Global law firm Clifford Chance advised KfW Capital and Universal Investment on the successful fundraising of the “Wachstumsfonds Deutschland” (“Growth Fund Germany”) which exceeded its target volume of €1 billion. The successful closing marks a significant milestone for the German Federal Government’s Future Fund.
The “Wachstumsfonds Deutschland” is one of the largest venture capital (VC) fund of funds ever launched in Europe, primarily funded by private capital. Alongside the Federal Government and KfW Capital as anchor investors, over 20 institutional investors, including insurance companies, foundations, asset managers, and large family offices have participated.
The Fund, with KfW Capital acting as both investor and advisor, will invest in German and international VC funds, focusing on Europe and Germany. Its investments will significantly improve access to much-needed growth capital for start-ups and innovative technology companies, strengthening Europe and Germany as innovation hubs.
The Clifford Chance team was led by partner Sonya Pauls (Funds corporate, Munich) and comprised partners Jan Grabbe and Andrius Bielinis (both Tax, Frankfurt), Gregor Evenkamp (Regulatory, Munich), senior counsel Alexandra Uhl (regulatory, Frankfurt), who were supported by transaction lawyer Alina Hochberger (Funds Corporate, Munich), and many other national and international Clifford Chance colleagues.
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