Investment programmes of KfW Capital

KfW Capital strengthens the venture capital ecosystem in Germany and Europe through various investment programmes. Through fund investments and co-investments, KfW Capital mobilises private capital for innovative start-ups and technology companies, thereby supporting the development of key technologies of the future. The programmes are aimed at venture capital funds, institutional investors and innovative growth companies, covering various financing phases and instruments.

VC fund investments

Through VC fund investments as part of the Germany Fund, KfW Capital participates in venture capital funds focusing on Germany. The aim is to strengthen the financing of innovative start-ups and technology companies and to attract additional private investors to the market.

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VC Co-investments – Scale-up Direct

Through the Scale-up Direct co-investment programme, KfW Capital participates directly in high-growth technology companies together with venture capital funds. The programme particularly supports later financing rounds and helps to strengthen growth financing for scale-ups in Germany.

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First-of-a-kind loans (FOAK)

The FOAK programme supports innovative technologies in early market phases. The focus is on financing initial commercial plants or projects that implement new technologies on an industrial scale for the first time.

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ERP VC fund investments

Through its ERP VC fund investments, KfW Capital participates in venture capital funds that focus on innovative companies in Germany and Europe. The aim is to improve financing opportunities for start-ups and technology-oriented growth companies and to further develop the European VC ecosystem.

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Growth Fund Germany

The Growth Fund Germany is a venture capital fund of funds jointly supported by public and private investors. The fund invests in venture capital funds and also mobilises private capital for financing high-growth technology companies.

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Please check our investment criteria according to this Onepager.

If the result is positive please send the current deck (incl. management, investment strategy, track record, exposure to Germany) to .