KfW Capital

KfW Capital GmbH & Co. KG is a 100% subsidiary of the KfW Banking Group, headquartered in Frankfurt am Main. As one of the largest institutional investors in the field of venture capital (VC) and venture debt in Germany and Europe, KfW Capital indirectly strengthens the capital base of technology-oriented growth companies through fund participations. It utilizes the ERP Special Fund as well as the Federal Future Fund and is additionally committed to the further development of the VC ecosystem through venture education programs, sustainability initiatives, and awards such as the KfW Capital Awards.

KfW Capital sees itself as a responsible VC fund investor that sustainably strengthens the innovative power and competitiveness of technology companies in Germany and Europe. Our goal is to support VC and venture debt funds with a clear technology and growth focus, improve access to capital for start-ups, and set high standards in the areas of ESG, diversity, and impact. Through targeted educational offerings and networking initiatives, we contribute to building a diversified and professional VC ecosystem.

KfW Capital targets European venture capital and venture debt funds based in Germany or neighboring EU countries (Norway, Switzerland, UK) that invest in technology-oriented growth companies. The funds should have a predominantly private investor base and demonstrable experience in financing German start-ups. Additionally, the Emerging Manager Facility program specifically supports fund managers from underrepresented groups (e.g., women and non-binary persons) as well as funds that integrate ESG criteria. Furthermore, investors, fund managers, and other actors in the VC market benefit from our venture education initiatives and awards.