founder & Managing Partner

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    Investment advice according to section 2 para. 2 no. 4 German Wertpapierinstitutsgesetz (WpIG) and investment brokerage according to section 2 para. 2 no. 3 German Banking Act shall be made on behalf of, in the name of, for the account and under the liability of the responsible legal entity BN & Partners Capital AG, Steinstraße 33, 50374 Erftstadt, according to section 3 para. 2 WpIG. BN & Partners Capital AG has a corresponding license from the German Federal Financial Supervisory Authority (BaFin) in accordance with section 15 WpIG for the prenamed investment services.