About us

KfW Capital is one of the largest VC fund investors in Germany and Europe. The goal of KfW Capital as an investment subsidiary of KfW Bankengruppe is to strengthen the supply of venture and growth capital for innovative technology companies in Germany: KfW Capital invests in German and European venture capital (VC) funds with the support of the ERP Special Fund and the Federal Government's Future Fund. In this way KfW Capital indirectly improves access to growth capital through larger VC funds and strengthens Germany as a location for innovation. The VC funds in which KfW Capital invests are obliged to finance innovative technology companies in Germany with at least the capital provided by KfW Capital. On behalf of the federal government, KfW Capital coordinates the Future Fund, the fund for future technologies, which strengthens the capital-intensive growth phase of start-ups in particular through several building blocks.

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The Team of KfW Capital

In 2018, KfW Capital started with just 20 people surrounding its two CEOs, Dr Jörg Goschin and Alexander Thees. Since then, we have been working on a variety of new projects. And with the growing number of tasks, our team has grown bigger - currently, KfW Capital consists of over 70 VC experts.

Get to know us

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Supervisory Board

The KfW Capital team consists of VC experts. The business operations are controled by the Supervisory Board; its members can be found here.

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Advisory Board

In addition, KfW Capital is assisted by an Advisory Board. Its members can be found here.

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Corporate Governance and Compliance

KfW Capital acts as a responsible VC fund investor. You can find our annual financial statements, the management’s code of conduct and transparent information on the topics of compliance here.

As a VC fund investor with a sense of responsibility, KfW Capital applies the sustainability guideline and KfW Capital's exclusion list to investments. In the case of target funds, the VC fund investor attaches importance to the consideration of ESG criteria. KfW Capital always invests on the same terms as other capital providers.

In addition to providing capital support, KfW Capital aims to further develop the VC ecosystem in terms of content. For example, KfW Capital, together with the BMW Foundation and ESG Ventures, offers training in ESG for VC fund managers and, in 2023, will present the KfW Capital Award for Best Female and Best Impact Investor for the second time in order to highlight the topics of diversity and impact, which are still underrepresented in the VC market, and to reward special individual achievements.

KfW Capital has signed the Diversity Charter and promotes an appreciative and inclusive working environment. The KfW Capital team consists of employees with different experiences, opinions, and skills.