The head of the state-owned development bank KfW, Stefan Wintels, has proposed closer links between the Mittelstand and venture capital as a potential formula for growth.
KfW aims to mobilize more private investment for the transformation of the German economy. Wintels said in an interview with Handelsblatt that while other countries have better ecosystems for venture capital, none has a Mittelstand like Germany’s.
“This combination can be the Germany formula for growth and competitiveness,” the KfW chief stated. The remarks were published on 15 July 2026 in Frankfurt.
The bank’s funding policy is set to align more closely with this approach going forward.
