For a decade, European tech was synonymous with Berlin software and American VC money. That era is ending. A new regime is emerging in Munich, driven not by venture funds, but by the "Mittelstand Liquidity Event." German industrial dynasties are unlocking trillions in private wealth to directly fund the deep tech hardware that will save their legacy. Here is why the "Death of the GP" and the rise of the Munich ecosystem marks the beginning of Europe's "Grey Tech" Golden Age.