# KFW DEG: portfolio, investments and team

> KFW DEG is a government based in Germany. 7 investments on record, 1 in the last 12 months, latest Oct 2026. Portfolio, stages, co-investors and team.

Source: https://millionrounds.com/fund/deg (Millionrounds; every figure on the page links to its filing or article)

Germany · [Investor](https://millionrounds.com/investors)

# KFW DEG

Last cheque observed Oct 2026; 7 cheques on record.

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Government Deploying now

Growth Seed Series B Renewable_energy Infrastructure

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Deploying now

**25%** of best year **1** **cheques in 12 months**, 7 on record

Since the last cheque **16** days **00** hrs **00** min **00** sec

Median round **$38M** Rounds led **0 of 7** Mostly in **Brazil, 29%**

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## KFW DEG highlights

- 01 1 cheques in the last 12 months
- 02 Mostly Growth and Seed: 40% of its rounds

## What they do

> Seit über 60 Jahren finanziert, berät und begleitet die DEG private Unternehmen, die in Entwicklungs- und Schwellenländern tätig sind. From their own website

- **Type:** Government
- **Cheque size:** Not stated
- **Sectors:** Renewable_energy Infrastructure
- **Based in:** Köln, Germany
- **Cold pitches:** Not stated

## The record

Every round we can evidence, newest first **7 appearances**

- **2026** 1 round
- **Oct** **[Alice](https://millionrounds.com/company/alice)** Series D · BR · Contxto **$40M** With 7 others
- **2025** 4 rounds
- **Nov** **[Farm to Feed](https://millionrounds.com/company/farm-to-feed)** Seed · KE · Disrupt Africa **$1.5M** With 9 others
- **Jul** **[Neon](https://millionrounds.com/company/neon)** Growth · BR · LatamList **$129M** With 3 others
- **Feb** **[Oze](https://millionrounds.com/company/oze)** GH · Disrupt Africa **Undisclosed** With 6 others
- **Jan** **[Naked](https://millionrounds.com/company/naked)** Series B · ZA · Disrupt Africa **$38M** With 5 others
- **2018** 1 round
- **Jul** **[C88](https://millionrounds.com/company/c88)** SG · TechCrunch **$28M** With 9 others
- **2015** 1 round
- **Apr** **[Surfline Communications](https://millionrounds.com/company/surfline-communications)** Venture · GH **$15M** With 1 other

An announcement gives the size of the round, not the size of this investor's cheque: the only rounds that imply a cheque are those where they were the sole named investor.

## The team

We hold **1** person at this firm from the lists this database was built from: a weaker source than the filings, since a list does not say when a title ended. Login to see them.

## The cheque

Growth Seed Series B

Median round joined **$38M** the round, not its cheque

Led 0 of 7 rounds **0%**

- **Sole investor:** Never alone
- **Last cheque:** Oct 2026

Rounds by stage said on their site

- Growth *1*
- Seed *1*
- Series B *1*
- Series D *1*
- Venture *1*

Cheques by month Led Joined

Dec 2023 Nov 2026

Often in the room with

- [International Finance Corporation](https://millionrounds.com/fund/international-finance-corporation-ifc) 3

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## Who they invest alongside

The investors most often in the same rounds as KFW DEG. A count of rooms they were both in, not a relationship either has claimed.

[**International Finance Corporation** Government **3** rounds together](https://millionrounds.com/fund/international-finance-corporation-ifc)

## Recently backed

The latest companies KFW DEG put money into.

[**Farm to Feed** $1.5M · Nov 2025](https://millionrounds.com/company/farm-to-feed)[**Naked** $38M · Jan 2025](https://millionrounds.com/company/naked)

## Quick answers about KFW DEG

### What does KFW DEG invest in?

KFW DEG invests most often at Growth and Seed (40% of the rounds on record), in sectors such as Renewable_energy and Infrastructure.

### How active is KFW DEG?

7 investments on record, 1 of them in the last 12 months. The most recent was in Oct 2026.

### What has KFW DEG invested in recently?

Its most recent investments on record: Alice (Series D, Oct 2026), Farm to Feed (Seed, Nov 2025) and Neon (Growth, Jul 2025).

### How big are KFW DEG's cheques?

The median round it joins is $38M.

### Does KFW DEG lead rounds?

Rarely, if at all: none of its 7 investments on record names it as the lead.

### Where does KFW DEG invest?

Most of the companies it backs are in Brazil (29%), Ghana (29%) and Kenya (14%).

### Is KFW DEG investing now?

Yes: it is actively investing, with 1 investments in the last 12 months.

### Who does KFW DEG invest alongside?

Most often International Finance Corporation (3 rounds together).

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