Investment criteria of KfW Capital
KfW Capital is an institutional investor that invests across phases and sectors in venture capital and venture debt funds with a presence in Germany. These funds invest in young, technology-driven companies that put new, innovative ideas into practice, create jobs and secure the basis for future prosperity and growth in Germany and Europe.
KfW Capital invests from funds provided by the federal government.
ERP-VC fund investments and ERP / Future Fund-Growth Facility with the support of the ERP Special Fund and the Future Fund of the Federal Government
KfW Capital invests in venture capital and venture debt funds, which in turn invest in young, innovative technology-oriented growth companies in Germany, thereby strengthening the capital base of these companies.
KfW Capital is an institutional investor, whose investments are made pari passu with private investors. KfW Capital invests up to a maximum of EUR 25 million (for late-stage funds under the ERP / Future Fund Growth Facility, a maximum of EUR 50 million, and up to a total of 75 million euros when both programs are combined) and a maximum of 19.99% of the fund’s capital and voting rights.
KfW Capital invests in VC-funds with proven track record, but also in first-time funds.
KfW Capital applies a VC-oriented sustainability concept in the investment process.
The target funds have their fund domicile in Europe.
The target funds should generally have a volume of at least EUR 50 million and mainly private investors, with no single investor holding a majority stake.
The target funds invest at last the amount of our commitments into young, innovative technology-oriented growth 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.
KfW Capital does not invest in funds that violate the exclusion criteria: Exclusion criteria KfW Capital
More information regarding the Zukunftsfonds: BMWK – Future Fund.
KfW Capital: Structure and products
1) The Federal Government uses parts of the ERP Special Fund to promote start-ups and SMEs, for example using debt or equity capital.