KfW Capital in international media

KfW Capital has recently been featured in several international media outlets, including Sifted and With Intelligence. In interviews, Dr Jörg Goschin, CEO of KfW Capital, analysed current developments in the venture capital market and provided insights into key trends and challenges.

The focus was on the fundraising environment, which remains challenging. Geopolitical uncertainties, a changed interest rate environment and cautious investors are currently shaping the market. At the same time, this also presents opportunities, for example through more attractive entry valuations and increasing investment activity on the part of funds. According to Goschin, investors from the Middle East also remain an important source of capital for European venture capital funds.

He also emphasised the importance of functioning exit markets and additional sources of liquidity. In this context, secondaries are becoming increasingly important for enabling capital returns and stabilising investment cycles.

Another key focus was on structural challenges in the European VC market. In the later-stage sector in particular, there remains a shortage of large funds capable of financing high-growth technology companies during crucial scaling phases. Goschin sees a clear need for action here to involve more European investors in larger funding rounds and reduce dependence on international investors.

Clear trends are also emerging in terms of investment themes: deep tech, artificial intelligence and defence are currently among the most dynamic segments in the VC market. At the same time, the availability of capable fund managers – particularly those with a strong team and a robust track record – remains a key criterion for investment decisions.

Overall, the interviews underscore that, despite a challenging market environment, venture capital remains a key asset class for innovation. The interplay between the availability of capital, functioning market structures and a long-term investment perspective is crucial in this regard.

Further information can be found on the websites of Sifted and With Intelligence.

Sonja Höpfner
Spokeswoman and communications manager

Tel: +49 69 7431 4396