DEG – Deutsche Investitions- und Entwicklungsgesellschaft
Subsidiary of the German federal development bank KfW since 2001 KfW Bankengruppe
Also known as DEG, DEG Invest, Deutsche Investitions- und Entwicklungsgesellschaft mbH, DEG - Deutsche Investitions- und Entwicklungsgesellschaft mbH
Cologne-based KfW development-finance subsidiary financing private companies, banks and PE/debt funds in emerging markets with loans, equity and fund commitments; €2.4bn own-funds commitments in 2025.
- HEADQUARTERS
- Köln, Germany
- FOUNDED
- —
- AUM
- —
- OUTSIDE CAPITAL
- Yes
- TEAM LISTED
- 3 people
Focus
- STAGES
- GrowthBuyout
- ASSET MIX
- Direct investmentsPrivate equityFunds (as LP)Private creditImpact
- GEOGRAPHY
- AfricaAsia-PacificLatin AmericaMiddle East
Investment arms & vehicles
- DEG subsidiary that advises professional investors on building return-oriented, impact-oriented portfolios in developing and emerging markets
- DEG subsidiary offering advisory and promotional (grant-funded) support for the social and ecological transformation of companies and funds in developing and emerging markets
Overview
DEG – Deutsche Investitions- und Entwicklungsgesellschaft mbH has financed private companies and financial service providers in developing and emerging markets for more than 60 years and has been a subsidiary of KfW since 2001. It lends long-term and takes equity stakes directly, invests in local banks and financial service providers, and anchors private equity and debt funds; it has made more than 130 fund investments and over 100 co-investments in emerging-market funds. In 2025 its total business volume was about €2.9bn, of which about €2.4bn came from DEG's own funds, with the rest mobilised from private, institutional and public investors. About 730 staff work in Cologne and 17 other locations.
Investment thesis
Private-sector development in developing and emerging markets (OECD DAC list): long-term loans, equity and mezzanine for companies and financial institutions, anchor commitments to emerging-market PE and debt funds, with a strong climate and impact focus.
PORTFOLIO (88)
- Clara Holdings Limited (Supraregional)since 2026
- Tecnocontrol Vehicular S.A. de C.V. (Mexico)since 2026
- Frogfoot & Vox (South Africa)since 2026
- Navegar III L.P. (Philippines)since 2026
- Adenia Entrepreneurial Fund (I) LP (Supraregional)since 2026
- Parkville Pharmaceuticals Egypt Limited (Egypt)since 2026
- SPE PEF III, L.P. (Supraregional)since 2026
- NEW TIME INVESTIMENTOS E PARTICIPACOES S.A. (Brazil)since 2025
- E2VC Fund III C.V. (Supraregional)since 2025
- Vinci Lacan Fund IV LP, Canada (Brazil)since 2025
- Lendable MSME FinTech Credit Fund II SCSp, SICAV-RAIF (Supraregional)since 2025
- The Reforestation Fund I LP (Supraregional)since 2025
- African Development Partners IV, L.P. (Supraregional)since 2025
- Combio Energia S.A. (Brazil)since 2025
- Endiya Partners Fund III (India)since 2025
- Taaleem Management Services S.A.E. (Egypt)since 2025
- Somerset Indus Healthcare India Fund III (India)since 2025
- Klar Technologies, S.A. de C.V., S.F.P. (Mexico)since 2025
- Tiga Beruang Kalifornia Pte. Ltd. (Indonesia)since 2025
- Canary IV, L.P. (Supraregional)since 2025
- PI Fund V (Ontario), L.P. (Supraregional)since 2025
- Mediterra Capital Partners III, LP (Turkey)since 2024
- Revo Capital Fund III C.V. (Supraregional)since 2024
- Amethis Fund III S.C.A., SICAV-RAIF (Supraregional)since 2024
- Neon Payments Ltd. (Brazil)since 2024
- Mediterrania Capital IV Mid-Cap (Supraregional)since 2024
- GreenYellow (Supraregional)since 2024
- Naked Financial Technology Pty Ltd (South Africa)since 2024
- Jungle Ventures V L.P. (Supraregional)since 2024
- Amicus Capital Partners India Fund II (India)since 2024
- Creador VI L.P. (Supraregional)since 2024
- BDO Network Bank, Inc. (Philippines)since 2024
- Wi-Net Telecom S.A.C. (Peru)since 2024
- Ascent Growth Trust V (India)since 2024
- Fourth Partner Energy Private Limited (India)since 2024
- Nature Based Carbon Fund (Supraregional)since 2024
- Rymel Ingenieria Electrica S.A.S (Colombia)since 2024
- Monkey Servicos de Tecnologia LTDA. (Brazil)since 2024
- Actis Asia Climate Transition SCSp (Supraregional)since 2024
- DALI Discount AG (Philippines)since 2024
- DIC Latin American Fund IV, L.P./Canada (Supraregional)since 2024
- Turnkey Lender Pte. Ltd. (Supraregional)since 2024
- The Courier Guy (South Africa)since 2024
- Wavemaker Pacific 5, L.P. (Supraregional)since 2023
- Latin American Green Bond Fund S.A. SICAV-SIF (Supraregional)since 2023
- Phi Capital Growth Fund 1.6 (India)since 2023
- African Infrastructure Investment Fund 4 (Supraregional)since 2023
- QUADRIA Capital Fund III L.P. (Supraregional)since 2023
- Adenia Capital (V) LP (Supraregional)since 2023
- Ashmore Andean Fund III, L.P. / Canada (Supraregional)since 2023
- Digital East Fund III, SCSp (Supraregional)since 2023
- AVLA Bermuda Holding Corp Ltd. (Supraregional)since 2023
- Vinci Capital Partners IV A, LP / Canada (Brazil)since 2023
- Apis Growth Fund III SCSp (Supraregional)since 2023
- Osmanthus II Cayman Investment, L.P. (Philippines)since 2023
- MAA General Assurance Philippines Incorporated (Philippines)since 2023
- A.P. Møller Capital – Emerging Markets Infrastructure Fund II (Supraregional)since 2023
- L Catterton Latin America IV-B, L.P (Supraregional)since 2023
- Openspace Ventures IV, L.P. (Supraregional)since 2023
- Metier Capital Growth Fund III (Supraregional)since 2023
- LC Healthcare SEA Fund I, L.P. (Indonesia)since 2023
- TIDE Africa II LP (Supraregional)since 2023
- Growtheum Capital Partners SEA Fund 1 LP (Supraregional)since 2023
- Avataar Venture Partners II (India)since 2023
- NXTP III, L.P. (Supraregional)since 2023
- NxtWave Disruptive Technologies Pvt. Ltd (India)since 2023
- Laprophan (Morocco)since 2023
- PT Etana Biotechnologies Indonesia (Indonesia)since 2023
- WheelsEMI Private Limited (India)since 2022
- Partech Africa II S.L.P. (Supraregional)since 2022
- Lula Lend Pty Ltd (South Africa)since 2022
- Alterrra Africa Accelerator Fund LP, Mauritus (Supraregional)since 2022
- Thai Credit Retail Bank (Thailand)since 2022
- Gia Lai Electricity Joint Stock Company (Vietnam)since 2022
- Vertex Ventures (SG) SEA V LP (Supraregional)since 2022
- Exacta Asia Investment III LP (Supraregional)since 2022
- Alcazar Energy Partners II (Supraregional)since 2022
- Solevo Holding B.V. (Supraregional)since 2022
- Horizon Capital Growth Fund IV (HCGF IV) (Ukraine)since 2022
- Adenia Capital V (Supraregional)since 2022
- Kelix bio Ltd (Supraregional)since 2022
- Riverwood Capital Partners Latam II L.P. (Supraregional)since 2022
- Ipak Yuli (Uzbekistan)since 2022
- OrbiMed Asia Partners V, L.P. (Supraregional)since 2022
- Asia Partners II L.P. (Supraregional)since 2022
- Massive Bio Inc. (Turkey)since 2022
- VI (Vietnam Investments) Fund IV L.P. (Vietnam)since 2021
- ASEAN Frontier Markets Fund, L.P. (“AFMF”), (Supraregional)since 2021
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Frequently asked questions
DEG – Deutsche Investitions- und Entwicklungsgesellschaft is a government-backed fund based in Köln, Germany.
Yes. DEG – Deutsche Investitions- und Entwicklungsgesellschaft invests its own capital in private companies. It also commits capital to third-party funds as an LP.
DEG – Deutsche Investitions- und Entwicklungsgesellschaft invests at Growth and Buyout stages in Fintech, Climate & Energy, Industrial & Manufacturing, HealthTech and Food & Agriculture.
DEG – Deutsche Investitions- und Entwicklungsgesellschaft's stated ticket size is From $10M.
Key people at DEG – Deutsche Investitions- und Entwicklungsgesellschaft include Roland Siller (Chair of the Management Board), Monika Beck (Member of the Management Board) and Joachim Schumacher (Member of the Management Board).
DEG – Deutsche Investitions- und Entwicklungsgesellschaft's investments include Clara Holdings Limited (Supraregional), Tecnocontrol Vehicular S.A. de C.V. (Mexico), Frogfoot & Vox (South Africa), Navegar III L.P. (Philippines), Adenia Entrepreneurial Fund (I) LP (Supraregional), Parkville Pharmaceuticals Egypt Limited (Egypt), SPE PEF III, L.P. (Supraregional) and NEW TIME INVESTIMENTOS E PARTICIPACOES S.A. (Brazil), among others.
The most recent publicly reported investment by DEG – Deutsche Investitions- und Entwicklungsgesellschaft is Clara Holdings Limited (Equity, USD 10M), announced in Sep 2026.
Yes. DEG – Deutsche Investitions- und Entwicklungsgesellschaft manages capital from outside investors.