The DACH region (Germany, Austria, Switzerland) has experienced a decline in private equity (PE) fundraising, mirroring global trends. Germany dominates DACH deal activity, accounting for 82% of PE deals from 2018 to 2024. While fundraising peaked at $5.8 billion in 2019, it fell to $2.1 billion in 2021, representing only 0.2% of global capital raised. Although 2023 saw improved fundraising, a 48% drop year-on-year occurred in 2024. Deal activity in DACH remains subdued, with a 5% decline from 2018, contrasting with a 9% increase across Europe. Clean tech and renewables are popular among the region’s largest funds.