TLDR:
The financial sector plans to invest around twelve billion euros by 2030 to support start-ups. The initiative aims to improve structures and provide more venture capital for young companies. Representatives from banks, insurance companies, and the German government have agreed on this goal. Major players like Allianz, Deutsche Bank, and Commerzbank are already on board.
Summary:
The financial sector, including banks, insurance companies, and asset managers, has committed to investing twelve billion euros by 2030 to provide greater support for start-ups. This initiative was announced in a joint declaration of intent published by the German government. The goal is to improve structures and make more venture capital available for young companies. The state development bank KfW is organizing the initiative, and major companies like Allianz, Deutsche Bank, and Commerzbank have already pledged their support. The initiative aims to strengthen funds of funds, simplify conditions for IPOs, and make it easier to sell shares in venture capital funds. The ultimate goal is to close the capital gap between Germany and other countries like the USA and France. Federal Chancellor Olaf Scholz and Finance Minister Christian Lindner have both expressed optimism about the initiative’s potential impact on newly founded companies and the economy as a whole.
Key Points:
- The financial sector plans to invest twelve billion euros by 2030 in support of start-ups.
- Initiative aims to improve structures and provide more venture capital for young companies.
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