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 invests with the support of the ERP Special Fund of the German Federal Government, which was created from funds of the 'Marshall Plan Aid' for the reconstruction and development of the German economy, the European Recovery Programme (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)

Latest news

The Germany Fund

On 18 December, the Germany Fund was presented at a press conference in Berlin by the Federal Minister of Finance, Lars Klingbeil; the Federal Minister for Economic Affairs, Katherina Reiche; and Stefan Wintels, the Chairman of the Board of Managing Directors and the Supervisory Board of KfW Capital. This includes the venture capital pillar.

Find out more about the Germany Fund and the venture capital pillar here.

KfW Capital in a nutshell

Who is KfW Capital? What do we do?
As one of Europe's largest venture capital (VC) investors, KfW Capital enhances the German and European VC ecosystem by investing in over 150 funds and enabling support for more than 2,800 start-ups and forward-thinking technology companies.
Intrigued? So, start the movie!

KfW Capital in a nutshell - Corporate video

KfW Capital Award 2025 - winners have been honoured!

The KfW Capital Award 2025 acknowledges the achievements of exceptional individuals and organisations within the German venture capital sector. The Best Female Investor, Best Impact Investor and VC Game Changer categories recognise the innovative and dedicated individuals who are shaping the future of start-ups. The award highlights the importance of diversity, sustainable investment and innovative ideas for the German and European VC ecosystems.

More details on the KfW Capital Award 2025 ceremony can be found here.

Leuchtende Glühbirne und Buch oder Textbuch mit futuristischem Symbol.

Venture Education to strengthen the VC ecosystem

A strong venture capital ecosystem thrives not only on capital, but also on knowledge, diversity and sustainable practices. KfW Capital plays a key role in strengthening Germany's position as a leading VC hub through various venture education initiatives aimed at professionalising and advancing the sector. Investors, fund managers and other market players are thus qualified as investors for the venture capital asset class, which, in turn, improves the financing landscape for startups.

Find out more here.