Embodiments of the present invention describe a voltage converter and a method for operating the voltage converter. In one embodiment the voltage converter includes a primary path configured to generate a pulse modulated voltage or current from an input direct current (DC) voltage, a transformer arrangement with m≧1 primary windings and n≧2 secondary windings inductively coupled together, the m primary windings being connected to the primary path, and a secondary path configured to output a pulsed direct current (DC) voltage or current, wherein the secondary path includes n capacitors connected in series and n secondary controllable semiconductor switches, and each of the n secondary windings is connected via at least one of the secondary controllable semiconductor switches to at least one of the capacitors.