# KfW: portfolio, investments and team

> KfW is a government based in Germany. 88 investments on record, 1 in the last 12 months, latest Jan 2026. Portfolio, stages, co-investors and team.

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

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

# KfW

Last cheque observed Jan 2026; 88 cheques on record.

Email

Deploying now Government Website unconfirmed

Seed Series A Series B Fin-tech Finance Wealthtech

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Deploying now

**100%** of best year **1** **cheques in 12 months**, 88 on record

Since the last cheque **289** days **00** hrs **00** min **00** sec

Median round **$13M** Rounds led **0 of 88** Sole investor **4 rounds** Exits **10 from the portfolio** Mostly in **Germany, 89%**

Pitch KfW

## KfW highlights

- 01 1 cheques in the last 12 months
- 02 Mostly Series B and Series A: 62% of its rounds
- 03 Sole investor in 4 rounds, median $50M
- 04 10 exits from the portfolio

## What they do

- **Type:** Government (from a list, unverified)
- **Cheque size:** From $10M as they say
- **Stages:** Seed Series A Series B Growth
- **Sectors:** Fin-tech Finance Wealthtech
- **Based in:** Frankfurt, Germany
- **Cold pitches:** Not accepted

A website was listed for this organisation, but we could not confirm it belongs to the firm that wrote these cheques. Either the site never mentions them, or it turned out to be a different company sharing the name. We show neither it nor anything read from it. [Tell us the right one](https://millionrounds.com/corrections?slug=kfw).

## The record

Every round we can evidence, newest first **88 appearances**

- **2026** 1 round
- **Jan** **[REGMIFA, S.A.](https://millionrounds.com/company/regmifa-s-a)** LU · Regional MSME Investment Fund for Sub-Saharan Africa REGMIFA **$13M** Sole investor
- **2019** 1 round
- **Aug** **[GNA Biosolutions](https://millionrounds.com/company/gna-biosolutions)** Series C · DE · FinSMEs **$14M** With 10 others
- **2015** 4 rounds
- **Sept** **[datapine](https://millionrounds.com/company/datapine)** Series A **$3.0M** With 3 others
- **Apr** **[OMEICOS Therapeutics GmbH](https://millionrounds.com/company/omeicos-therapeutics-gmbh)** Series A · DE **$6.6M** With 3 others
- **Apr** **[Eskom Holdings](https://millionrounds.com/company/eskom-holdings)** Debt · ZA **$339M** Sole investor
- **Jan** **[Shelter Afrique](https://millionrounds.com/company/shelter-afrique)** Debt · KE **$50M** Sole investor
- **2014** 2 rounds
- **Nov** **[Electrochaea](https://millionrounds.com/company/electrochaea)** Series A · US **Undisclosed** With 3 others
- **Jul** **[AYOXXA Biosystems](https://millionrounds.com/company/ayoxxa-biosystems)** Series B · DE **$12M** With 5 others
- **2013** 5 rounds
- **Dec** **[yetu](https://millionrounds.com/company/yetu)** Series A · DE · techcrunch.com **$8.0M** With 1 other
- **Aug** **[Capical](https://millionrounds.com/company/capical)** Series A · DE · finsmes.com **Undisclosed** With 1 other
- **Apr** **[Rodos BioTarget](https://millionrounds.com/company/rodos-biotarget)** Venture · DE · finsmes.com **$3.4M** With 2 others
- **Feb** **[reBuy.de](https://millionrounds.com/company/rebuy-de)** Series B · DE **$3.3M** With 2 others
- **Jan** **[SIRION BIOTECH](https://millionrounds.com/company/sirion-biotech)** Venture · DE · dgap.de **Undisclosed** With 3 others
- **2012** 14 rounds
- **Dec** **[Clickworker GmbH](https://millionrounds.com/company/clickworker-gmbh)** DE **$842K** With 6 others
- **Nov** **[RegioHelden](https://millionrounds.com/company/regiohelden)** Series A · DE **Undisclosed** With 2 others
- **Oct** **[avandeo](https://millionrounds.com/company/avandeo)** DE · finsmes.com **Undisclosed** With 4 others
- **Oct** **[Zalando](https://millionrounds.com/company/zalando)** Debt · DE · techcrunch.com **$53M** With 1 other
- **Sept** **[GOVECS](https://millionrounds.com/company/govecs)** Venture · DE · finsmes.com **$13M** With 2 others
- **Sept** **[Augmentation Industries](https://millionrounds.com/company/augmentation-industries)** Seed · DE · gruenderszene.de **$1.9M** With 1 other
- **Aug** **[Implandata Ophthalmic Products](https://millionrounds.com/company/implandata-ophthalmic-products)** Series A · DE · finsmes.com **$2.0M** With 2 others
- **Aug** **[evidanza](https://millionrounds.com/company/evidanza)** Series C · DE · vc-magazin.de **$5.2M** With 3 others
- **Jul** **[Customer Alliance](https://millionrounds.com/company/customer-alliance)** Series B · DE · finsmes.com **Undisclosed** With 5 others
- **Jul** **[Subitec](https://millionrounds.com/company/subitec)** Series B · DE · finsmes.com **$5.5M** With 3 others
- **May** **[Algiax Pharmaceuticals](https://millionrounds.com/company/algiax-pharmaceuticals)** Series A · DE · finsmes.com **$5.5M** With 1 other
- **May** **[Micropelt](https://millionrounds.com/company/micropelt)** Venture · DE · finsmes.com **$8.5M** With 3 others
- **Feb** **[LipoFIT Analytic](https://millionrounds.com/company/lipofit-analytic)** Series B · DE · onbiovc.com **$9.5M** With 1 other
- **Jan** **[Intelligent Apps (mytaxi)](https://millionrounds.com/company/intelligent-apps-mytaxi)** Series B · DE · techcrunch.com **$13M** With 4 others
- **2011** 18 rounds
- **Dec** **[Zitra.com](https://millionrounds.com/company/zitra-com)** Seed · DE **Undisclosed** With 1 other
- **Oct** **[Humedics](https://millionrounds.com/company/humedics)** Series A · DE · finsmes.com **Undisclosed** With 3 others
- **Oct** **[LipoFIT Analytic](https://millionrounds.com/company/lipofit-analytic)** Venture · DE · finsmes.com **$9.5M** With 2 others
- **Sept** **[reBuy.de](https://millionrounds.com/company/rebuy-de)** Series A · DE **$8.2M** With 2 others
- **Sept** **[apprupt](https://millionrounds.com/company/apprupt)** Series B · DE · eu.techcrunch.com **Undisclosed** With 2 others
- **Sept** **[Sividon Diagnostics](https://millionrounds.com/company/sividon-diagnostics)** DE · finsmes.com **Undisclosed** With 2 others
- **Jul** **[CEVEC Pharmaceuticals](https://millionrounds.com/company/cevec-pharmaceuticals)** Venture · DE · finsmes.com **$8.6M** With 2 others
- **Jul** **[Pay by Shopping (deal united)](https://millionrounds.com/company/pay-by-shopping-deal-united)** Series B · DE · finsmes.com **Undisclosed** With 5 others
- **Jun** **[NonWoTecc Medical](https://millionrounds.com/company/nonwotecc-medical)** Series B · DE · finsmes.com **$10M** With 2 others
- **Jun** **[SIRION BIOTECH](https://millionrounds.com/company/sirion-biotech)** DE · finsmes.com **Undisclosed** With 3 others
- **Jun** **[yourdelivery](https://millionrounds.com/company/yourdelivery)** Series B **$5.7M** With 3 others
- **Jun** **[Intelligent Apps (mytaxi)](https://millionrounds.com/company/intelligent-apps-mytaxi)** Series A · DE · siliconallee.com **Undisclosed** With 1 other
- **May** **[tolingo](https://millionrounds.com/company/tolingo)** Series B · DE · finsmes.com **Undisclosed** With 2 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.

## The team

We hold **5** people 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.

Funds they back

## 1 fund commitment on record

- **Managers:** 1

Every fund on record that it has committed money to, and the managers who invest it. Source: fund news.

Managers it backs most

- [Oyster Bay 1 fund](https://millionrounds.com/fund/oyster-bay)

Most recent commitments

- [Oyster Bay Fund II](https://millionrounds.com/fund/oyster-bay)

## Exits from the portfolio

Companies it backed that were later bought or listed **10 in all**

**[SuppreMol](https://millionrounds.com/company/suppremol)** Bought by Baxter International **Undisclosed** Mar 2015

**[Phenex Pharmaceuticals](https://millionrounds.com/company/phenex-pharmaceuticals)** Bought by [Gilead Sciences](https://millionrounds.com/fund/gilead-sciences) **$470M** Jan 2015

**[Intelligent Apps (mytaxi)](https://millionrounds.com/company/intelligent-apps-mytaxi)** Bought by moovel GmbH **Undisclosed** Sept 2014

**[apprupt](https://millionrounds.com/company/apprupt)** Bought by Opera Mediaworks **Undisclosed** Apr 2014

**[Novaled](https://millionrounds.com/company/novaled)** Bought by [Samsung Electronics](https://millionrounds.com/fund/samsung-electronics) **$347M** Aug 2013

**[Zitra.com](https://millionrounds.com/company/zitra-com)** Bought by Keenon **Undisclosed** Jun 2013

**[Art of Defence](https://millionrounds.com/company/art-of-defence)** Bought by Zeus **Undisclosed** Jun 2011

**[Ubitexx](https://millionrounds.com/company/ubitexx)** Bought by [BlackBerry](https://millionrounds.com/fund/cylance) **Undisclosed** May 2011

**[KINAXO Biotechnologies](https://millionrounds.com/company/kinaxo-biotechnologies)** Bought by [Evotec](https://millionrounds.com/fund/evotec) **Undisclosed** Apr 2011

**[Sloning BioTechnology](https://millionrounds.com/company/sloning-biotechnology)** Bought by [MorphoSys](https://millionrounds.com/fund/morphosys) **Undisclosed** Oct 2010

An exit counts when it came after the firm's first round in the company. From historical deal records.

## The cheque

Seed Series A Series B

Median round joined **$13M** the round, not its cheque Alone, median **$50M**

Led 0 of 88 rounds **0%**

- **Said size:** From $10M
- **Sole investor:** 4 rounds
- **Last cheque:** Jan 2026
- **Exits:** 10 from the portfolio

Rounds by stage said on their site

- Series B said *25*
- Series A said *23*
- Venture *15*
- Series C *10*
- Seed said *4*
- Growth said *-*

Cheques by month Led Joined

Nov 2023 Oct 2026

Often in the room with

- [High-Tech Gründerfonds](https://millionrounds.com/fund/high-tech-grunderfonds) 16
- [Bayern Kapital](https://millionrounds.com/fund/bayern-kapital) 10
- [Creathor Ventures](https://millionrounds.com/fund/creathor-ventures) 8
- [High-Tech Gruenderfonds](https://millionrounds.com/fund/high-tech-gruenderfonds) 8
- [Deutsche Telekom Strategic Investments](https://millionrounds.com/fund/deutsche-telekom-strategic-investments-2) 5
- [EnjoyVenture](https://millionrounds.com/fund/enjoyventure) 5

**Pitching KfW?** Put them on your fundraising board with this record on the card, and follow them to hear when they write a new cheque.

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## Who they invest alongside

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

[**High-Tech Gründerfonds** VC firm **16** rounds together](https://millionrounds.com/fund/high-tech-grunderfonds)[**Bayern Kapital** Government **10** rounds together](https://millionrounds.com/fund/bayern-kapital)[**Creathor Ventures** VC firm **8** rounds together](https://millionrounds.com/fund/creathor-ventures)[**High-Tech Gruenderfonds** VC firm **8** rounds together](https://millionrounds.com/fund/high-tech-gruenderfonds)[**Deutsche Telekom Strategic Investments** Investment firm **5** rounds together](https://millionrounds.com/fund/deutsche-telekom-strategic-investments-2)[**EnjoyVenture** VC firm **5** rounds together](https://millionrounds.com/fund/enjoyventure)[**nrw.bank** VC firm **5** rounds together](https://millionrounds.com/fund/nrw-bank)[**Mountain Partners** VC firm **4** rounds together](https://millionrounds.com/fund/mountain-partners)[**Neuhaus Partners** VC firm **4** rounds together](https://millionrounds.com/fund/neuhaus-partners-gmbh)[**BayBG** VC firm **3** rounds together](https://millionrounds.com/fund/baybg)[**HTGF High-Tech Gründerfonds** VC firm **3** rounds together](https://millionrounds.com/fund/high-tech-grunderfonds-htgf)[**IBB Beteiligungsgesellschaft** Investment firm **3** rounds together](https://millionrounds.com/fund/ibb-beteiligungsgesellschaft)

## Quick answers about KfW

### What does KfW invest in?

KfW invests most often at Series B and Series A (62% of the rounds on record), in sectors such as Fin-tech, Finance and Wealthtech.

### How active is KfW?

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

### What has KfW invested in recently?

Its most recent investments on record: REGMIFA, S.A. (Undisclosed round, Jan 2026) and GNA Biosolutions (Series C, Aug 2019).

### How big are KfW's cheques?

The median round it joins is $13M.

### Does KfW lead rounds?

Rarely, if at all: none of its 88 investments on record names it as the lead.

### Where does KfW invest?

Most of the companies it backs are in Germany (89%).

### Is KfW investing now?

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

### Who does KfW invest alongside?

Most often High-Tech Gründerfonds (16 rounds together), Bayern Kapital (10 rounds together) and Creathor Ventures (8 rounds together).

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