# KfW Capital: portfolio, investments and team > KfW Capital is a fund of funds based in Germany. 4 investments on record, 4 in the last 12 months, latest Sept 2026. Portfolio, stages, co-investors and team. Source: https://millionrounds.com/fund/kfw-capital (Millionrounds; every figure on the page links to its filing or article) Germany · [Investor](https://millionrounds.com/investors) # KfW Capital Last cheque observed Sep 2026; 4 cheques on record. Email Deploying now Fund of funds Series B Growth Series D Financial Services Follow KfW Capital and see its new cheques in your feed. [Start following](https://millionrounds.com/login?join=1&why=follow&next=%2Ffund%2Fkfw-capital) Deploying now **100%** of best year **4** **cheques in 12 months**, 4 on record Since the last cheque **32** days **00** hrs **00** min **00** sec Median round **$291M** Rounds led **0 of 4** Pitch KfW Capital ## KfW Capital highlights - 01 4 cheques in the last 12 months - 02 Mostly Series B and Growth: 75% of its rounds ## What they do > Als 100%ige Tochter der KfW Bankengruppe investieren wir in deutsche und europäische Venture Capital (VC)- und Venture Debt-Fonds From their own website - **Type:** Fund of funds - **Cheque size:** Not stated - **Sectors:** Financial Services - **Based in:** Frankfurt, Germany - **Cold pitches:** Not stated ## The record Every round we can evidence, newest first **4 appearances** - **2026** 4 rounds - **Sept** **[Reverion](https://millionrounds.com/company/reverion)** Series B · DE · TechStartups **$175M** With 6 others - **Sept** **[Exein](https://millionrounds.com/company/exein)** Growth · IT · eCapital Entrepreneurial Partners **$270M** With 16 others - **Jul** **[Proxima Fusion](https://millionrounds.com/company/proxima-fusion)** Series B · DE · TechStartups **$468M** With 12 others - **Jun** **[Isar Aerospace](https://millionrounds.com/company/isar-aerospace)** Series D · DE · Ventureburn **$312M** With 8 others 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. Funds they back ## 3 fund commitments on record - **Managers:** 3 Every fund on record that it has committed money to, and the managers who invest it. Source: fund news. Managers it backs most - [415 Capital Management GmbH 1 fund](https://millionrounds.com/fund/415-capital-management-gmbh) - [Claret Capital Partners 1 fund](https://millionrounds.com/fund/claret-capital-partners) - [Nauta Capital 1 fund](https://millionrounds.com/fund/nauta-capital) Most recent commitments - [415 Capital Management GmbH 415 Capital Fund II](https://millionrounds.com/fund/415-capital-management-gmbh) - [Claret Capital Partners CEGCF IV (Fund IV)](https://millionrounds.com/fund/claret-capital-partners) - [Nauta Capital Fund VI](https://millionrounds.com/fund/nauta-capital) ## The cheque Series B Growth Series D Median round joined **$291M** the round, not its cheque Led 0 of 4 rounds **0%** - **Sole investor:** Never alone - **Last cheque:** Sept 2026 Rounds by stage said on their site - Series B *2* - Growth *1* - Series D *1* Cheques by month Led Joined Nov 2023 Oct 2026 Often in the room with - [UVC Partners](https://millionrounds.com/fund/uvc-partners) 3 - [Balderton Capital](https://millionrounds.com/fund/balderton-capital) 2 - [HV Capital](https://millionrounds.com/fund/hv-capital) 2 - [Lakestar](https://millionrounds.com/fund/lakestar) 2 **Pitching KfW Capital?** Put them on your fundraising board with this record on the card, and follow them to hear when they write a new cheque. Add to your CRM *→* ## Who they invest alongside The investors most often in the same rounds as KfW Capital. A count of rooms they were both in, not a relationship either has claimed. [**UVC Partners** VC firm **3** rounds together](https://millionrounds.com/fund/uvc-partners)[**Balderton Capital** VC firm **2** rounds together](https://millionrounds.com/fund/balderton-capital)[**HV Capital** VC firm **2** rounds together](https://millionrounds.com/fund/hv-capital)[**Lakestar** VC firm **2** rounds together](https://millionrounds.com/fund/lakestar) ## Recently backed The latest companies KfW Capital put money into. [**Reverion** $175M · Sept 2026](https://millionrounds.com/company/reverion)[**Exein** $270M · Sept 2026](https://millionrounds.com/company/exein)[**Proxima Fusion** $468M · Jul 2026](https://millionrounds.com/company/proxima-fusion)[**Isar Aerospace** $312M · Jun 2026](https://millionrounds.com/company/isar-aerospace) ## Mentioned on podcasts Episodes that name KfW Capital in their description, not their title. - [Scaling Europe](https://millionrounds.com/podcasts/scaling-europe) 15 Sept 2026 · 21 min Gianni Cuozzo, Founder & CEO at Exein: BREAKING: Exein raised $270M at a $1.7B valuation With [Gianni Cuozzo](https://millionrounds.com/person/gianni-cuozzo) Mentions [European Investment Bank](https://millionrounds.com/fund/european-investment-bank)[KfW Capital](https://millionrounds.com/fund/kfw-capital) Apple PodcastsShow page ## Quick answers about KfW Capital ### What does KfW Capital invest in? KfW Capital invests most often at Series B and Growth (75% of the rounds on record), in sectors such as Financial Services. ### How active is KfW Capital? 4 investments on record, 4 of them in the last 12 months. The most recent was in Sept 2026. ### What has KfW Capital invested in recently? Its most recent investments on record: Reverion (Series B, Sept 2026), Exein (Growth, Sept 2026) and Proxima Fusion (Series B, Jul 2026). ### How big are KfW Capital's cheques? The median round it joins is $291M. ### Is KfW Capital investing now? Yes: it is actively investing, with 4 investments in the last 12 months. ### Who does KfW Capital invest alongside? Most often UVC Partners (3 rounds together), Balderton Capital (2 rounds together) and HV Capital (2 rounds together). ### What kind of investor is KfW Capital? KfW Capital is a fund of funds based in Frankfurt, Germany. ### Where does this information on KfW Capital come from? From 12 articles and filings naming it in a round, public registers and its own website, checked and rebuilt every night. ## Raising now? Find the investors who back rounds like yours, and keep every conversation on one fundraising board. Find similar investorsOpen your CRM Built from the rounds we watched, its filings and its own website, refreshed every night. [How we count](https://millionrounds.com/methodology) · [Report a correction](https://millionrounds.com/corrections?slug=kfw-capital) · [Is this your firm? Claim it](https://millionrounds.com/claim?org=kfw-capital)