69 The 2024 Venture Capital (VC) market is still in rough waters. Several macroeconomic and geostrategic factors, e.g., armed conflicts, ongoing global supply chain bottlenecks, high energy costs, high interest rates and inflation as well as the collapse of banks (e.g., SVB, Credit Suisse), have enticed a nervous funding sentiment and led to increasing capital markets volatility. The closing of VC funds has become more challenging and VCs turn to areas like the Middle East to access alternative funding sources. According to the EY Start-up Monitor 2024, in Germany alone, the VC deal volume fell by around 39 percent in 2023 (compared to the previous year and 65 percent compared to the record year 2021). Nonetheless there also increasing signs of a turnaround at the beginning of 2024, also with respect to Securing external financing from business angels and VC investors – Tips and tricks for your financing round Dr. Niclas von Woedtke | Partner, MBA (Kellogg/ WHU) Hamburg Germany Philipp Bergjans | Associate, Hamburg Germany
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