NRW.BANK

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.