On August 31, 2021, our co-organizers eCAPITAL ENTREPRENEURIAL PARTNERS, Warth & Klein Grant Thornton and we welcomed Dr. Jörg Kukies, a high-profile guest from Berlin, to our monthly VC regulars’ table in Düsseldorf. The State Secretary at the Federal Ministry of Finance answered all questions from moderator Paul-Josef Patt, Managing Partner eCAPITAL, on the topic of future funds. Thank you very much for this exciting Q&A session, which was followed online by over 50 participants!
Dr. Jörg Kukies not only described how the German Future Fund is structured and what its objectives are, but also provided interesting insights into topics such as:
- How is the Future Fund financed and who really benefits from it?
- How does it relate to the EUR 2 billion package of measures for start-ups in anticipation of the actual Future Fund?
- What mechanisms are used to bring the money from the EUR 10 billion Future Fund to start-ups and VCs?
He also emphasized how important it is to convince German insurers, pension funds and other institutional investors to invest more in VC. Dr. Jörg Kukies also noted that, in his opinion, the concept of venture debt is still neglected in Germany, in contrast to other nations.
Dr. Jörg Kukies then answered the participants’ questions and explained, among other things, why the success story of the Danish model for the Future Fund cannot simply be imitated and to what extent this is related to the German institutional investor landscape. Dr. Jörg Kukies also addressed the fact that the German government has recently supported the German VC ecosystem in anticipation of the Future Fund, in particular through the EUR 2 billion package of measures for start-ups, and that the first commitments from the Future Fund are now seamlessly following on from this. As part of the Q&A, he also commented on whether there are already plans for a “Future Fund 2.0”.
Dr. Jörg Kukies concluded the event with a brief summary of the measures implemented so far to improve the VC culture in Germany and explained the areas in which he sees even greater potential.
You can find more information on the Future Fund here on the website of the Federal Ministry of Finance.
If you were unable to attend the VC regulars’ table, you can register online at this link to watch the Q&A session.
