KfW Venture Capital Dashboard Q1 2025

The quarterly KfW Venture Capital Dashboard presents the developments in the venture capital market in Germany.

The German VC market started the new year on a strong footing but without providing a clear direction for the further course of the year. In total, German start-ups raised around EUR 1.6 billion in 295 financing rounds in the first quarter of 2025. The deal volume thus grew moderately on the preceding quarter Q4 2024 (+14% QoQ) but remained below the quarterly average of the previous year.

In addition, the VC Dashboard provides deeper insights into VC finance activities for German start-ups, including by financing phase, investor origin, technological fields and exit activity. It also compares the market with major international benchmarks. The overview is rounded off by a look at the development of venture debt transactions.

KfW Venture Capital Dashboard Q1 2025(PDF, 3 MB, accessible)

Press release