Start-ups are emerging, non-conventional enterprises that enter established markets with radically different products, displace incumbents, create new markets, and promote economic growth through innovation. Start-ups are often faced with many challenges that may threaten their survival, which can often be overcome by securing steady financial support. Start-ups are high-risk enterprises that are unattractive to conventional financiers, but absolutely suited to private equity (PE) and venture capital (VC) investors who seek rewards and are therefore willing to accept risk. The success stories of global digital platform start-ups have attracted PE investors in particular. When investing in a digital platform start-up in Germany, what criteria do PE and VC investors look for? How should entrepreneurs prepare for VC funding? What strategies should they use? The authors examine these questions in this book and provide a comprehensive analysis of the German start-up, digital platform, PE, and VC ecosystems. The book exposes entrepreneurs, investors, mergers and acquisitions experts, regulators and policy-makers to the market's workings and pain points so that they can help create a German start-up ecosystem that is as functional as the other organized industries.


This book explores how decentralized finance (DeFi) can disrupt traditional centralized finance including the business areas of insurance companies, banks, money markets, and bonds. DeFi is not a company or a single product, rather it is a collection of products or services. As part of the Ethereum ecosystem, DeFi services are provided as Decentralized Applications (dApps), which require smart contracts to lock in assets for processing transactions. Changing consumer expectations, the availability of affordable technologies, and entrepreneurial drive create space for DeFi. Geopolitical crises and trust deterioration exacerbate the need. This book explains the concept of DeFi, the technological opportunities, the current reality and status quo of business transactions, and demonstrates the potential for future use and the eventual transformation of the financial industry. It further provides a comprehensive analysis of the real-world applications of DeFi, the Decentralized Ledger Technology (DLT), and digital assets, as well as their potential risks to consumers and financial institutions to bankers, managers, investors, and policymakers.