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2023 - The Year in Retrospect

Five years after KfW Capital commenced operations as a "Responsible VC Fund Investor", we can look back on what was probably the most eventful year in our young history. To be sure, the preceding years were also characterised by very specific challenges, including the structuring and implementation of the coronavirus start-up aid programmes (2020) and the design, implementation, and coordination of the Federal Government's Future Fung (2021). But we significantly expand our activities yet again in 2023. We introduced new investment facilities to the VC market and held academies and training sessions on the further substantive development of the VC ecosystem. On behalf of the Federal Government, we launched the Wachstumsfonds Deutschland, our first VC fund of funds. In a very demanding environment, we reached the target volume of EUR 1 billion for this fund and succeeded in winning over new institutional investors for the venture capital asset class.

This is our retrospect, as we bid farewell to the year 2023. We will maintain a high level of ambition in 2024 as well to improve the financing conditions for innovative start-ups and technology firms in Germany through a reinvigorated VC ecosystem.