NRW.BANK
NRW.Venture is the direct venture/growth equity arm of NRW.BANK, the promotional bank of North Rhine-Westphalia. It takes minority equity stakes (up to 15m EUR, held 3-7 years) in young technology-oriented NRW-based operating companies across climate tech, IT/AI/software/cybersecurity, life sciences, robotics, photonics and advanced materials, alongside private co-investors.
Key facts
Recent exits
Coverage notes
1 fund tracked, 42 portfolio companies (24 active · 18 realized). Verified weekly from public filings and deal announcements.
Sector breakdown
42 companiesFunds & portfolio
Every fund NRW.BANK has raised, with its portfolio companies. Hand-checked from public filings.
NRW.VentureVCHarvesting2006 · 20yr24 active · 18 realized
Unrealized
24 held| Company | Sector | Geo | Entry |
|---|---|---|---|
| Biotech |  Germany | 2019 | |
| Biotech | Germany | 2019 | |
| Biotech | Germany | 2012 | |
| Deep Tech | Germany | 2024 | |
| MedTech | Germany | 2024 | |
| SaaS | Germany | 2025 | |
| MedTech | Germany | 2022 | |
| ClimateTech | Germany | 2024 | |
| Software | Germany | 2019 | |
| Biotech | Germany | 2025 | |
| ClimateTech | Germany | 2025 | |
| Deep Tech | Germany | 2024 | |
| Biotech | Germany | 2025 | |
| LegalTech | Germany | 2026 | |
| Deep Tech | Germany | 2025 | |
| Biotech |  Switzerland | 2025 | |
| AI/ML | Germany | 2025 | |
| MedTech | Germany | 2017 | |
| MedTech |  United Kingdom | 2024 | |
| Biotech | Germany | 2024 | |
| Data & Analytics | Germany | 2020 | |
| SaaS | Germany | 2022 | |
| Cybersecurity | Germany | 2022 | |
| ClimateTech | Germany | 2024 |
Germany· Entry 2019Germany· Entry 2019Germany· Entry 2012Germany· Entry 2024Germany· Entry 2024Germany· Entry 2025Germany· Entry 2022Germany· Entry 2024Germany· Entry 2019Germany· Entry 2025Germany· Entry 2025Germany· Entry 2024Germany· Entry 2025Germany· Entry 2026Germany· Entry 2025Switzerland· Entry 2025Germany· Entry 2025Germany· Entry 2017United Kingdom· Entry 2024Germany· Entry 2024Germany· Entry 2020Germany· Entry 2022Germany· Entry 2022Germany· Entry 2024Realized
18 exits| Company | Sector | Geo | Entry | Exit | Type | Buyer | MOIC |
|---|---|---|---|---|---|---|---|
| SaaS | Germany | 2020 | 2023 | Trade Sale | – | ||
| Biotech | Germany | 2012 | 2022 | – | – | – | |
| MedTech | Germany | 2015 | 2023 | – | – | – | |
| Biotech | Germany | 2009 | 2022 | Trade Sale | – | ||
| Fintech | Germany | 2021 | 2023 | Trade Sale | – | ||
| Biotech | Germany | 2019 | 2023 | Trade Sale | – | ||
| Biotech | Germany | 2013 | 2017 | Trade Sale | – | ||
| E-commerce | Germany | 2019 | 2021 | Trade Sale | – | ||
| MedTech | Germany | 2016 | 2021 | Trade Sale | – | ||
| Construction |  United States | 2019 | 2021 | Trade Sale | – | ||
| EdTech | Germany | 2020 | 2025 | Trade Sale | – | ||
| MedTech | Germany | 2015 | 2016 | Trade Sale | – | ||
| Industrials | Germany | 2013 | 2017 | Trade Sale | – | ||
| MedTech | Germany | 2010 | 2022 | Trade Sale | – | ||
| Biotech | Germany | 2010 | 2019 | Trade Sale | – | ||
| Biotech | Germany | 2014 | 2017 | Trade Sale | – | ||
| MedTech | Germany | 2006 | 2020 | Trade Sale | – | ||
| LegalTech | Germany | 2019 | 2025 | Trade Sale | – |
Germany· Entry 2012Germany· Entry 2015Saved GPs appear in your watchlist, one click from your workspace.
About NRW.BANK
NRW.BANK is Germany's largest state development bank with €161.8 billion of total group assets as of December 2024, headquartered in Düsseldorf. The bank was founded in 2002 from the split of the former Westdeutsche Landesbank into a development institution, operating as a state-backed institution wholly owned by the State of North Rhine-Westphalia. The NRW.BANK Venture Fund makes direct VC investments (seed to Series A) in technology-oriented high-growth startups.
Investment thesis
NRW.BANK deploys capital through approximately one to two venture vehicles (the NRW.BANK Venture Fund plus fund-of-funds and co-investment vehicles), targeting regional economic development across lending, equity finance and advisory, with the venture arm focused on seed to Series A direct investments. Sector focus spans healthcare and medtech, biotech and life sciences, deep tech, industrial and cleantech, software and IT and energy. Geographic deployment is North Rhine-Westphalia, Germany, coordinated with federal and EU programmes. The platform pairs a €160 billion-plus balance sheet with a hands-on regional venture portfolio.
Recent activity
Recent realised exits include EdTech and software (2025) and medtech (2024-2025 portfolio rotation), with approximately 7 venture exits tracked to date. Recent acquisitions include a Series A in a medtech and therapeutics company (2024) plus ongoing seed and Series A deployment across NRW deep tech (2024-2025). The platform continues active deployment across the North Rhine-Westphalia development mandate. Detailed buyer names and multiple data available on Pro at €29/month.
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