Fundraising FoxKfW Capital
Fund of fundsFrankfurt am Main · Pre-Seed–Growth · 1 people tracked
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Investment thesis
KfW Capital acts as a fund investor (fund-of-funds) committing capital to German and European venture capital and venture debt funds rather than investing directly in startups. Its aim is to strengthen the capital base of these funds so that technology-oriented growth companies in Germany gain better access to financing from well-capitalized funds. The program is supported by the federal ERP Special Fund, which originated from Marshall Plan aid, and combines private and public capital. As one of Europe's largest VC investors, KfW Capital has invested in more than 150 funds, indirectly supporting over 2,800 startups and future-oriented technology companies, pursuing a long-term, return-oriented strategy.
Source: firm website, verified Sep 26, 2026.
Team · 1 people
from curatedWhat they invest in
from 56 of 93 portfolio companiesBiotech ×15Deep Tech ×14Climate Tech ×12AI & Machine Learning ×10Healthtech ×10Impact & Social Good ×10SaaS ×10Cleantech ×8
HQs:Germany×20Netherlands×5France×4United Kingdom×3Switzerland×2Spain×2
Who they back
founder profiles across 15 portfolio companiesFounding team size:solo founder×92 founders×53 founders×1
Where their founders studiedfrom 13 founders with education data
RWTH Aachen University ×2
What their founders studiedfrom 10 founders with field-of-study data
Business & Management ×4Engineering ×4Humanities ×2
Where their founders worked beforefrom 13 founders with career history
FELIX CAPITAL ×2Lauxera Capital Partners ×2
Investments · 93 tracked
founders shown can be your intro pathBy year:2026 · 12024 · 12020 · 13 dated
13books is a fintech investment firm that backs and supports financial technology founders and companies in Europe.
Fintech
Laza Medical develops AI-powered robotic systems and imaging solutions for structural heart and electrophysiology procedures.
AI & Machine LearningBiotechMedical DevicesRoboticsMenlo Park, US
BoardDr. Ruben Osnabrugge(Lead Partner)
Acton Capital is a venture capital firm that invests in startups at Series A and early growth stages, typically making initial investments of €5-10m in companies founded by industry experts across Europe and Canada.
Sector Agnostic
AENU is a venture capital firm that invests in founders developing technologies for decarbonization, ecosystem restoration, and sustainable value creation.
AI & Machine LearningClimate TechImpact & Social Good
Co-investorsOVNI Capital
exceet Card Group is a European manufacturer of smart card solutions and identity documents for public authorities, banks, and companies in transport, access control, and retail sectors.
Advanced ManufacturingEnterprise SoftwareHardwareKematen, AT
Ulrich Reutner(CEO)Robert Wolny
APEX Ventures is an early-stage venture capital firm that backs deep tech founders across domains including artificial intelligence, autonomous systems and robotics, energy transition, next-gen computing, medical technologies, and space.
Co-investorsCoastCapPoint72 VenturesQC·VENTURESShield Capital8VCAndreessen Horowitz+3 more
Apheris provides a platform enabling large global life sciences organizations to collaborate on sensitive, proprietary data and jointly train machine learning models on distributed datasets while maintaining privacy across teams, borders, and organizations.
AI & Machine LearningBiotechData & InfrastructureMedical Devices
Robin Röhm(Co-Founder & CEO)inMichael Höh(Co-Founder & CTO)in
Co-investorsanother.vcDig Ventures Management LimitedeCAPITAL ENTREPRENEURIAL PARTNERSeCapital Entrepreneurial Partners AGHeal Capitalhubraum+4 more
Apollo is a venture capital firm that invests in life-science and biotechnology startups, combining entrepreneurial expertise with deep scientific knowledge to support early-stage companies in drug development and personalized medicine.
BiotechDeep TechHealthtechLongevity
Nils Regge(Co-Founder & General Partner)in
Co-investorsBLN CapitalCoastCapFJ LabsTruVenturo GmbHCTI Life Sciences Fund L.P.Foresite Capital+3 more
Astanor is an investment firm focused on the agrifood sector, backing companies "from soil and sea to gut" through venture and growth strategies.
AgTechFoodTechImpact & Social Good
Eric Archambeau(Founder)in
Co-investorsExtantia Capital
Atlantic Labs is a venture capital firm that invests in early-stage technology companies building innovative solutions across sectors including food, energy, consumer, AI, and robotics.
AgTechClimate TechDeep TechSector Agnostic
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-investorsBOMNovo HoldingsEuropean Investment FundKfW
Capnamic is a venture capital firm that invests in early-stage startups across multiple sectors with a fund size of EUR 190 million.
Enterprise SoftwareSaaSSector AgnosticCologne, DE
Co-investorsGerman Media PoolPeak
Cavalry is an early-stage venture capital fund that leads pre-seed and seed rounds in software companies across Europe, investing between EUR 500k and 4m in both enterprise and consumer businesses.
Co-investorsBallou CapitalBLN CapitalEIFVR Ventures
Cipio Partners is a partner-owned boutique investment firm founded in 2003 that provides growth-stage capital and active advisory support to European technology companies.
Deep TechEnterprise SoftwareSaaSMunich, DE
Fund specialising in lending to high-growth technology and life sciences businesses.
Co-investorsIreland Strategic Investment Fund
Contrarian Ventures is an early-stage venture capital firm that invests in climate tech founders, acting as first-cheque investor and offering support through initiatives like the Energy Tech Summit, The Climate Brick, and Climate50.
CleantechClimate TechEnergySaaSLithuania, LT
David TrainaviciusinRokas Peciulaitis(Founder & Managing Partner)
Co-investorsExtantia CapitalEuropean Investment Fund
Cusp Capital is a European venture capital firm that invests across enterprise software, infrastructure, deeptech, and sustainable businesses, supporting portfolio companies through operational expertise and strategic guidance.
AI & Machine LearningDeep TechEnterprise SoftwareSaaSBerlin, DE
Cindy Candrian(Co-founder)Anne Scherer(Co-founder)
BoardCarolin(Investment Team Member)Jan(Investment Team Member)Christian(Investment Team Member)Maximilian(Investment Team Member)
Co-investorsPeak
eCAPITAL is a venture capital firm providing early to growth stage funding to technology companies across software and IT, cybersecurity, industry 4.0, new materials, and cleantech.
CleantechCybersecurityNew Materials
General Intuition develops foundation models capable of perceiving, predicting, and acting in the physical world, trained on large-scale gameplay data to power autonomous driving, robotics, and real-world AI applications.
AI & Machine LearningDeep TechFintechInsurTechRoboticsSaaS
Pim de Witte
Co-investorsGeneral CatalystKhosla VenturesBOMPeakCapnamicFounders Future+1 more
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VC fund (founded 2006) supporting entrepreneurs with investment capital and experience.
Co-investorsEnBW New Ventures GmbHTesi (Finnish Industry Investment Ltd)British Patient CapitalEuropean Investment Fund
Headline is a venture capital firm with dedicated teams operating in multiple regions around the world.
Sector AgnosticSan Francisco, US
Co-investorsSDVYolo Investments
UVC Partners is a European early-stage venture capital firm backing technology startups, primarily in Germany.
Co-investorsGiTV, Inc.
This is an editorial/blog article on the website of Visionaries, a venture capital firm, discussing why product-led growth SaaS companies should invest in building a marketing function early.
Sector Agnostic
Epoch Biodesign is a synthetic biology company that engineers enzymes to break down plastic waste into virgin-grade feedstocks at low energy and ambient conditions.
BiotechCircular EconomyCleantechClimate TechEnergyNew MaterialsLondon, GB
Jen Keane(CEO)inBen Reeve(CTO)inJacob Nathan(CEO and Founder)
Co-investorsClean Energy Ventures
Felix Capital is a venture capital firm; this page lists its investment team members and advisors.
ConsumerSector Agnostic
Frederic Court(Founder)in
Co-investorsPeak
Fly.vc is a venture capital firm that invests in early-stage ("zero to one") startups, with a portfolio that has gone on to raise substantial follow-on funding from US and tier-1 European VCs.
Co-investorsMetavallon VCOVNI Capital
FoodLabs is a venture capital firm that invests in and builds companies focused on food, sustainability, health, and climate challenges.
Climate TechFoodTech
Co-investorsYildiz Ventures
A venture capital firm investing in biotech companies across all stages of pharmaceutical development, and in sustainable solutions across food, agriculture, materials, and environmental technologies through its BioEconomy strategy.
AgTechBiotechCleantechClimate TechImpact & Social GoodAmsterdam, NL
Co-investorsBOM
Gilde Healthcare is a transatlantic investment firm managing venture, growth, and private equity funds that back companies in healthcare and climate solutions, including medtech, digital health, therapeutics, and energy transition.
Healthtech
Co-investorsBOMIreland Strategic Investment FundVictrix
Hadean Ventures is a European venture capital fund manager with over EUR 230 million in assets under management, with a track record in life sciences.
Biotech
Co-investorsFarvatn VentureTesi (Finnish Industry Investment Ltd)
High-Tech Gründerfonds (HTGF) is a German multi-stage venture capital firm that invests in early-stage technology startups from pre-seed through growth stages, focusing on Deep Tech, Life Sciences, and Digital Tech.
AI & Machine LearningBiotechDeep Tech
Co-investorsGENIUS Venture CapitalSaxovent
HPE Growth is a technology growth investor that deploys capital ranging from EUR 5-40 million in digital technology companies with EUR 10-100 million turnover, typically taking minority or majority stakes.
Digital HealthEnterprise SoftwareFintechSaaSSector AgnosticNot stated, NL
Co-investorsBOM
HV Capital is a venture capital firm that invests in and backs early-stage and growth-stage technology companies.
Sector AgnosticMunich, DE
Co-investorsPeakRabo Corporate Venturing
This is a venture capital firm focused on deep technology investments, not a portfolio company.
Climate TechData & InfrastructureDeep TechImpact & Social Good
Co-investorsBOM
IRIS is a venture capital and growth investment firm focused on technology companies, providing funding and support from seed and Series A through to late-stage and growth rounds.
Sector Agnostic
Join Capital is an early-stage venture capital firm that invests in deep tech companies across defense, space, quantum and advanced computing, AI and cybersecurity, advanced materials, manufacturing, and autonomous systems and robotics, with a stated focus on Europe.
Deep TechDefense TechSpace Tech
Co-investorsCDP Venture Capital
Keen Venture Partners is a venture capital firm that invests in early-stage technology companies.
Sector Agnostic
Co-investorsKPN Ventures
ifeel is a European mental health platform serving enterprises and insurance companies, aimed at reducing the costs associated with employee and insured-population mental health.
Digital HealthInsurTechMental HealthMadrid, ES
Co-investorsFinTLV VenturesSCOR VenturesUNIQA Ventures GmbH
Co-investorsElevator VenturesKPN VenturesOVNI CapitalPeakQC·VENTURESSamsung Catalyst Fund+2 more
La Famiglia is a European venture capital fund investing at seed and growth stage in technology companies that enable or disrupt large industries.
Sector Agnostic
Co-investorsAngel InvestPeakPRIMEPULSE SERedbus VenturesGeneral Catalyst
Newsworthy.ai is a press release distribution and PR platform that publishes and syndicates news releases through trending RSS feeds.
Marketing TechMedia & EntertainmentSaaS
Co-investorsIris CapitalSuperAngel.Fund
Lauxera is an independent investment fund that backs growth-stage healthtech companies with significant revenue and commercial execution capabilities.
Digital HealthHealthtechMedical DevicesParis, FR
Pierre Moustial(Co-founding Partner)inAlex Slack(Co-founding Partner)in
BoardSamuel Levy(Co-founding Partner)
EQT Life Sciences (formerly LSP) is one of Europe's largest life sciences investment firms that invests in innovative companies developing therapeutics, medical devices, diagnostics, and healthtech solutions.
BiotechDigital HealthHealthtechMedical Devices
Co-investorsTesi (Finnish Industry Investment Ltd)EIF
Nordic Alpha Partners is a venture capital firm that invests in industrial greentech companies across Northern and Continental Europe, providing capital and active value creation support to help portfolio companies scale globally during the renewable energy transition.
Advanced ManufacturingCleantechClimate TechDeep TechEnergyImpact & Social GoodCopenhagen, DK
Troels Øberg(Senior Partner and Head of Fundraising & Operations)inMorten Westh Naldal(Partner and General Counsel)in
Co-investorsAllianz Global InvestorsCopenhagen Infrastructure Partners
Nauta Capital is a venture capital fund that invests across Europe in early-stage technology companies.
Barcelona, ES
Daniel Sanchez(Venture Partner)Carles Ferrer(General Partner)
Nordic Alpha Partners is an investment firm with a portfolio of companies across six sustainable greentech investment areas, managed through Fund I and Fund II.
CleantechClimate TechImpact & Social Good
Co-investorsAM VenturesNordic Alpha Partners
Norrsken VC is an early-stage venture capital firm investing in technology companies addressing large-scale global challenges across energy, industry, and healthcare.
Climate TechDeep TechImpact & Social Good
Co-investorsSella Direct Ventures
Notion Capital is an early-stage venture capital firm that invests in European business software companies, led by former entrepreneurs and operators.
Nucleus Capital is a thesis-driven venture capital firm that writes first checks of up to €1.0M, leading or co-leading early-stage rounds in technical teams across Europe and the US.
BiotechDeep TechFoodTech
Dr. Isabella Fandrych(General Partner)Maximilian Schwarz(General Partner)
Oxx is a venture capital firm that invests in European B2B software companies that have reached product-market fit, leading or co-leading rounds of $5–25m to support their scaling.
Enterprise SoftwareSaaS
Mikael Johnsson(Founder)in
Co-investorsBritish Patient CapitalCapital One VenturesOurCrowd
Oyster Bay is a venture capital firm that invests in impact-driven companies across the food value chain, from agriculture and food-service robotics to alternative ingredients and food brands.
AgTechFoodTechImpact & Social Good
Co-investorsBritish Patient CapitalCapital One VenturesOurCrowdOxx
Planet A is an early-stage European venture capital firm that invests in startups from pre-seed to Series A, focusing on founders addressing systemic global challenges.
Climate TechImpact & Social Good
Co-investorsArbol CapitalNxGenBurda Principal InvestmentsCherry VenturesOmnes CapitalWorld Fund
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Pan-European early-stage venture capital firm investing at pre-seed and seed stage, founded in 2012.
Florian Heinemann(Founder)in
Co-investorsBLN CapitalHarmony PartnersPeakProject A Ventures
Proxima develops stellarator fusion power plants designed to deliver clean, grid-ready electricity.
CleantechDeep TechEnergyMunich, DE
Dr. Francesco Sciortino(CEO and co-founder)Dr. Lucio Milanese(Co-founder and Chief External Affairs Officer)Dr. Jorrit Lion(Chief Scientist and co-founder)Martin Kubie(Chief Engineer and co-founder)inJonathan Schilling(Head of Labs and co-founder)in
Co-investorsBalderton CapitalBayern KapitalBurda Principal InvestmentsCherry VenturesDeepTech & Climate FondsElaia+11 more
Earlybird is a venture capital firm founded in 1997 that backs early-stage technology companies in Europe, focusing on groundbreaking innovations across various sectors.
Sector AgnosticBerlin, DE
Co-investorsCDP Venture CapitalEarlybird DWES Management GmbH & Co. KGOVNI CapitalPRIMEPULSE SEYildiz Ventures
SHS Capital is a private equity fund that invests in fast-growing healthcare and life sciences companies, targeting SMEs and scale-ups in growth situations.
HealthtechTübingen, DE
Co-investorsHelsana HealthInvest AG
Sofinnova Partners is a venture capital and private investment firm that invests across multiple strategies including biotech, digital health, industrial biotechnology, and capital markets.
AI & Machine LearningBiotechDigital Health
Antoine Papiernik(Chairman & Managing Partner)inHenrijette Richter(Managing Partner)inGraziano Seghezzi(Managing Partner)in
Co-investorsCDP Venture Capital
VC fund focused on early-stage, pre-seed and seed startups.
Co-investorsCoastCapElevator VenturesGenerali VenturesOnstageOVNI CapitalPeak+1 more
Mendo provides a SaaS platform that helps large European enterprises adopt generative and agentic AI by integrating adoption guidance directly into everyday tools like Microsoft 365 Copilot and ChatGPT.
AI & Machine LearningEnterprise SoftwareSaaSParis, FR
Quentin Amaudry(CEO and Co-founder)Alexandre Pinon(Co-founder)
BoardAlain Caffi
Co-investorsEducapitalVentech China
Vsquared Ventures is a venture capital firm that invests in deeptech startups, backing companies tackling significant technological risks.
Deep TechMunich, DE
Co-investorsBLN CapitalPractica CapitalPRIMEPULSE SEOVNI CapitalRobin Capital
Wellington Partners is a venture capital firm founded in 1998 that invests in early- and growth-stage life science companies with a focus on biotech and medtech.
BiotechDigital HealthMedical Devices
Lithosquare is an AI platform for mineral discovery and exploration that uses geological expertise and machine learning to identify mineral deposits up to 10 times more efficiently.
AI & Machine LearningCleantechClimate TechDeep TechHardwareCambridge, GB
Xavier Moya(Founder & CEO)Giles Rodway(CTO)Aymeric Préveral-Etcheverry(CEO)Simon Leclair(COO)
Co-investorsOVNI CapitalDaphniSaxoventEIFEuropean Investment Fund
Yttrium is a growth equity investment firm focused on B2B technology companies at the growth stage.
Enterprise SoftwareFrankfurt, DE
YZR Capital is a founder-led, independent investment platform focused on healthcare innovation, backing early-stage to growth-stage companies across Europe.
Munich, DE
Co-investorsBeiersdorf Innovation FundPeakWave VenturesBertelsmann InvestmentsEuropean Investment Fund
Other
Tracked investments with no reachable website or further public details — typically companies that wound down, renamed, or were absorbed.
3VCBGVdatasetEmergeKreoscapitalMarondo CapitalOxford ImmunotecPartechThree
Portfolio news
latest coverage across their companies
Proxima Fusion · proximafusion.com · Aug 19, 2026
Planet A Ventures · planet-a.com · Jun 24, 2026
Notion Capital · techcrunch.com · Sep 30, 2025
Contrarian Ventures · cventures.vc · Sep 29, 2025
YZR Capital · yzr-capital.com · Jun 17, 2025
Frequently asked questions
- How many investments has KfW Capital made?
- KfW Capital has 93 tracked investments, 1 of which have exited, including 1 dated in the last 24 months.
- What stage does KfW Capital invest at?
- KfW Capital invests at the Pre-Seed, Seed, Series A, Series B, Series C, Growth stages.
- What sectors does KfW Capital focus on?
- KfW Capital focuses on Deep Tech, Sector Agnostic.
- Where is KfW Capital located?
- KfW Capital is headquartered in Frankfurt am Main, DE.
- Who does KfW Capital co-invest with?
- KfW Capital most often shares deals with Peak, BLN Capital, BOM, among 62 tracked co-investors.
Media · Podcasts & interviews
featuring the teamVC Talk mit Dr. Jörg Goschin, KfW Capital
der brutkasten · Dr. Jörg Goschin
Alexander Thees, KfW Capital: "Divers aufgestellte Teams sind einfach erfolgreicher!"
brutkasten · Alexander Thees
KfW Capital Awards: Dr. Jörg Goschin im Gespräch mit Ulrike Hinrichs
Bundesverband Beteiligungskapital e.V. · Dr. Jörg Goschin
#Chancenmacher: Dr. Jörg Goschin, Geschäftsführer KfW Capital
Bundesverband Beteiligungskapital e.V. · Dr. Jörg Goschin
BVK fragt nach bei Dr. Jörg Goschin und Alexander Thees, KfW Capital: "Wir wollen aktiv fördern"
Bundesverband Beteiligungskapital e.V. · Dr. Jörg Goschin
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