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    Impact Facility

    • KfW Capital invests through its Impact Facility in dedicated impact VC funds which aim to generate a social and/or environmental return in addition to a financial return.
    • KfW Capital first performs customary due diligence (DD) as in all other programmes, which covers a broader assessment of the funds’ impact-related capacities and processes, and the investments are subject to the same conditions as private VC fund investors.
    • The target funds must have a systematic approach to the issue of impact through:
      • Presentation of their own impact thesis in order to demonstrate the thematic areas of impact, the social need for them and the approach to achieving the impact (intentionality).
      • Definition of impact-related objectives and a concept for the continuous measurement of the fulfilment of such objectives.
      • Taking into account the achievement of the above-mentioned impact goals in the fund manager's profit participation (carried interest). This is done through so-called impact carry.
    • The target funds must be classified in accordance with Articles 8 or 9 of the Sustainable Finance Disclosure Regulation (SFDR).
    • The target funds can be of any fund size (no restrictions on minimum or maximum size).
    • The target funds have their fund domicile in Europe.
    • The target funds invest in young, innovative and technology-oriented companies for which the impact is intrinsic to the business model. At least the amount invested by KfW Capital must be invested in companies based in Germany.
    • The target funds have an independent private management team with experience and track record relevant to the investment strategy.
    • The target funds must have clear investment and exit strategies.

    You can also find more information in the press release: Strong impetus for impact venture capital funds: EUR 200 million facility available from KfW Capital

    Are you a VC fund and have questions about the programs? Contact us at .

    More information regarding the Zukunftsfonds: BMWK – Future Fund.

    In addition, KfW Capital is a large investor in the High-Tech Gründerfonds and in coparion alongside the Federal Ministry for Economic Affairs and Climate Action (BMWK).