News from 2026-02-10 / KfW Research
German Venture Capital Barometer 4th Quarter 2025
Venture capital sentiment collapsed in the final quarter of 2025
Sentiment in the German venture capital (VC) market dropped significantly in the final quarter of 2025. The sentiment indicator dropped sharply to -32.4 points. The indicator for the current business situation fell by 25.9 points to -37.5 points, while the indicator for expectations plunged by 38.9 points to -27.4 points. Thus, investor sentiment at the end of the year 2025 was only slightly above the five-year low at the end of 2022 following the rapid interest rate reversal to combat inflation. Compared with the almost steady sentiment recovery seen in the years 2022 to 2024, the levels of mood fluctuated wildly in 2025.
German Venture Capital Barometer 4th Quarter 2025
Further information on Venture Capital
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