Seed funding for tech start-ups is under pressure as venture capital struggles to survive the recession. In a session on financing entrepreneurship, Axel Polack, General Partner at TVM Capital, warned the European Entrepreneurship Summit in Brussels that in Europe “we are losing investors into venture capital left and right. There is a dramatically shrinking VC industry.”
In Germany, Polack warned, without super angels “it would be really really grim”. Super angels come in at a later stage in the development of a business and back more mature companies with larger amounts, he explained.
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