Fundraising FoxParent of1 affiliated firmDEG Impulse / DEG
Frankfurt am Main · Seed–Late Stage
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Investment thesis
As the promotional bank of the German federal government and states, KfW's mandate is to enable transformation and progress across the economy and society. It supports the strengthening of Germany as an economic and innovation hub through domestic and international programs, offering loans and grants for areas such as construction, energy-efficient renovation, business founding and succession, innovation and digitalization, investment and growth, and environmental projects. Internationally, KfW operates through KfW IPEX-Bank (international project and export finance), DEG (financing companies investing in developing countries), and KfW Entwicklungsbank (development bank improving living conditions in developing and emerging economies).
Source: firm website, verified Sep 27, 2026.
What they invest in
from 9 of 11 portfolio companiesAI & Machine Learning ×4Biotech ×4Healthtech ×3Medical Devices ×3Digital Health ×2SaaS ×2B2B Marketplaces ×1Construction Tech ×1
HQs:Germany×5Netherlands×1United States×1
Investments · 11 tracked
founders shown can be your intro pathBy year:2026 · 22023 · 22020 · 22018 · 17 dated
TripAdvisor operates online marketplaces and travel discovery platforms that connect travelers with accommodations, dining, and experiences through its Viator, TripAdvisor, and TheFork brands, generating revenue primarily through transaction-based commissions, advertising, and restaurant subscription fees.
Stephen Kaufer(Founder)Langley Steinert(Founder)Matt Goldberg(President and Chief Executive Officer)inMichael Noonan(Chief Financial Officer)inSeth J. Kalvert(Chief Legal Officer and Secretary)Kristen Dalton(Chief Strategy and Operations Officer)
Co-investorsHinge CapitalIntercept VenturesBlue Pool CapitalBNP ParibasTCVTemasek
Acousia Therapeutics develops small-molecule drug candidates with a dual mode of action for treating acute and chronic sensorineural hearing loss (SNHL), targeting outer hair cells in the inner ear to preserve and enhance natural hearing.
BiotechDigital HealthHealthtechMedical DevicesTübingen, DE
Hubert Löwenheim(Founder / Board Member)
Co-investorsBoehringer Ingelheim Venture FundCreathor VenturesLBBW Venture Capital GmbHEsperante Ventures
Andercore is a B2B materials procurement platform serving construction and infrastructure companies across Europe with sourcing, quoting, and delivery of building materials and systems from multiple suppliers.
AI & Machine LearningB2B MarketplacesConstruction TechEnergyLogistics & Supply ChainNew MaterialsBerlin, DE
Elsa Cordonnier(Founder)Philipp Andernach(Founder)in
Co-investorsAtomicoInven CapitalLoric VenturesProject A VenturesCommerzbankProject Ventures
Humedics develops LiMAx, a breath analysis technology for rapid and precise measurement of liver function, enabling doctors to make tailored treatment decisions at the bedside.
BiotechDigital HealthHealthtechMedical DevicesBerlin, DE
Karsten Heyne(Co-founder)inMartin Stockmann(Co-founder)Chalom Sayada(CEO / Managing Director)
Co-investorsSeventure PartnersVesalius Biocapital Partners
Algiax Pharmaceuticals is a clinical-stage biotech company developing small-molecule GABAA receptor modulators to treat neuropathic pain and other conditions with high unmet medical need.
BiotechMedical DevicesErkrath, DE
Dr. Guido Koopmans(Chief Scientific Officer)Dr. Birgit Hasse(Head of CMS and Regulator Affairs)
Co-investorsOCCIDENT
Anara is an AI platform designed for scientific research that searches document libraries and the web, summarizes findings with automatic citations, and helps researchers write with verified sources.
AI & Machine LearningDeep TechEnterprise SoftwareFuture of WorkSaaSSan Francisco, US
Naveed Janmohamed(Founder)in
Co-investorsFoundersPioneerPreston-Werner VenturesRebel FundTRAC (Third Round Analytics Capital)Transpose Platform Management+6 more
BioGeneration Ventures (BGV) is the early-stage arm of the Forbion-BGV platform of funds, investing in and supporting biotech and life sciences companies across their stages of development.
BiotechHealthtechNaarden, NL
Co-investorsBOMKfW CapitalNovo HoldingsEuropean Investment Fund
Cleverciti provides AI-based parking intelligence systems that detect available parking spaces in real time and offer drivers turn-by-turn guidance, using occupancy and payment data.
AI & Machine LearningIoTMobility & TransportationPropTechMunich, DE
Co-investorsEnBW New Ventures GmbHThe Westly Group
Co-investorsAlleyCorpAngel InvestAlley Robotics VenturesCavalry VenturesCommerzbankDTCP
GetYourGuide is a global online marketplace where travelers discover and book travel experiences such as tours, attractions, and activities in over 18,000 cities.
ConsumerMarketplacesTravel & Hospitality
JohannesTao
Co-investorsG SquaredView DifferentBattery VenturesBlue Pool CapitalBNP ParibasHeartcore Capital+8 more
Samaipata is a European venture capital firm that invests in and supports AI-native and technology startups.
AI & Machine LearningSaaSSector Agnostic
Co-investorsKfW Capital
Exits · 1
1 IPOsTripAdvisorNASDAQ: TRIP
Portfolio news
latest coverage across their companiesAndercore · finsmes.com · Feb 11, 2026
Frequently asked questions
- How many investments has KfW made?
- KfW has 11 tracked investments, 1 of which have exited, including 2 dated in the last 24 months.
- What stage does KfW invest at?
- KfW invests at the Seed, Late Stage stages.
- What sectors does KfW focus on?
- KfW focuses on Cleantech, Climate Tech, Energy, Impact & Social Good, PropTech.
- Where is KfW located?
- KfW is headquartered in Frankfurt am Main, DE.
Funds & brands
Separately branded funds and arms of KfW. Each has its own page; people who work on a brand are listed on both.
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