The implementation of the "future fund" for start-ups is progressing.
The federal government and the development bank KfW announced on Monday that the venture capital pot VTGF is going into the second round, with a volume of 1.2 billion euros by 2030. The money should enable joint financing of start-ups with private investors.
Above all, fast-growing and technology-oriented companies should be able to receive financial injections of one million to 125 million euros.
The money is part of the future fund, with which the federal government wants to push start-up companies with a total of 10 billion euros by 2030.
The Frankfurt KfW is responsible for the implementation.
The first building blocks were launched last year.
With the VTGF 2.0, 8.2 billion euros are already available that can be invested up to 2030.
Further components of the future fund are still being worked out.
KfW's first VTGF program in 2019 led to financing of 360 million euros with private investors in eleven cases.
"So that the transformation of economy and society succeeds"
According to KfW, the young companies should have a resilient and promising business model.
Typical projects included investments to scale business models or the implementation of growth-enhancing measures including working capital financing.
"As KfW, we want to make an effective contribution to ensuring that the transformation of the economy and society is successful," said Stefan Wintels, CEO of KfW.
A central element is the further development of the funding offer in the area of innovation and the strengthening of the financing ecosystem for fast-growing technology companies.
At the same time, Wintels named the increased acquisition of private capital as an essential prerequisite for the success of the transformation.