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Investor profile

KfW

Fund Of Funds, Sovereign Wealth Fund · Founded 1948 · Frankfurt, Germany

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German government-owned development bank, based in Frankfurt

83 funds backed Sovereign wealth · $624B AUM · LP rank #250 · 81 direct holdings · Last investment 7/2026
Funds backed 83
Power Law funds backed 5
Direct holdings 81 ↑ 10% 5y
Power Law #250LP Ranking · #7 of 8 sovereign wealth funds
Featured in
News Cross Border Impact Ventures raises $58M USD toward women's health fund Aug 6, 2026 News Rheinbahn secures €100M loan from KfW IPEX-Bank for Düsseldorf transit Aug 3, 2026 News Germany's WIN fund deploys first capital, commits €185M to venture funds Jul 15, 2026
Fund commitments

The funds KfW backs.

KfW is a limited partner in 83 funds. 5 of them place in the Power Law Investor Ranking, and the best-ranked are shown here.

Partech
France
#72 Power Law
Cherry Ventures
Germany
#206 Power Law
HTGF
Germany
#340 Power Law
Project A
Germany
#467 Power Law
Acton Capital
Germany
#485 Power Law
Portfolio analysis

Where KfW’s portfolio is concentrated.

Distribution of portfolio companies by headquarters country, sector, entry stage and current growth stage. Across all 81 portfolio companies. "Stage entered" is the first priced round the investor joined, derived from the investor’s transaction history.

By countryCount
  1. Germany72
  2. Bangladesh1
  3. Belgium1
  4. France1
  5. India1
  6. Kenya1
  7. Namibia1
  8. Netherlands1
  9. North Macedonia1
  10. Switzerland1
  11. Tanzania1
  12. Uganda1
By sectorCount
  1. Health25
  2. Energy15
  3. Enterprise Software13
  4. Fintech8
  5. Marketing8
  6. Transportation8
  7. Food4
  8. Home Living4
  9. Education2
  10. Event Tech2
  11. Media2
  12. Semiconductors2
By stage enteredCount
  1. Series A31
  2. Series B+30
  3. Seed15
By growth stageCount
  1. Early Growth43
  2. Breakout Stage33
  3. Late Growth5
  4. Mature3
Portfolio market map

Inside KfW’s portfolio.

The 60 highest-funded portfolio companies, of 81 tracked.

CureVac
Health
$599M
Isar Aerospace
Space · Unicorn
$1.2B
Proxima Fusion
Energy · Unicorn
$2.6B
Immatics biotechnologies
Health
$755M
Free Now
Transportation
$197M
Productsup
Marketing
$80M
Simplesurance
Fintech
$46M
Curetis
Health
$29M
Cleverciti Systems
Transportation
$75M
Cynora
Semiconductors
$300M
SuppreMol
Health
$220M
Springlane
Food
$88M
CryoTherapeutics
Health
$68M
Electrochaea
Energy
$158M
OMEICOS Therapeutics
Health
$68M
Protagen
Health
$5.4M
Bettermarks
Education
$39M
Andercore
Energy
$128M
Novaled
Energy
$49M
CEI Africa
Energy
Numares
Health
$8.8M
Innolume
Energy
$38M
BigRep
Engineering and Manufacturing Equipment
$179M
Elektrani na Severna Makedonija
Energy
NamPower
Energy
CEF Group
Energy
$84M
GNA Biosolutions
Health
$54M
TurnKey Lender
Fintech
$31M
Phenex Pharmaceuticals
Health
$22M
Intelligent Fluids
Energy
$44M
Hemovent
Health
$135M
Pflege.de
Health
$18M
Cytocentrics
Health
$63M
amcure
Health
$26M
Acousia Therapeutics
Health
$44M
Equity for Tanzania
Health
Sloning BioTechnology
Health
$21M
Volders
Fintech
$22M
Micropelt
Energy
$29M
GOVECS
Energy
$55M
AYOXXA
Health
$10M
Clickworker
Jobs Recruitment
$5.5M
Minodes
Marketing
$16M
SOLshare
Energy
$4.4M
Subitec
Food
$20M
Signature Diagnostics GmbH
Germany
Ranking Coach
Marketing
$22M
Vectoflow
Transportation
$18M
SmartB
Energy
$18M
Ubitexx
Security
$15M
advanceCOR
Health
$17M
Trinckle
Enterprise Software
$13M
ParkTAG
Transportation
$6.2M
Biametrics
Health
$14M
Myobis
Event Tech
$6.6M
datapine
Enterprise Software
$12M
nello
Home Living
$6.6M
Augmentation Industries
Transportation
$6.6M
VIOSO
Media
$1.3M
8select
Fashion
$6.2M
Portfolio founders

Where KfW’s portfolio founders come from.

78 founders across the 84 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. Germany53
  2. Peru4
  3. India3
  4. France2
  5. Uganda2
  6. United Kingdom2
  7. United States2
  8. Bangladesh1
  9. Finland1
  10. Kenya1
UniversityCount
  1. Technical University Munich8
  2. Technical University Berlin3
  3. University of Tübingen3
  4. WHU Otto Beisheim School of Management3
  5. ESCP Business School2
  6. Free University of Berlin2
  7. Kharkiv National University of Radioelectronics2
  8. Ludwig Maximilian University of Munich2
  9. Massachusetts Institute of Technology2
  10. Technical University of Darmstadt2
Previous companyCount
  1. Max Planck Institute for Plasma Physics3
  2. Siemens3
  3. BMW Group2
  4. Capgemini2
  5. Commerzbank2
  6. Deutsche Bank2
  7. Fairrank2
  8. Free University of Berlin2
  9. Hanse Ventures2
  10. Imperial College London2
How KfW stacks up

Similar LPs.

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

Alaska Permanent Fund
LP rank #16 · United States
$78B AUM 76 VC funds backed
GIC
LP rank #71 · Singapore
$769B AUM 34 VC funds backed
Ireland Strategic Investment Fund
LP rank #175 · Ireland
$14B AUM 46 VC funds backed
British Business Bank
LP rank #195 · United Kingdom
$4.9B AUM 64 VC funds backed
Bpifrance
LP rank #215 · France
$22B AUM 70 VC funds backed
Mubadala Investment Company
LP rank #246 · United Arab Emirates
$302B AUM 15 VC funds backed
Export and Investment Fund of Denmark
LP rank #309 · Denmark
$3.4B AUM 15 VC funds backed
Key people

Key people at KfW.

Stefan Peiß
Stefan Peiß
CRO
 Melanie Kehr
Melanie Kehr
Board Member
 Stefan B. Wintels
Stefan B. Wintels
CEO
 Isabelle Canu
Isabelle Canu
President
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.