NRW.BANK

Focus

STAGES

Pre-SeedSeedSeries ASeries BGrowthBuyout

SECTORS

Software & SaaSArtificial IntelligenceBiotech & Life SciencesHealthTechClimate & EnergyDeep TechIndustrial & Manufacturing

ASSET MIX

Direct investmentsVenture capitalFunds (as LP)

GEOGRAPHY

Germany

Investment arms & vehicles

• NRW.Venture
  NRW.BANK's venture capital fund: minority stakes of up to €15m over several rounds in NRW start-ups, alongside private investors
• NRW.Venture EU Tech&Scale
  Fund launched February 2026 under InvestEU allowing total commitments of up to €30m in NRW scale-ups
• NRW.SeedCap
  Seed co-investment programme
• Gründerfonds Ruhr
  Ruhr-region seed fund whose managing director and Prokurist come from the NRW.BANK venture team

Overview

NRW.BANK is the development bank of North Rhine-Westphalia, a public-law institution owned 100% by the Land NRW, with seats in Düsseldorf and Münster. Besides promotional loans it provides mezzanine and equity financing across the company life cycle, from pre-seed to growth, succession and restructuring, and invests in VC and PE funds. Through its venture capital fund NRW.Venture it takes minority stakes of up to €15m over several rounds in NRW start-ups alongside private investors; in February 2026 it launched NRW.Venture EU Tech&Scale, which allows up to €30m per scale-up as an InvestEU implementing partner. At 31 December 2024 its equity division held 62 companies and 72 funds.

Investment thesis

Minority equity stakes, over three to seven years, in innovative, often technology-oriented NRW start-ups that have closed a seed, business-angel or first VC round, co-investing with private investors; focus areas ICT/AI/enterprise software/IT security and life sciences/cleantech; fund investments to develop the VC and PE market in NRW.

PORTFOLIO (63)

• 4TEEN4 Pharmaceuticals
  Biotech & Life Sciences
• Abalos Therapeutics
  Biotech & Life Sciences
• Black Semiconductor
  Deep Tech
• clockin
  Software & SaaS · since 2025
• Cryotherapeutics
  HealthTech
• Cylib
  Climate & Energy
• Dimate
• Disco Pharmaceuticals
  Biotech & Life Sciences
• eeden
  Climate & Energy · since 2025
• Gemesys
  Deep Tech
• iDEL Therapeutics
  Biotech & Life Sciences · since 2026
• Lidrotec
  Industrial & Manufacturing · since 2025
• Nuclidium
  Biotech & Life Sciences
• OMMM
  Artificial Intelligence
• Prothea Technologies
  HealthTech
• Refoxy
• Valuedesk
  Software & SaaS
• VMRay
  Software & SaaS
• Vytal Global
  Climate & Energy · since 2025
• Masterplan
  Software & SaaS · Exited
• JUPUS GmbH
  Artificial Intelligence · since 2026
• eleQtron GmbH
  Deep Tech · since 2026
• Co-reactive
  Climate & Energy · since 2026
• ag-tech.systems GmbH
  Food & Agriculture · since 2026
• Saperatec
  Climate & Energy
• Innolume
  Deep Tech
• Enerthing
  Climate & Energy
• ubirch
  Software & SaaS
• Direvo Industrial Biotechnology
  Biotech & Life Sciences
• Novihum Technologies
  Climate & Energy
• GreenPocket
  Software & SaaS
• Resolve BioSciences
  Biotech & Life Sciences
• Deutsche Arzt AG
  HealthTech
• Personal MedSystems
  HealthTech
• Cellink
  Biotech & Life Sciences
• octonomy
  Artificial Intelligence
• Enlyze
  Software & SaaS
• Hemovent
  HealthTech
• Femtos
• Occlutech
  HealthTech
• Bomedus
  HealthTech
• CEVEC Pharmaceuticals
  Biotech & Life Sciences
• AyoxxA Biosystems
  Biotech & Life Sciences
• Algiax Pharmaceuticals
  Biotech & Life Sciences
• aifora
  Software & SaaS
• Compeon
  Software & SaaS
• Rigontec
  Biotech & Life Sciences · Exited
• Scienion
  Biotech & Life Sciences · Exited
• evoxx technologies
  Biotech & Life Sciences · Exited
• O-flexx Technologies
  Climate & Energy · Exited
• CellAct Pharma
  Biotech & Life Sciences · Exited
• Neo New Oncology
  Biotech & Life Sciences · Exited
• Protagen
  Biotech & Life Sciences · Exited
• amber
  Artificial Intelligence · since 2026
• Talpasolutions GmbH
  Software & SaaS
• VTI Ventiltechnik GmbH
  Industrial & Manufacturing
• Schoellershammer GmbH
  Industrial & Manufacturing
• Phenox GmbH
  HealthTech · Exited
• Emergence Therapeutics AG
  Biotech & Life Sciences · Exited
• Frontastic GmbH
  Software & SaaS · Exited
• Holobuilder Inc.
  Software & SaaS · Exited
• Butlers GmbH & Co. KG
  Consumer & E-commerce · Exited
• d.velop AG
  Software & SaaS · Exited

People

• Gabriela Pantring
  Chair of the Managing Board (Vorsitzende des Vorstands) · source
• Dr. Peter Stemper
  Deputy Chair of the Managing Board · source
• Claudia Hillenherms
  Member of the Managing Board · source
• Johanna Antonie Tjaden-Schulte
  Member of the Managing Board · source
• Dr. Claas Heise
  Head of Venture Capital and fund investments (NRW.Venture) · source
• Dr. Thomas Raueiser
  Head of Life Sciences & Cleantech team; Prokurist, Gründerfonds Ruhr · source
• Thorsten Reuter
  Head of Digital Economy & Technology team; Managing Director, Gründerfonds Ruhr · source
• Thorsten Heldt
  Senior Investment Manager, Digital Economy & Technology (deputy team head) · source
• Dr. Marek Kozlowski
  Senior Investment Director, Life Science & Cleantech · source
• Massi Ali Ahmadi
  Investment Manager, Digital Economy & Technology · source
• Dr. Maria Bräutigam
  Investment Manager, Life Science & Cleantech · source
• Maximilian Erb
  Investment team, Life Sciences & Cleantech · source
• Tim Gudelj
  Investment team, Digitalisation & Technology · source
• Philipp Leidig
  Investment team, Life Sciences & Cleantech · source
• Dr. Vera Mehler-de Graaff
  Investment team, Life Science & Cleantech · source
• Patrick Nesseler
  Investment Manager, Digital Economy & Technology · source
• Dr. Antonia Nörthemann
  Investment Manager, Digital Economy & Technology · source
• Florian Stinauer
  Investment team, Life Sciences & Cleantech · source
• Jonas Vonnahme
  Investment team, Life Science & Cleantech · source

Links

• Website
• Official contact page
• LinkedIn

Frequently asked questions