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    KfW

    Frankfurt am Main, GermanyFounded 1948
    www.kfw.de/About-KfWLinkedIn
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    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.

    They made 1 investment in the last 12 months. Average disclosed round size is $27.4M (across 11 rounds with reported amounts).

    Find people at KfW on Goldilocks AI

    Portfolio

    25

    Fund Size

    —

    Top Stage

    Unknown

    Last 12 Mo

    1

    Team

    Bernd Loewen

    Bernd Loewen

    KfW Executive Board member

    Brigitte Réthier

    Brigitte Réthier

    KfW Executive Board member

    Dr Stefan Peiß

    Dr Stefan Peiß

    KfW Executive Board member

    Melanie Kehr

    Melanie Kehr

    KfW Executive Board member

    Stefan Wintels

    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

    26 investments
    CompanyRoundAmountDate
    Andercore logoAndercoreSeries B$40MFeb 2026
    Oyster Bay logoOyster BayUnknown—Jan 2025
    Everphone logoEverphoneSeries D—Jan 2024
    Electrochaea logoElectrochaeaSeries D—Jan 2022
    Cleverciti logoClevercitiUnknown$5.6MOct 2020
    GetYourGuide logoGetYourGuideSeries F$75MJan 2020
    CCleverciti SystemsUnknown$5.6MJan 2020
    GGNA Biosolutions GmbHSeries C$13.5MAug 2019
    Marguerite II logoMarguerite IIUnknown—Jan 2017
    WWeSustainSeries B$4.3MDec 2014
    AYOXXA logoAYOXXASeries B$3.4MJun 2014
    MMytaxiUnknown—Jan 2012
    Protagen logoProtagenUnknown—Jan 2010
    CryoTherapeutics logoCryoTherapeuticsSeries A——
    Acousia logoAcousiaSeries B——
    CorTec logoCorTecUnknown——
    AAdvancecorUnknown——
    AAlgiax PharmaceuticalsUnknown——
    GGetYourGuide Deutschland GmbHSeries F$85M—
    AAfrican Transition Acceleration FundUnknown$50M—
    ALCB Fund logoALCB FundUnknown——
    Acousia Therapeutics logoAcousia TherapeuticsSeries B——
    GGNA Biosolutions GmbHSeries C$13.5M—
    AAAE EUROPEAN RAIL FREIGHT WAGONS PPPUnknown——
    IImplandata Ophthalmic ProductsSeries C$5M—
    Page 1 of 2

    Top Co-Investors

    High-Tech Gründerfonds7 shared
    NRW.BANK4 shared
    Creathor Ventures3 shared
    UVC Partners2 shared
    Bayern Kapital2 shared
    Robert Bosch Venture Capital2 shared
    b2venture2 shared
    Boehringer Ingelheim Venture Fund2 shared
    LBBW VC2 shared
    MIG Capital AG2 shared
    Temasek Holdings (Private) Limited2 shared
    KKR2 shared
    Searchlight Capital2 shared
    Blue Pool Capital2 shared
    UniCredit2 shared
    BNP Paribas2 shared
    EnBW New Ventures2 shared
    SPDG2 shared
    The Westly Group2 shared
    International Finance Corporation2 shared

    Last updated: 20 October 2026