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Exitstrategien bei Business-Angel-Finanzierungen

Exitstrategien bei Business-Angel-Finanzierungen


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About the Book

Inhaltsangabe: Einleitung: Der deutsche Markt für formelles Beteiligungskapital konnte in den vergangenen zwanzig Jahren ein starkes Wachstum verzeichnen. Dabei vergrößerte sich das Marktvolumen insbesondere in der zweiten Hälfte der 90er Jahre enorm. So stiegen allein bei den Mitgliedern der BVK (Bundesverband Deutscher Kapitalbeteiligungsgesellschaften) die Bruttoinvestitionen der jährlich neu eingegangenen Beteiligungen im Zeitraum von 1996 bis 2000 von 1,2 Mrd. DM auf 8,7 Mrd. DM an. Dieser rasante Anstieg führte dazu, dass die BVK-Mitglieder am Ende des Jahres 2001 mehr als 5.600 Portfoliofirmen aufweisen konnten. Aus gesamtwirtschaftlicher Sicht ist diese Entwicklung äußerst positiv zu bewerten, was darin begründet ist, dass durch die Finanzierung wachstumsstarker Unternehmen das Innovationspotential gesteigert wird und neue Arbeitsplätze geschaffen werden. Trotz dieser Entwicklung gibt es weiterhin eine große Anzahl von Unternehmen, die einen hohen Kapitalbedarf aufweisen. Dabei handelt es sich überwiegend um junge Firmen, die über ein großes Wachstumspotential verfügen. Diese Unternehmen befinden sich zu einem Großteil in der sogenannten EK-Lücke, da der Kapitalbedarf einerseits die finanziellen Mittel des Gründers übersteigt und andererseits nicht groß genug ist, um klassische VC-Geber als Investoren zu gewinnen, da diese in der Regel vornehmlich in spätere Entwicklungsstadien investieren. Darüber hinaus erhalten die Unternehmen in der Regel auch keine Kreditfinanzierung, was daran liegt, dass Banken oft nicht bereit sind, derartig riskante Vorhaben zu finanzieren. Neben öffentlichen Förderprogrammen kann diese Finanzierungslücke insbesondere durch informelle Beteiligungskapitalgeber, sogenannten Business Angels, geschlossen werden. Wenngleich der deutsche Markt für informelles Beteiligungskapital in den letzten Jahren zunehmend an Bedeutung gewonnen hat, befindet er sich immer noch in einer frühen Entwicklungsphase. So gibt es in Deutschland schätzung


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Product Details
  • ISBN-13: 9783838679303
  • Publisher: Diplom.de
  • Binding: Paperback
  • Language: German
  • Returnable: N
  • Spine Width: 4 mm
  • Width: 148 mm
  • ISBN-10: 383867930X
  • Publisher Date: 25 Apr 2004
  • Height: 210 mm
  • No of Pages: 72
  • Series Title: German
  • Weight: 154 gr


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