Wagniskapital

Wagniskapital, commonly known as venture capital, describes equity financing provided by specialized investment firms or funds to young, high-growth companies with substantial market potential but significant risk. Venture capitalists invest capital in exchange for an equity stake and typically take a seat on the board or observer rights, seeking to influence strategy and governance. They aim to help the company scale and to realize a return through an exit such as an initial public offering, a sale to a strategic buyer, or a secondary sale to another investor.

Funding usually occurs in rounds, including seed, early stage, and expansion rounds. Each round involves due diligence, negotiation of terms (such as liquidation preferences, anti-dilution provisions, and governance rights), and post-investment support, including strategic guidance, recruiting, and access to networks.

Investors include venture capital funds, corporate venture arms, and sometimes government-backed funds. Wagniskapital is generally riskier and less liquid than debt financing and requires a high expected return to compensate for a high rate of startup failure. The investment horizon typically spans five to ten years.

Compared with bank loans or grants, venture capital provides not only capital but active value creation and governance. It differs from angel investing through larger checks and more formal processes and from private equity by targeting earlier-stage, high-growth companies.