In 2005 the Germany government launched the High-Tech Gründerfonds ( HTGF ) to ifnance the young technology companies on attractive terms. The HTGF took modes of public-private partnerships and equity investment to settle the difficulty of financing for young companies. Gründerfonds II started in October 2011 with a second close of 302 millions Euros in December 2012, and ifnanced over 200 high-tech startup companies. The HTGF focuses on investing on in early stage companies in life science, materials science and information technology. It played a key role in the development of the seed capital of Germany, and its review on investment projects is rational and transparent. This paper provides a comprehensive review on the management mechanisms, main achievements and problems of the HTGF, which is worthwhile to be shared by the Chinese counterparts.%2005年，德国政府在《高技术战略》框架下推出了支持高科技企业创业的高科技创业基金，以“公私合营”模式和“股权投资”方式弥补高科技企业创建的融资不足问题。2011年11月，高科技创业基金实施进入第二期，基金净值上升到3.02亿欧元，共支持了200多家高技术企业创业。该基金重点资助信息科学、生物技术等七大领域，遴选审查过程合理透明，在引领德国国内种子资金市场发展方面发挥了关键作用。调研中也发现，德国高科技创业基金申请标准和资助条款仍有待完善，培训机构的培训质量有待提高。通过对德国高科技创业基金的管理制度、实施效果及存在的问题进行介绍，以期对我国有所借鉴。
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