Germany considers Tech Growth Fund

The German government is working with KfW on a Tech Growth Fund that would provide several billion euros in venture debt.

Germany’s Federal Ministry for Economic Affairs and Federal Ministry of Finance are collaborating with state-owned economic development bank KfW to launch a new fund, according to Handelsblatt.

The news was revealed by Matthias Machnig, secretary of state at the Ministry for Economic Affairs and Energy, and Jens Spahn, secretary of state at the Ministry of Finance in a guest comment for the newspaper.

Dubbed Tech Growth Fund, the vehicle would provide venture debt to growth-stage businesses. Although the size of the fund has not been disclosed yet, the two secretaries of state hope it will leverage billions of euros (€1 = $1.1bn).

Machnig and Spahn did not reveal additional details.

See more from this Government Report: Germany

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