KfW Capital invested EUR 748 million in VC funds in 2025

KfW Capital committed EUR 748 million to venture capital funds in 2025, backing startups and technology firms. This represents an increase from the previous year, with the funds channeled into 21 European VC funds.

The investments are aimed at strengthening Germany's startup landscape. KfW Capital's commitments require the VC funds to match the capital provided by investing at least that amount into German startups. Additionally, KfW Capital participated in the new "Scale-up Direct" program under the Germany Fund and invested EUR 363 million in the "Future Fund" on behalf of the Federal Government.

Jörg Goschin, CEO of KfW Capital, stated that the firm successfully implemented its investment program as planned despite a demanding market. He noted the consistent high quality of European VC funds focusing on Germany and a 12% increase in disbursements from their portfolio. Goschin highlighted the role of the Germany Fund's VC pillar in further strengthening the sector in the coming years.

As of the end of 2025, KfW Capital had invested approximately EUR 2.9 billion across 153 VC funds, supported by the Federal Government and the ERP Special Fund. This has led to approximately 2,900 startups and technology companies receiving funding. Initiatives like the "Growth Fund Germany" aim to mobilize private capital and attract new investor groups to the venture capital asset class.