From PitchBook, November 8:
Germany preps $23B in fresh funds to boost VC ecosystem
The German government plans to dedicate billions of euros to encourage venture investments in the country.
Speaking at SuperVenture 2021 in Berlin, Thomas Jarzombek, the German commissioner for the digital industry and startups, detailed several initiatives—worth a total of €20 billion (about $23 billion)—that Germany is undertaking to create better conditions for startups and VC funds to thrive.
Among the measures is a new fund-of-funds to back European VCs, on the condition that they partly invest in Germany. The vehicle, which is still being prepared, will be managed by KfW Capital, a subsidiary of state-owned KfW Bank, and will include both private and public money. The aim is to encourage more German institutional investors to be active in venture capital by reducing risk....
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