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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

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:

"Zukunftsfonds" (Future Fund)please visit:

Latest news

Application phase for 2nd KfW Capital Award “Best Female Investor” and “Best Impact Investor” closed.

We are looking forward to the jury's selection. You can find more information


KfW Capital VC Academy 2023

On Wednesday, September 13, the next KfW Capital VC Academy will take place with the title: "Venture Debt in the VC Ecosystem - Bridging Venture Capital and Debt". Find out the annual program and details


“KfW Capital Fellowships Women in VC”

For the first time, KfW Capital is awarding two partial scholarships for women (“KfW Capital Fellowships Women in VC”). Read more about it