KfW is a German state-owned promotional and development bank, founded in 1948 and headquartered in Frankfurt am Main. Through its subsidiary KfW Capital, it acts as a fund-of-funds investor in German and European venture capital and venture debt funds, supporting technology-oriented growth companies rather than investing directly in early-stage startups.
Average disclosed round size is $46.1M (across 8 rounds with reported amounts).
Portfolio
19
Fund Size
—
Top Stage
Unknown
Last 12 Mo
0
Team
Bernd Loewen
KfW Executive Board member
Melanie Kehr
KfW Executive Board member
Stefan Wintels
CEO
KM
Karin Mulder
Vice President | KfW IPEX-Bank | Origination & Structuring | Infrastructure Finance
DJ
Dr. Jörg Goschin
Co-CEO of KfW Capital
Portfolio Breakdown
Stage Distribution
Sector Distribution
Investment Activity
DealsAvg Round Size
Portfolio
19 investments
| Company | Round | Amount | Date |
|---|---|---|---|
 Proxima | Unknown | $130M | Jun 2025 |
 Oyster Bay | Unknown | — | Jan 2025 |
 Cleverciti | Unknown | $5.6M | Oct 2020 |
| CCleverciti Systems | Unknown | $5.6M | Jan 2020 |
 GNA Biosolutions | Series C | $13.5M | Aug 2019 |
| MMarguerite II | Unknown | — | Jan 2017 |
| WWeSustain | Series B | $4.3M | Dec 2014 |
 Protagen | Unknown | — | Jan 2010 |
 AYOXXA Biosystems | Series B | — | — |
 CryoTherapeutics | Series A | — | — |
 Electrochaea | Series D | — | — |
 Acousia Therapeutics | Series B | — | — |
 CorTec | Unknown | — | — |
| EElectrochaea GmbH | Series D | — | — |
| GGetYourGuide AG | Series F | $75M | — |
| AAlgiax Pharmaceuticals | Unknown | — | — |
| GGetYourGuide Deutschland GmbH | Series F | $85M | — |
| AAfrican Transition Acceleration Fund | Unknown | $50M | — |
 ALCB Fund | Unknown | — | — |
Top Co-Investors
High-Tech Gründerfonds5 shared
NRW.BANK4 shared
UVC Partners2 shared
Creathor Ventures2 shared
University of Chicago2 shared
KKR2 shared
Blue Pool Capital2 shared
UniCredit2 shared
BNP Paribas2 shared
EnBW New Ventures2 shared
SPDG2 shared
The Westly Group2 shared
Bayern Kapital1 shared
Robert Bosch Venture Capital1 shared
Wellington Management1 shared
DCVC1 shared
Last updated: 9 September 2026