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KfW Capital

KfW Capital promotes prospects for innovation and growth: As 100% subsidiary of KfW Group we invest in German and European venture capital (VC) and venture debt funds, thereby strengthening their capital base. Our aim is to improve access to capital for innovative technology-oriented growth companies in Germany through financially strong funds. Our commitment is long-term oriented and focussed:

Our investment focus

The ERP Special Fund

KfW Capital by the support of the Federal Government’s ERP Special Fund, which is based on the “Marshall Plan Aid” for the reconstruction and development of the German economy, the European Recovery Program (ERP). The subsidy programs from the ERP Special Fund include low-interest loans and investments. Today they belong to the most important instruments for the promotion of economic development in Germany.

More about ERP Special Fund (in German)

The “Zukunftsfonds” (Future Fund)

The German government’s Future Fund, which will grow to ten billion euros, will significantly strengthen growth capital financing in Germany up to 2030 and beyond. The various components of the Future Fund will benefit in particular start-ups in the growth phase with high capital requirements. KfW Capital coordinates the Future Fund for the federal government and implements the ERP/Future Fund Growth Facility as a component of the Future Fund with the support of the ERP Special Fund:

Please visit "Zukunftsfonds" (Future Fund) for more information.

Latest news

EUR 1.75 billion for the VC ecosystem

The German government wants to further strengthen the German VC ecosystem. A total of EUR 1.75 billion is planned from the Zukunftsfonds and the ERP Special Fund.

Here you can find further information.

Final Closing "Wachstumsfonds Deutschland"

The Wachstumsfonds Deutschland has slightly surpassed its EUR 1 billion target volume, making it one of the largest funds of funds in Europe and thus strengthening the VC ecosystem sustainably.

More information on the Wachstumsfonds Deutschland can be found here.

KfW Capital Award 2023

Once again, we received many interesting applications for our award this year. "Best Female Investor" and "Best Impact Investor" were announced on October 19, 2023 in Berlin.

A review of the award ceremony of this year can be found here.