KfW Capital Award 2026

This category recognises individuals who are driving forward the German and European VC ecosystem. Candidates may be active in any sector, including academia and politics, or elsewhere within the VC ecosystem.

The jury's statement:

“Dr Hendrik Brandis is a game changer of the German VC scene because he was instrumental in shaping the ecosystem and has been developing it on an ongoing basis. As a co-founder of Earlybird, he focused on venture capital as early as in 1997 when the industry was still in its infancy in Germany, and he grew the company to become one of Europe’s leading early-stage investors. With a strong track record and visionary deep-tech investments such as Isar Aerospace and Marvel Fusion, he was quick to tap into new technological fields. At the same time, his influence goes far beyond individual investments. He had brought together founders, capital and new generations of investors, thereby advancing the professionalisation of the German and European VC ecosystem. Among other roles, he was board member of the European European Venture Capital Association (EVCA) for a number of years. More than most others, Brandis is synonymous with ‘game changing’ in European venture capital.”

This category recognises female venture capital investors who have successfully invested in start-ups and innovative technology companies in Germany.

The jury's statement:

“Zoé Fabian-Frey, co-founder and general partner of Noteus, is one of Europe’s most prominent growth investors, with almost 20 years of experience in finance and technology under her belt. Noteus invests in European technology firms, and she herself is mainly responsible for the Germany, Austria and Switzerland region. She recently demonstrated her market leadership as lead investor in the Series D financing of Quantum Systems.

Before that, she was in charge of investments in companies such as Adjust, Aiven and Tink as Managing Director and Co-Lead Growth at Eurazeo, where she successfully accompanied exits. Other positions included Axel Springer, M&A and investment teams of JPMorgan, Lehman Brothers and Blackstone.

Convinced of the business potential and economic input of innovative technologies, she is devoted to advancing Germany as an innovation hub, including in her role of board member of the Federal Association of German Start-ups. Her entrepreneurial courage, her feel for outstanding founding teams and her dedication to the VC ecosystem qualify her as Best Female VC Investor 2026.”

This category recognises funds that have set new standards thanks to their exceptional exits.

Justification:

“The first KfW Capital Award in the category VC Exit Excellence went to Project A for the successful partial exit from Trade Republic. The neo broker uses the digital platform to strengthen the financial accountability of customers and clients. Some 10 million people already trust Trade Republic with their investment money. The platform already operates in 18 European countries.

The partial exit was completed when Trade Republic was valued at over EUR 12.5 billion, making it Germany’s most valuable start-up at one stage. Project A was able to realise the exit through a successful and disciplined secondary transaction. The fact that Project A retained a significant participation in this underscores the character of the approach: realise successes, reduce risks – while investors continue to participate in future upsides. The exit is at once a particularly convincing example of how secondaries can act as a tool for successful partial exit strategies – achieving a strong financial result and a tangible societal impact from the start-up itself.”

Justification:

“Dr Andreas Rodin is one of the trailblazers and influential personalities of the German private equity and venture capital industry. As a highly respected fund lawyer, founding partner of Pöllath and legal expert, he played a vital role in co-designing the legal and taxation framework of the equity capital market for decades. He also contributed his outstanding expertise and personal commitment to the work of the Board of the German Private Equity and Venture Capital Association for eight years.

Andreas Rodin has influenced generations of lawyers with his knowledge, experience and high legal standards. Many of them carry responsibility themselves today and are shaping the future of the industry. He continues to practice in the corporate law firm YPOG, where he is sharing his wealth of experience with the next generation.

Rodin has earned lasting merits for the development and international recognition of the German equity capital market. His lifetime achievement stands for legal excellence, foresight and unwavering commitment to an industry whose foundations and future he has equally shaped.”