Final closing of the “Growth Fund Germany”: 1 billion euros for strengthening
of the European and German venture capital ecosystem
Frankfurt am Main (ots) –
– Venture capital (VC) fund of funds as a central building block of the future fund
Federal Government
– Mobilization of private capital for the VC asset class; Strengthening for the
Innovation location Europe and Germany
– Target volume of 1 billion euros achieved
– Over 20 investors are participating alongside the Future Fund and KfW Capital
The “Growth Fund Germany” has reached its target volume of EUR 1 billion.
This is a central component of the Federal Government’s Future Fund
been realized. The Germany growth fund is one of the largest
VC funds of funds that have ever been launched in Europe and feeds itself
mostly from private funds. The investors include the federal government and
KfW Capital as anchor investors over 20 important institutional investors,
including insurance companies, pension funds, foundations, asset managers and
large family offices, namely Allianz, BlackRock, Debeka, Generali, among others
Deutschland AG, Gothaer Versicherung, HUK-Coburg, the RAG Foundation, SIGNAL
IDUNA, Stuttgarter Lebensversicherung aG, Tecta Invest and Württembergische
Life Insurance Ltd.
Together with other investors, the growth fund invests in German and…
international VC funds with an investment focus in Europe and Germany. The
Access to urgently needed growth capital is thus guaranteed for start-ups and…
innovative technology companies significantly improved, and the
Europe and Germany strengthened as innovation locations. KfW Capital operates at
Growth fund Germany both as an investment intermediary and as
Investment advisor. The German Growth Fund is managed by the
Fund service platform Universal Investment Group.
What’s special about the structure of the Germany Growth Fund: It consists of:
two parallel investment vehicles that suit different risk preferences
of individual investor groups. The general association of Germans
Insurance industry (GDV) and its member companies had the
We played a key role in structuring the growth fund.
Dr. Robert Habeck, Federal Minister for Economic Affairs and Climate Protection: “Under great circumstances
This was possible with the participation of numerous private institutional investors
Target volume of one billion euros can be achieved in a short time. It speaks
for the strength of the German business location that the growth fund
Germany, with its innovative model, also faces a more difficult one
macroeconomic environment has achieved this goal. First investments are
already started, so that part of the capital is already having an impact
Venture capital market unfolds. The growth fund makes a significant contribution
Contribution to the implementation of the start-up strategy of July 2022 and to strengthening the
Germany as a business and innovation location.”
Christian Lindner, Federal Minister of Finance: “Germany is one country
full of good ideas. That’s why we’re very pleased that we’re working with the growth fund
Germany to launch one of the largest venture capital funds of funds ever in
Europe was created with private capital. The growth fund
Germany offers investors an excellent, broad spectrum
and diversified access to European and German venture capital. He is
a prime example of how the state and companies work together
how capital can be released from the private sector and how growth can take place
can be created. And not through government subsidies, but
through the use of private investors.”
Stefan Wintels, CEO of KfW Bankengruppe and
Chairman of the Supervisory Board of KfW Capital: “With the Growth Fund Germany
has succeeded in creating a marketable structure for mobilizing private
to raise capital. This fund is a great example of how that
public sector and private investors work together to create the VC ecosystem
“We can strengthen Germany and Europe.”
Dr. Jörg Goschin, Managing Director of KfW Capital: “With the growth fund
Germany, both experienced and new investors benefit from the market expertise of the
investment advisor KfW Capital as one of the largest VC fund investors in Europe.
With our holistic due diligence and our experienced investment team
We are able to select the highly attractive VC funds in Europe.
Many investors have entered the European Venture Capital asset class for the first time
invested, which has had a very good performance in recent years
and even outperformed the US market in terms of profitability.”
Dr. Sofia Harrschar, Head of Alternative Investments & Structuring, Universal
Investment Group: “We are pleased that we are working together with KfW Capital
succeeded in finding a tailor-made solution for the different investor groups
to develop so well despite the difficult market conditions in 2023
was accepted. This enables institutional investors to get started
into the innovative venture capital asset class.”
The fund’s investment focus is on German and European investments
VC funds with a focus on later stage; the sector focus is on the areas
ICT (information and communication technology), life science and climate
and Food Tech. As usual, the German growth fund has already started after the
First closing, mid-December 2022, investment activity started and until
By mid-November 2023, it was already in 16 VC funds with a volume of EUR 265 million
invested.
Note: Find quotes from the following investors in the Growth Fund Germany
See: Growth Fund Germany (kfw-capital.de)
(https://www.kfw-capital.de/Newsroom/Wachstumsfonds-Deutschland/)
– Dirk Schmitz, Country Head of Germany, Austria and Eastern Europe & Regional
Head of DACH at BlackRock
– Ralf Degenhart, CFO of Debeka
– Ulrich Ostholt, Chief Investment Officer Generali Deutschland AG
KfW Capital is the coordinator of the “Zukunftsfonds” (“participation fund for
Future technologies”). Stand for quantitative expansion by 2030
and the qualitative expansion of existing financing offers as well as the
Around EUR 10 billion is available for the development of new instruments. Over and beyond
The ERP special fund participates financially in several instruments
Future Fund. Together with other private and public partners
the VC ecosystem through the future fund with its various modules
sustainably strengthened. KfW Capital coordinates the individual building blocks
Future fund together with the Federal Ministry for Economic Affairs and Climate Protection
and the Federal Ministry of Finance and KfW, the European
Investment funds (EIF), the High-Tech Gründerfonds (HTGF) and the Deep Tech and
Climate Fund (DTCF). The future fund currently consists of eight
building blocks. Further information can be found at
https://www.kfw-capital.de/Investmentfocused/Zukunftsfonds.
Press contact:
KfW Capital, Bockenheimer Landstr. 98-100, 60323 Frankfurt
Sonja Höpfner, press spokeswoman
Tel. +49 (0)69 7431 4306
E-mail: mailto:[email protected], Internet: http://www.kfw-capital.de
Further material: http://presseportal.de/pm/41193/5654943
OTS: KfW