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Investor profile

KfW Capital

Fund Of Funds · Founded 2018 · Frankfurt, Germany

Website ↗LinkedIn ↗X / Twitter ↗Dealroom ↗

German government-backed investment firm that acts as a limited partner by investing in venture capital and venture debt funds to support innovative startups and growth companies

85 funds backed Fund of fund · $3.0B AUM · LP rank #197 · 3 direct holdings · Last investment 7/2026
Funds backed 85
Power Law funds backed 11
Direct holdings 3
Power Law #197LP Ranking · #27 of 44 funds of funds
Featured in
News Proxima Fusion raises €411M to build Europe's biggest fusion bet Jul 7, 2026 News Isar Aerospace closes €270M Series D to scale Spectrum rocket production Jun 9, 2026 News Samaipata closes €70M first tranche of €110M Fund III for AI-native startups Mar 11, 2026
Fund commitments

The funds KfW Capital backs.

KfW Capital is a limited partner in 85 funds. 11 of them place in the Power Law Investor Ranking, and the best-ranked are shown here.

HV Capital
Germany
#62 Power Law
Partech
France
#72 Power Law
Speedinvest
Austria
#116 Power Law
Redalpine
Switzerland
#199 Power Law
Cherry Ventures
Germany
#206 Power Law
b2venture
Switzerland
#213 Power Law
HTGF
Germany
#340 Power Law
Atlantic
Germany
#380 Power Law
Headline
United States
#387 Power Law
Project A
Germany
#467 Power Law
Acton Capital
Germany
#485 Power Law
Portfolio analysis

Where KfW Capital’s portfolio is concentrated.

Distribution of portfolio companies by headquarters country, sector, entry stage and current growth stage. Across all 3 portfolio companies. "Stage entered" is the first priced round the investor joined, derived from the investor’s transaction history.

By countryCount
  1. Germany3
By sectorCount
  1. Energy1
  2. Enterprise Software1
  3. Space1
  4. Sports1
By stage enteredCount
  1. Series B+2
  2. Seed1
By growth stageCount
  1. Late Growth2
  2. Early Growth1
Portfolio founders

Where KfW Capital’s portfolio founders come from.

10 founders across the 3 highest-funded portfolio companies — by current location, university attended, and the companies they worked at before founding. Sourced from the founder records the API links to each portfolio company.

LocationCount
  1. Germany10
UniversityCount
  1. Massachusetts Institute of Technology2
  2. Technical University Munich2
  3. Hochschule Esslingen1
  4. NürtingenGeislingen University of Applied Science1
  5. Technical University Berlin1
  6. Technical University of Vienna1
  7. Tsinghua University1
  8. University of Cambridge1
  9. University of Heidelberg1
  10. University of Sussex1
Previous companyCount
  1. Max Planck Institute for Plasma Physics3
  2. Massachusetts Institute of Technology2
  3. Bearing Point1
  4. Caltech Entrepreneurs Forum1
  5. Caltech, California Institute of Technology1
  6. Centre for Social Investment (CSI)1
  7. Commerzbank1
  8. Deutsche Bank1
  9. EPFL Swiss Federal Polytechnic School of Lausanne1
  10. Euro-fusion1
How KfW Capital stacks up

Similar LPs.

Other funds of funds in the Power Law LP ranking, closest to KfW Capital by combined power-law score, with the assets each one manages and how many VC funds it backs.

Park Street Capital
LP rank #185 · United States
$688M AUM 18 VC funds backed
Korea Venture Investment Corporation
LP rank #187 · South Korea
$8.2B AUM 44 VC funds backed
Carlyle AlpInvest
LP rank #190 · United States
$65B AUM 42 VC funds backed
abrdn Private Equity
LP rank #196 · United Kingdom
$330M AUM 10 VC funds backed
VCM Capital Management
LP rank #214 · Germany
16 VC funds backed
Siguler Guff & Company
LP rank #229 · United States
$16B AUM 24 VC funds backed
Moses Capital
LP rank #248 · United States
21 VC funds backed
Mastertech Capital
LP rank #263 · Spain
$110M AUM 11 VC funds backed
Key people

Key people at KfW Capital.

Jörg Goschin
Jörg Goschin
CEO
 Stefan B. Wintels
Stefan B. Wintels
CEO
 Alexander Thees
Alexander Thees
Managing Director
 Judith Koelzer-Soeding
Judith Koelzer-Soeding
Board Member
 Judith Kölzer-Söding
Judith Kölzer-Söding
Board Member
 Stefan Peiß
Stefan Peiß
Deputy Chairman of the Supervisory Board
 Timo Bartell
Timo Bartell
Board Member
Source: Dealroom next-gen API — investor team endpoint.
Figures on this page are sourced live from the Dealroom next-gen API, joined with Dealroom’s cap-table dataset (estimated holdings) and the Power Law Investor Ranking. News in “Featured in” is drawn from Dealroom’s own coverage — the stories that name this investor, not only those it is the subject of. Market sentiment is omitted until the API exposes it.