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Laxman Pai, Opalesque Asia: The venture capital (VC) fund of funds, Wachstumsfonds Deutschland (Growth Fund Germany), has achieved its target volume of EUR 1 billion ($1.09bn).
Wachstumsfonds Deutschland is one of the largest VC funds of funds established in Europe and is primarily funded through private resources. This fund forms a vital part of the German Federal Government's Future Fund, designed to enhance the venture capital ecosystem in Europe and Germany.
Besides the Federal Government and KfW Capital as anchor investors, the fund has more than 20 major institutional investors including insurers, superannuation funds, foundations, asset managers and large family offices such as Allianz, BlackRock, Debeka, Generali Deutschland AG, Gothaer Versicherung, HUK-Coburg, the RAG-Stiftung, SIGNAL IDUNA, Stuttgarter Lebensversicherung a.G., Tecta, and Wurttembergische Lebensversicherung AG.
Together with other investors, the Wachstumsfonds invests in German and international VC funds with a focus on Europe and Germany. This will significantly improve access to urgently needed growth capital for start-ups and innovative technology firms while strengthening Europe and Germany as an innovation location.
KfW Capital acts as both an investment intermediary and an investment advisor for the Wachstumsfonds Deutschland. The fund will be managed by the fund service platform Universal Investment Group.
Dr Robert Habeck, Federal Minister for Economic Affairs and Clim...................... To view our full article Click here
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