Investor Relations for Start-ups

Investors are one of the most important stakeholders for startups, as they provide support in many ways that are crucial for the growth of young companies.

The aim of this research project is to gain insights into the design and development of the relationship between startups and investors and thus to understand the institutionalization of investor relations.

This question was answered with the help of a systematic literature analysis and two qualitative surveys with 34 investor relations managers of German startups in different growth phases as well as 15 investors (venture capitalists, corporate venture capitalists and business angels) who are invested in German startups.

The results show an ongoing professionalization of the investor relations function across startup growth, with much of the evolution based on adaptation to environmental influences. The requirements of the investors, but also internal factors such as the financing phases or the previous professional experience of the founders, have an influence.

The presentation of the project at the DIRK conference 2023 can be found here

The research project was carried out in cooperation with FTI Consulting.

The project team, under the academic direction of Prof. Christian Hoffmann and Lea Knabben, consisted of ten students from the Leipzig Master’s program in Communication Management: Amelie Baryal, Sophia Blau, Julia Burghaus, Paula Christoph, Sophie Dietrich, Felix Gasteyer, Pauline Johe, Torben Krüper, Kathleen Lehmann and Sarah Willer.