Hot Isostatic Pressing (HIP) is a well-established process for production and post treatment of highly loaded components. It can be applied to a wide range of materials, including non-castable alloys. A particular process to produce near net shape components is the consolidation of capsules filled with metal powder (PM-HIP). However, the manual fabrication of capsules by welding sheet metal limits the design of parts to very basic geometries. By combining Additive Manufacturing (AM) for the fabrication of capsules and conventional powder HIP, the design freedom is enhanced. If additively produced capsule and powder subsequently filled into the capsule are chosen as different materials, composite components can be realized. Finite Element simulations (FEM) were applied in the capsule design process to achieve net-shape components with the desired geometry after full consolidation. The investigation includes a highly wear-resistant cold work tool steel (AISI A11, X240VCrMo10-5-1) as capsule material, processed through Electron Beam Melting (EBM) as well as a hot work tool steel (AISI L6, 55NiCrMoV7) for the powder filling. The analysis of prototype components includes microstructural analyses, hardness measurements, and validation of the numerical simulations.