Affordable Access

Smart capital in German start-ups: an empirical analysis

Universität Jena und Max-Planck-Institut für Ökonomik Jena
Publication Date
  • G21
  • G24
  • D21
  • M13
  • O16
  • Smart Capital
  • Start-Up Financing
  • Venture Capital
  • Banks
  • Risikokapital
  • Private Equity
  • Unternehmensberatung
  • Unternehmensgründung
  • Deutschland


It is still an open question what kind of smart capital relational investors actually supply. We divide smart capital into several components and conduct a survey among 85 German suppliers of start-up finance. The results show that the degree of “smartness” is determined by the financial product used and also by the financiers’ institutional background, the duration of the investment and the stage of development of the firm being financed.

There are no comments yet on this publication. Be the first to share your thoughts.