KfW Capital
GermanyKey facts
Recent exits
No exits recorded yet.
Coverage notes
0 funds tracked, 0 portfolio companies (0 active · 0 realized). Verified weekly from public filings and deal announcements.
About KfW Capital
KfW Capital is Germany's largest LP for venture capital funds with €2.5 billion committed across 132 underlying VC funds as of December 2024 (approximately €425 million deployed in 2024 alone), headquartered in Frankfurt am Main. The firm was founded in 2018 as a wholly-owned subsidiary of KfW Group, the German federal and Länder-owned public-law development institution founded in 1948. KfW Capital additionally advises the €1 billion Growth Fund Germany programme.
Investment thesis
KfW Capital deploys capital as a fund-of-funds LP investor in European venture capital, anchoring German and pan-European venture managers through the ERP Special Fund and Future Fund programmes. The portfolio is allocated approximately 45% to ICT, 22% to life sciences, 9% to industrial tech and 24% to multi-sector strategies, with geographic deployment focused on Germany core plus pan-European VC funds with German nexus. The state-backed mandate is to strengthen Germany's startup financing ecosystem through fund-of-funds commitments rather than direct investments. The platform committed to 27 new European VC funds in 2024.
Recent activity
As a fund-of-funds structure, exits occur at the underlying VC fund level rather than at KfW Capital level. Recent activity includes 27 new European VC fund commitments in 2024 plus ongoing co-investment programme advisory. The platform continues active LP commitment deployment across the European venture capital ecosystem. Detailed buyer names and multiple data available on Pro at €49/month.
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