{"id":5342,"date":"2026-06-15T13:39:41","date_gmt":"2026-06-15T11:39:41","guid":{"rendered":"https:\/\/www.gxglegal.com\/private-equity-venture-capital\/"},"modified":"2026-08-29T16:53:22","modified_gmt":"2026-08-29T14:53:22","slug":"private-equity-venture-capital","status":"publish","type":"page","link":"https:\/\/www.gxglegal.com\/en\/private-equity-venture-capital\/","title":{"rendered":"Private Equity &#038; Venture Capital"},"content":{"rendered":"<div class=\"et_pb_section_0 et_pb_section et_section_regular et_flex_section\">\n<div class=\"et_pb_row_0 et_pb_row et_flex_row\">\n<div class=\"et_pb_column_0 et_pb_column et-last-child et_flex_column et_pb_css_mix_blend_mode_passthrough et_flex_column_24_24 et_flex_column_24_24_tablet et_flex_column_24_24_phone\">\n<section class=\"et_pb_fullwidth_header_0 et_pb_fullwidth_header et_pb_bg_layout_dark et_pb_text_align_left et_pb_module et_flex_module\"><div class=\"et_pb_fullwidth_header_container left\"><div class=\"header-content-container center\"><div class=\"header-content et_flex_module\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/www.gxglegal.com\/wp-content\/uploads\/2026\/06\/Bildschirmfoto-2026-06-27-um-15.44.05.png\" width=\"482\" height=\"602\" srcset=\"https:\/\/www.gxglegal.com\/wp-content\/uploads\/2026\/06\/Bildschirmfoto-2026-06-27-um-15.44.05.png 482w, https:\/\/www.gxglegal.com\/wp-content\/uploads\/2026\/06\/Bildschirmfoto-2026-06-27-um-15.44.05-480x600.png 480w\" sizes=\"(min-width: 0px) and (max-width: 480px) 480px, (min-width: 481px) 482px, 100vw\" class=\"header-logo wp-image-3092\" title=\"Bildschirmfoto 2026-06-27 um 15.44.05\" \/><h1 class=\"et_pb_module_header\">Private Equity & VC.<\/h1><div class=\"et_pb_header_content_wrapper\"><p>Equity transactions for investors, funds, and founders \u2014 from the initial financing round to the exit.<\/p>\n<\/div><div class=\"et_pb_header_button_wrapper\"><a class=\"et_pb_button et_pb_more_button et_pb_button_one\" href=\"#dealcta\">Discuss deal<\/a><a class=\"et_pb_button et_pb_more_button et_pb_button_two\" href=\"#leistungsspektrum\">Service Spectrum<\/a><\/div><\/div><\/div><\/div><div class=\"et_pb_fullwidth_header_overlay\"><\/div><div class=\"et_pb_fullwidth_header_scroll\"><\/div><\/section>\n<\/div>\n<\/div>\n<\/div>\n\n<div class=\"et_pb_section_1 et_pb_section et_section_regular et_flex_section\">\n<div class=\"et_pb_row_1 et_pb_row et_flex_row\">\n<div class=\"et_pb_column_1 et_pb_column et_flex_column et_pb_css_mix_blend_mode_passthrough et_flex_column_8_24 et_flex_column_8_24_tablet et_flex_column_24_24_phone\">\n<div class=\"et_pb_text_0 et_pb_text et_pb_bg_layout_light et_pb_module et_flex_module\"><div class=\"et_pb_text_inner\"><p>Classification<\/p>\n<\/div><\/div>\n<\/div>\n\n<div class=\"et_pb_column_2 et_pb_column et-last-child et_flex_column et_pb_css_mix_blend_mode_passthrough et_flex_column_16_24 et_flex_column_16_24_tablet et_flex_column_24_24_phone\">\n<div class=\"et_pb_text_1 et_pb_text et_pb_bg_layout_light et_pb_module et_flex_module\"><div class=\"et_pb_text_inner\"><h2>Capital meets <em>structure<\/em>.<\/h2>\n<p>Equity transactions thrive on pace, contractual discipline, and a clear view of dilution, liquidation preferences, and exit mechanics.<\/p>\n<p>We advise private equity and venture capital investors, family offices, portfolio companies, and founders \u2014 across all phases of the investment cycle.<\/p>\n<\/div><\/div>\n<\/div>\n<\/div>\n<\/div>\n\n<div class=\"et_pb_section_2 et_pb_section et_section_regular et_flex_section\" id=\"leistungsspektrum\">\n<div class=\"et_pb_row_2 et_pb_row et_flex_row\">\n<div class=\"et_pb_column_3 et_pb_column et_flex_column et_pb_css_mix_blend_mode_passthrough et_flex_column_8_24 et_flex_column_8_24_tablet et_flex_column_24_24_phone\">\n<div class=\"et_pb_text_2 et_pb_text et_pb_bg_layout_light et_pb_module et_flex_module\"><div class=\"et_pb_text_inner\"><p>Service Spectrum<\/p>\n<\/div><\/div>\n<\/div>\n\n<div class=\"et_pb_column_4 et_pb_column et-last-child et_flex_column et_pb_css_mix_blend_mode_passthrough et_flex_column_16_24 et_flex_column_16_24_tablet et_flex_column_24_24_phone\">\n<div class=\"et_pb_text_3 et_pb_text et_pb_bg_layout_light et_pb_module et_flex_module\"><div class=\"et_pb_text_inner\"><h2>What we <em>handle<\/em> for you.<\/h2>\n<\/div><\/div>\n<\/div>\n<\/div>\n\n<div class=\"et_pb_row_3 et_pb_row et_flex_row\">\n<div class=\"et_pb_column_5 et_pb_column et_flex_column et_pb_css_mix_blend_mode_passthrough et_flex_column_8_24 et_flex_column_8_24_tablet et_flex_column_24_24_phone eck-rahmen\">\n<div class=\"et_pb_text_4 et_pb_text et_pb_bg_layout_light et_pb_module et_flex_module\"><div class=\"et_pb_text_inner\"><p><em><span class=\"leistungen-nbr\">01<\/span><\/em><\/p>\n<h4>Fund Structuring<\/h4>\n<p>Fund and SPV structures, LPA, side letters, carry structures.<\/p>\n<\/div><\/div>\n<\/div>\n\n<div class=\"et_pb_column_6 et_pb_column et_flex_column et_pb_css_mix_blend_mode_passthrough et_flex_column_8_24 et_flex_column_8_24_tablet et_flex_column_24_24_phone eck-rahmen\">\n<div class=\"et_pb_text_5 et_pb_text et_pb_bg_layout_light et_pb_module et_flex_module\"><div class=\"et_pb_text_inner\"><p><em><span class=\"leistungen-nbr\">02<\/span><\/em><\/p>\n<h4>Buy-Out & Growth<\/h4>\n<p>LBO, MBO, MBI, add-on acquisitions, co-investments.<\/p>\n<\/div><\/div>\n<\/div>\n\n<div class=\"et_pb_column_7 et_pb_column et_flex_column et_pb_css_mix_blend_mode_passthrough et_flex_column_8_24 et_flex_column_8_24_tablet et_flex_column_24_24_phone eck-rahmen\">\n<div class=\"et_pb_text_6 et_pb_text et_pb_bg_layout_light et_pb_module et_flex_module\"><div class=\"et_pb_text_inner\"><p><em><span class=\"leistungen-nbr\">03<\/span><\/em><\/p>\n<h4>Venture Capital<\/h4>\n<p>Seed to Series C+, term sheets, convertible loans, SAFE structures.<\/p>\n<\/div><\/div>\n<\/div>\n\n<div class=\"et_pb_column_8 et_pb_column et_flex_column et_pb_css_mix_blend_mode_passthrough et_flex_column_8_24 et_flex_column_8_24_tablet et_flex_column_24_24_phone eck-rahmen\">\n<div class=\"et_pb_text_7 et_pb_text et_pb_bg_layout_light et_pb_module et_flex_module\"><div class=\"et_pb_text_inner\"><p><em><span class=\"leistungen-nbr\">04<\/span><\/em><\/p>\n<h4>Management Incentives<\/h4>\n<p>MEP, VSOP, ESOP, vesting, good\/bad leaver provisions.<\/p>\n<\/div><\/div>\n<\/div>\n\n<div class=\"et_pb_column_9 et_pb_column et_flex_column et_pb_css_mix_blend_mode_passthrough et_flex_column_8_24 et_flex_column_8_24_tablet et_flex_column_24_24_phone eck-rahmen\">\n<div class=\"et_pb_text_8 et_pb_text et_pb_bg_layout_light et_pb_module et_flex_module\"><div class=\"et_pb_text_inner\"><p><em><span class=\"leistungen-nbr\">05<\/span><\/em><\/p>\n<h4>Portfolio Advisory<\/h4>\n<p>Ongoing advisory for holdings \u2014 from governance to add-ons.<\/p>\n<\/div><\/div>\n<\/div>\n\n<div class=\"et_pb_column_10 et_pb_column et-last-child et_flex_column et_pb_css_mix_blend_mode_passthrough et_flex_column_8_24 et_flex_column_8_24_tablet et_flex_column_24_24_phone eck-rahmen\">\n<div class=\"et_pb_text_9 et_pb_text et_pb_bg_layout_light et_pb_module et_flex_module\"><div class=\"et_pb_text_inner\"><p><em><span class=\"leistungen-nbr\">06<\/span><\/em><\/p>\n<h4>Exit<\/h4>\n<p>Trade sale, secondary, IPO preparation, drag-along, W&I insurance.<\/p>\n<\/div><\/div>\n<\/div>\n<\/div>\n<\/div>\n\n<div class=\"et_pb_section_3 et_pb_section et_section_regular et_flex_section\">\n<div class=\"et_pb_row_4 et_pb_row et_flex_row\">\n<div class=\"et_pb_column_11 et_pb_column et_flex_column et_pb_css_mix_blend_mode_passthrough et_flex_column_2_5 et_flex_column_2_5_tablet et_flex_column_24_24_phone\">\n<div class=\"et_pb_text_10 et_pb_text et_pb_bg_layout_light et_pb_module et_flex_module\"><div class=\"et_pb_text_inner\"><p>Who we work for<\/p>\n<\/div><\/div>\n\n<div class=\"et_pb_text_11 et_pb_text et_pb_bg_layout_light et_pb_module et_flex_module\"><div class=\"et_pb_text_inner\"><h2>Clients seeking <em>clarity<\/em>.<\/h2>\n<\/div><\/div>\n\n<ul class=\"et_pb_icon_list_0 et_pb_icon_list et_pb_module et_flex_module\">\n<li class=\"et_pb_icon_list_item_0 et_pb_icon_list_item et_pb_module et_flex_module\"><span class=\"et-pb-icon\">K<\/span><div class=\"et_pb_icon_list_text\">Private equity funds<\/div><\/li>\n\n<li class=\"et_pb_icon_list_item_1 et_pb_icon_list_item et_pb_module et_flex_module\"><span class=\"et-pb-icon\">K<\/span><div class=\"et_pb_icon_list_text\">Venture capital investors and business angels<\/div><\/li>\n\n<li class=\"et_pb_icon_list_item_2 et_pb_icon_list_item et_pb_module et_flex_module\"><span class=\"et-pb-icon\">K<\/span><div class=\"et_pb_icon_list_text\">family offices<\/div><\/li>\n\n<li class=\"et_pb_icon_list_item_3 et_pb_icon_list_item et_pb_module et_flex_module\"><span class=\"et-pb-icon\">K<\/span><div class=\"et_pb_icon_list_text\">Consortia<\/div><\/li>\n\n<li class=\"et_pb_icon_list_item_4 et_pb_icon_list_item et_pb_module et_flex_module\"><span class=\"et-pb-icon\">K<\/span><div class=\"et_pb_icon_list_text\">Founders <\/div><\/li>\n\n<li class=\"et_pb_icon_list_item_5 et_pb_icon_list_item et_pb_module et_flex_module\"><span class=\"et-pb-icon\">K<\/span><div class=\"et_pb_icon_list_text\">Growth companies<\/div><\/li>\n<\/ul>\n<\/div>\n\n<div class=\"et_pb_column_12 et_pb_column et-last-child et_flex_column et_pb_css_mix_blend_mode_passthrough et_flex_column_3_5 et_flex_column_3_5_tablet et_flex_column_24_24_phone\">\n<div class=\"et_pb_text_12 et_pb_text et_pb_bg_layout_light et_pb_module et_flex_module\"><div class=\"et_pb_text_inner\"><p>Our Approach<\/p>\n<\/div><\/div>\n\n<div class=\"et_pb_text_13 et_pb_text et_pb_bg_layout_light et_pb_module et_flex_module\"><div class=\"et_pb_text_inner\"><h2>How we <em>work.<\/em><\/h2>\n<\/div><\/div>\n\n<div class=\"et_pb_code_0 et_pb_code et_pb_module\"><div class=\"et_pb_code_inner\"><section class=\"values-section\">\n        <div class=\"values-grid\">\n            \n            <div class=\"value-card\">\n                <h3 class=\"value-title\">Investor-oriented<\/h3>\n                <p class=\"value-text\">We understand how investors make decisions and align our advice consistently with their economic goals.<\/p>\n            <\/div>\n\n            <div class=\"value-card\">\n                <h3 class=\"value-title\">Entrepreneurial<\/h3>\n                <p class=\"value-text\">We do not think in terms of clauses, but in terms of growth, financing, and value development.\n<\/p>\n            <\/div>\n\n            <div class=\"value-card\">\n                <h3 class=\"value-title\">Fast<\/h3>\n                <p class=\"value-text\">In venture capital and private equity, speed often determines the success of a transaction. We deliver clear decisions without unnecessary friction. <\/p>\n            <\/div>\n\n            <div class=\"value-card\">\n                <h3 class=\"value-title\">International<\/h3>\n                <p class=\"value-text\">Capital knows no borders. We support international investors and cross-border investment structures. <\/p>\n            <\/div>\n\n        <\/div>\n    <\/section><\/div><\/div>\n<\/div>\n<\/div>\n<\/div>\n\n<div class=\"et_pb_section_4 et_pb_section et_section_regular et_flex_section\">\n<div class=\"et_pb_row_5 et_pb_row et_flex_row\">\n<div class=\"et_pb_column_13 et_pb_column et-last-child et_flex_column et_pb_css_mix_blend_mode_passthrough et_flex_column_24_24 et_flex_column_24_24_tablet et_flex_column_24_24_phone\">\n<div class=\"et_pb_text_14 et_pb_text et_pb_bg_layout_light et_pb_module et_flex_module\"><div class=\"et_pb_text_inner\"><p><span>Process<\/span><\/p>\n<\/div><\/div>\n\n<div class=\"et_pb_text_15 et_pb_text et_pb_bg_layout_light et_pb_module et_flex_module\"><div class=\"et_pb_text_inner\"><p>From the first conversation to the <em>closing.<\/em><\/p>\n<\/div><\/div>\n\n<div class=\"et_pb_divider_0 et_pb_divider et_pb_space et_pb_divider_position_top et_pb_module\"><div class=\"et_pb_divider_internal\"><\/div><\/div>\n<\/div>\n<\/div>\n\n<div class=\"et_pb_row_6 et_pb_row et_flex_row\">\n<div class=\"et_pb_column_14 et_pb_column et_flex_column et_pb_css_mix_blend_mode_passthrough et_flex_column_1_5 et_flex_column_12_24_tablet et_flex_column_24_24_phone\">\n<div class=\"et_pb_text_16 et_pb_text et_pb_bg_layout_light et_pb_module et_flex_module\"><div class=\"et_pb_text_inner\"><p><em>I<\/em><\/p>\n<\/div><\/div>\n\n<div class=\"et_pb_text_17 et_pb_text et_pb_bg_layout_light et_pb_module et_flex_module\"><div class=\"et_pb_text_inner\"><p>Term Sheet<\/p>\n<\/div><\/div>\n\n<div class=\"et_pb_text_18 et_pb_text et_pb_bg_layout_light et_pb_module et_flex_module\"><div class=\"et_pb_text_inner\"><p>Valuation, structure, key points.<\/p>\n<\/div><\/div>\n<\/div>\n\n<div class=\"et_pb_column_15 et_pb_column et_flex_column et_pb_css_mix_blend_mode_passthrough et_flex_column_1_5 et_flex_column_12_24_tablet et_flex_column_24_24_phone\">\n<div class=\"et_pb_text_19 et_pb_text et_pb_bg_layout_light et_pb_module et_flex_module\"><div class=\"et_pb_text_inner\"><p><em>II<\/em><\/p>\n<\/div><\/div>\n\n<div class=\"et_pb_text_20 et_pb_text et_pb_bg_layout_light et_pb_module et_flex_module\"><div class=\"et_pb_text_inner\"><p>Due Diligence<\/p>\n<\/div><\/div>\n\n<div class=\"et_pb_text_21 et_pb_text et_pb_bg_layout_light et_pb_module et_flex_module\"><div class=\"et_pb_text_inner\"><p>Legal, tax, tech, commercial.<\/p>\n<\/div><\/div>\n<\/div>\n\n<div class=\"et_pb_column_16 et_pb_column et_flex_column et_pb_css_mix_blend_mode_passthrough et_flex_column_1_5 et_flex_column_12_24_tablet et_flex_column_24_24_phone\">\n<div class=\"et_pb_text_22 et_pb_text et_pb_bg_layout_light et_pb_module et_flex_module\"><div class=\"et_pb_text_inner\"><p><em>III<\/em><\/p>\n<\/div><\/div>\n\n<div class=\"et_pb_text_23 et_pb_text et_pb_bg_layout_light et_pb_module et_flex_module\"><div class=\"et_pb_text_inner\"><p>Negotiation<\/p>\n<\/div><\/div>\n\n<div class=\"et_pb_text_24 et_pb_text et_pb_bg_layout_light et_pb_module et_flex_module\"><div class=\"et_pb_text_inner\"><p>SPA \/ SHA, investment agreements.<\/p>\n<\/div><\/div>\n<\/div>\n\n<div class=\"et_pb_column_17 et_pb_column et_flex_column et_pb_css_mix_blend_mode_passthrough et_flex_column_1_5 et_flex_column_12_24_tablet et_flex_column_24_24_phone\">\n<div class=\"et_pb_text_25 et_pb_text et_pb_bg_layout_light et_pb_module et_flex_module\"><div class=\"et_pb_text_inner\"><p><em>IV<\/em><\/p>\n<\/div><\/div>\n\n<div class=\"et_pb_text_26 et_pb_text et_pb_bg_layout_light et_pb_module et_flex_module\"><div class=\"et_pb_text_inner\"><p>Closing<\/p>\n<\/div><\/div>\n\n<div class=\"et_pb_text_27 et_pb_text et_pb_bg_layout_light et_pb_module et_flex_module\"><div class=\"et_pb_text_inner\"><p>Conditions, fund flow, registration.<\/p>\n<\/div><\/div>\n<\/div>\n\n<div class=\"et_pb_column_18 et_pb_column et-last-child et_flex_column et_pb_css_mix_blend_mode_passthrough et_flex_column_1_5 et_flex_column_12_24_tablet et_flex_column_24_24_phone\">\n<div class=\"et_pb_text_28 et_pb_text et_pb_bg_layout_light et_pb_module et_flex_module\"><div class=\"et_pb_text_inner\"><p><em>V<\/em><\/p>\n<\/div><\/div>\n\n<div class=\"et_pb_text_29 et_pb_text et_pb_bg_layout_light et_pb_module et_flex_module\"><div class=\"et_pb_text_inner\"><p>Portfolio<\/p>\n<\/div><\/div>\n\n<div class=\"et_pb_text_30 et_pb_text et_pb_bg_layout_light et_pb_module et_flex_module\"><div class=\"et_pb_text_inner\"><p>Governance, reporting, follow-on rounds.<\/p>\n<\/div><\/div>\n<\/div>\n<\/div>\n<\/div>\n\n<div class=\"et_pb_section_5 et_pb_section et_section_regular et_flex_section\" id=\"leistungsspektrum\">\n<div class=\"et_pb_row_7 et_pb_row et_flex_row\">\n<div class=\"et_pb_column_19 et_pb_column et_flex_column et_pb_css_mix_blend_mode_passthrough et_flex_column_8_24 et_flex_column_8_24_tablet et_flex_column_24_24_phone\">\n<div class=\"et_pb_text_31 et_pb_text et_pb_bg_layout_light et_pb_module et_flex_module\"><div class=\"et_pb_text_inner\"><p>Insights<\/p>\n<\/div><\/div>\n<\/div>\n\n<div class=\"et_pb_column_20 et_pb_column et-last-child et_flex_column et_pb_css_mix_blend_mode_passthrough et_flex_column_16_24 et_flex_column_16_24_tablet et_flex_column_24_24_phone\">\n<div class=\"et_pb_text_32 et_pb_text et_pb_bg_layout_light et_pb_module et_flex_module\"><div class=\"et_pb_text_inner\"><h2>Clarity in a <em>few minutes<\/em>.<\/h2>\n<p>Equity transactions for investors, funds, and founders, from the financing round to the exit.<\/p>\n<\/div><\/div>\n<\/div>\n<\/div>\n\n<div class=\"et_pb_row_8 et_pb_row et_grid_row\">\n<div class=\"et_pb_column_21 et_pb_column et_flex_column et_pb_css_mix_blend_mode_passthrough\">\n<div class=\"et_pb_image_0 et_pb_image et_pb_module et_flex_module\" data-interaction-trigger=\"v0hbdsl7ne\"><span class=\"et_pb_image_wrap\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/www.gxglegal.com\/wp-content\/uploads\/2026\/06\/LOI-THUMB-scaled.png\" alt=\"A knocked-over chess piece on a dark background titled LOI\" title=\"LOI THUMB\" width=\"1440\" height=\"2560\" srcset=\"https:\/\/www.gxglegal.com\/wp-content\/uploads\/2026\/06\/LOI-THUMB-scaled.png 1440w, https:\/\/www.gxglegal.com\/wp-content\/uploads\/2026\/06\/LOI-THUMB-1280x2276.png 1280w, https:\/\/www.gxglegal.com\/wp-content\/uploads\/2026\/06\/LOI-THUMB-980x1742.png 980w, https:\/\/www.gxglegal.com\/wp-content\/uploads\/2026\/06\/LOI-THUMB-480x853.png 480w\" sizes=\"(min-width: 0px) and (max-width: 480px) 480px, (min-width: 481px) and (max-width: 980px) 980px, (min-width: 981px) and (max-width: 1280px) 1280px, (min-width: 1281px) 1440px, 100vw\" class=\"wp-image-3644\" \/><\/span><\/div>\n<\/div>\n\n<div class=\"et_pb_column_22 et_pb_column et_flex_column et_pb_css_mix_blend_mode_passthrough\">\n<div class=\"et_pb_image_1 et_pb_image et-interaction-target-zkng5xvi8e et_pb_module et_flex_module\" data-interaction-trigger=\"1wylokd1f1\" data-interaction-target=\"zkng5xvi8e\"><span class=\"et_pb_image_wrap\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/www.gxglegal.com\/wp-content\/uploads\/2026\/06\/SEIL.png\" alt=\"A rope against a red background titled Earn Out A rope to hang onto\" title=\"ROPE\" width=\"1080\" height=\"1920\" srcset=\"https:\/\/www.gxglegal.com\/wp-content\/uploads\/2026\/06\/SEIL.png 1080w, https:\/\/www.gxglegal.com\/wp-content\/uploads\/2026\/06\/SEIL-980x1742.png 980w, https:\/\/www.gxglegal.com\/wp-content\/uploads\/2026\/06\/SEIL-480x853.png 480w\" sizes=\"(min-width: 0px) and (max-width: 480px) 480px, (min-width: 481px) and (max-width: 980px) 980px, (min-width: 981px) 1080px, 100vw\" class=\"wp-image-3646\" \/><\/span><\/div>\n<\/div>\n\n<div class=\"et_pb_column_23 et_pb_column et_flex_column et_pb_css_mix_blend_mode_passthrough\">\n<div class=\"et_pb_image_2 et_pb_image et-interaction-target-zrp0ew1ig3 et_pb_module et_flex_module\" data-interaction-trigger=\"isyqe2xrxz\" data-interaction-target=\"zrp0ew1ig3\"><span class=\"et_pb_image_wrap\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/www.gxglegal.com\/wp-content\/uploads\/2026\/06\/CLOSING-SANDUHR-scaled.png\" alt=\"A blue background with an hourglass titled Closing\" title=\"CLOSING HOURGLASS\" width=\"1430\" height=\"2560\" srcset=\"https:\/\/www.gxglegal.com\/wp-content\/uploads\/2026\/06\/CLOSING-SANDUHR-scaled.png 1430w, https:\/\/www.gxglegal.com\/wp-content\/uploads\/2026\/06\/CLOSING-SANDUHR-1280x2291.png 1280w, https:\/\/www.gxglegal.com\/wp-content\/uploads\/2026\/06\/CLOSING-SANDUHR-980x1754.png 980w, https:\/\/www.gxglegal.com\/wp-content\/uploads\/2026\/06\/CLOSING-SANDUHR-480x859.png 480w\" sizes=\"(min-width: 0px) and (max-width: 480px) 480px, (min-width: 481px) and (max-width: 980px) 980px, (min-width: 981px) and (max-width: 1280px) 1280px, (min-width: 1281px) 1430px, 100vw\" class=\"wp-image-3641\" \/><\/span><\/div>\n<\/div>\n\n<div class=\"et_pb_column_24 et_pb_column et_flex_column et_pb_css_mix_blend_mode_passthrough\">\n<div class=\"et_pb_image_3 et_pb_image et-interaction-target-46pnisdmhb et_pb_module et_flex_module\" data-interaction-trigger=\"syng54snth\" data-interaction-target=\"46pnisdmhb\"><span class=\"et_pb_image_wrap\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/www.gxglegal.com\/wp-content\/uploads\/2026\/06\/EARN-OUT-INVESTOREN-THUMBNAIL.png\" alt=\"A gaming chip on a billiard table with a blurred background, titled Earn-Out with Investors\" title=\"EARN OUT INVESTORS THUMBNAIL\" width=\"1144\" height=\"2048\" srcset=\"https:\/\/www.gxglegal.com\/wp-content\/uploads\/2026\/06\/EARN-OUT-INVESTOREN-THUMBNAIL.png 1144w, https:\/\/www.gxglegal.com\/wp-content\/uploads\/2026\/06\/EARN-OUT-INVESTOREN-THUMBNAIL-980x1754.png 980w, https:\/\/www.gxglegal.com\/wp-content\/uploads\/2026\/06\/EARN-OUT-INVESTOREN-THUMBNAIL-480x859.png 480w\" sizes=\"(min-width: 0px) and (max-width: 480px) 480px, (min-width: 481px) and (max-width: 980px) 980px, (min-width: 981px) 1144px, 100vw\" class=\"wp-image-3643\" \/><\/span><\/div>\n<\/div>\n\n<div class=\"et_pb_column_25 et_pb_column et_flex_column et_pb_css_mix_blend_mode_passthrough\">\n<div class=\"et_pb_image_4 et_pb_image et-interaction-target-4nn0dv92y0 et_pb_module et_flex_module\" data-interaction-trigger=\"r4uvdyy525\" data-interaction-target=\"4nn0dv92y0\"><span class=\"et_pb_image_wrap\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/www.gxglegal.com\/wp-content\/uploads\/2026\/06\/dcf-thumbnail.png\" alt=\"A dark background made of numerous green formulas titled Discounted Cash Flow\" title=\"dcf thumbnail\" width=\"1080\" height=\"1920\" srcset=\"https:\/\/www.gxglegal.com\/wp-content\/uploads\/2026\/06\/dcf-thumbnail.png 1080w, https:\/\/www.gxglegal.com\/wp-content\/uploads\/2026\/06\/dcf-thumbnail-980x1742.png 980w, https:\/\/www.gxglegal.com\/wp-content\/uploads\/2026\/06\/dcf-thumbnail-480x853.png 480w\" sizes=\"(min-width: 0px) and (max-width: 480px) 480px, (min-width: 481px) and (max-width: 980px) 980px, (min-width: 981px) 1080px, 100vw\" class=\"wp-image-3642\" \/><\/span><\/div>\n<\/div>\n\n<div class=\"et_pb_column_26 et_pb_column et_flex_column et_pb_css_mix_blend_mode_passthrough\">\n<div class=\"et_pb_image_5 et_pb_image et-interaction-target-ne4wxmzlcd et_pb_module et_flex_module\" data-interaction-trigger=\"7j1a5ewwb4\" data-interaction-target=\"ne4wxmzlcd\"><span class=\"et_pb_image_wrap\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/www.gxglegal.com\/wp-content\/uploads\/2026\/06\/TERM-SHEET-THUMBNAIL.png\" alt=\"A tennis ball flying towards a person with a racket at the edge of the frame, on a court\" title=\"TERM SHEET THUMBNAIL\" width=\"1080\" height=\"1920\" srcset=\"https:\/\/www.gxglegal.com\/wp-content\/uploads\/2026\/06\/TERM-SHEET-THUMBNAIL.png 1080w, https:\/\/www.gxglegal.com\/wp-content\/uploads\/2026\/06\/TERM-SHEET-THUMBNAIL-980x1742.png 980w, https:\/\/www.gxglegal.com\/wp-content\/uploads\/2026\/06\/TERM-SHEET-THUMBNAIL-480x853.png 480w\" sizes=\"(min-width: 0px) and (max-width: 480px) 480px, (min-width: 481px) and (max-width: 980px) 980px, (min-width: 981px) 1080px, 100vw\" class=\"wp-image-3640\" \/><\/span><\/div>\n<\/div>\n\n\n\n\n\n\n\n\n\n\n\n\n<\/div>\n\n<div class=\"et_pb_row_9 et_pb_row et_flex_row\">\n<div class=\"et_pb_column_33 et_pb_column et-last-child et_flex_column et_pb_css_mix_blend_mode_passthrough et_flex_column_24_24 et_flex_column_24_24_tablet et_flex_column_24_24_phone\">\n<div class=\"et_pb_slider_0 et_pb_slider et_pb_slider_fullwidth_off et_pb_module et_flex_module video-slider-mobile\"><div class=\"et_pb_slides\">\n<div class=\"et_pb_slide_0 et_pb_slide et_pb_slide_with_image et_pb_slide_with_video et_pb_media_alignment_center et_pb_bg_layout_light poster-1\" data-slide-id=\"divi\/slide-0\"><div class=\"et_pb_container\"><div class=\"et_pb_slider_container_inner\"><div class=\"et_pb_slide_video\"><video controls><source type=\"video\/mp4\" src=\"https:\/\/www.gxglegal.com\/wp-content\/uploads\/2026\/06\/REEL-D3-N-S2R2-LOI.mp4\" \/><\/video><\/div><div class=\"et_pb_slide_description et_flex_module\"><h2 class=\"et_pb_slide_title\"><a href=\"https:\/\/www.gxglegal.com\/en\/reel-d3-n-s15r3-exit\/\" target=\"\" class=\"et_pb_slide_title_link\">LOI.<\/a><\/h2><\/div><\/div><\/div><\/div>\n\n<div class=\"et_pb_slide_1 et_pb_slide et_pb_slide_with_image et_pb_slide_with_video et_pb_media_alignment_center et_pb_bg_layout_light poster-2\" data-slide-id=\"divi\/slide-1\"><div class=\"et_pb_container\"><div class=\"et_pb_slider_container_inner\"><div class=\"et_pb_slide_video\"><div style=\"width: 640px;\" class=\"wp-video\"><video class=\"wp-video-shortcode\" id=\"video-5342-1\" width=\"640\" height=\"360\" preload=\"metadata\" controls=\"controls\"><source type=\"video\/mp4\" src=\"https:\/\/www.gxglegal.com\/wp-content\/uploads\/2026\/06\/REEL-D3-N-S15R4-EARN-OUT-1.mp4?_=1\" \/><a href=\"https:\/\/www.gxglegal.com\/wp-content\/uploads\/2026\/06\/REEL-D3-N-S15R4-EARN-OUT-1.mp4\">https:\/\/www.gxglegal.com\/wp-content\/uploads\/2026\/06\/REEL-D3-N-S15R4-EARN-OUT-1.mp4<\/a><\/video><\/div><\/div><div class=\"et_pb_slide_description et_flex_module\"><h2 class=\"et_pb_slide_title\"><a href=\"https:\/\/www.gxglegal.com\/en\/reel-d3-n-s15r3-exit\/\" target=\"\" class=\"et_pb_slide_title_link\">Earn Out.<\/a><\/h2><\/div><\/div><\/div><\/div>\n\n<div class=\"et_pb_slide_2 et_pb_slide et_pb_slide_with_image et_pb_slide_with_video et_pb_media_alignment_center et_pb_bg_layout_light poster-3\" data-slide-id=\"divi\/slide-2\"><div class=\"et_pb_container\"><div class=\"et_pb_slider_container_inner\"><div class=\"et_pb_slide_video\"><video controls><source type=\"video\/mp4\" src=\"https:\/\/www.gxglegal.com\/wp-content\/uploads\/2026\/06\/REEL-D3-N-S2R5-CLOSING.mp4\" \/><\/video><\/div><div class=\"et_pb_slide_description et_flex_module\"><h2 class=\"et_pb_slide_title\"><a href=\"https:\/\/www.gxglegal.com\/en\/reel-d3-n-s15r3-exit\/\" target=\"\" class=\"et_pb_slide_title_link\">Closing.<\/a><\/h2><\/div><\/div><\/div><\/div>\n\n<div class=\"et_pb_slide_3 et_pb_slide et_pb_slide_with_image et_pb_slide_with_video et_pb_media_alignment_center et_pb_bg_layout_light poster-4\" data-slide-id=\"divi\/slide-3\"><div class=\"et_pb_container\"><div class=\"et_pb_slider_container_inner\"><div class=\"et_pb_slide_video\"><video controls><source type=\"video\/mp4\" src=\"https:\/\/www.gxglegal.com\/wp-content\/uploads\/2026\/06\/REEL-D3-N-S7R4-EARN-OUT-INVESTOREN-1.mp4\" \/><\/video><\/div><div class=\"et_pb_slide_description et_flex_module\"><h2 class=\"et_pb_slide_title\"><a href=\"https:\/\/www.gxglegal.com\/en\/reel-d3-n-s15r3-exit\/\" target=\"\" class=\"et_pb_slide_title_link\">Earn Out with Investors.<\/a><\/h2><\/div><\/div><\/div><\/div>\n\n<div class=\"et_pb_slide_4 et_pb_slide et_pb_slide_with_image et_pb_slide_with_video et_pb_media_alignment_center et_pb_bg_layout_light poster-5\" data-slide-id=\"divi\/slide-4\"><div class=\"et_pb_container\"><div class=\"et_pb_slider_container_inner\"><div class=\"et_pb_slide_video\"><video controls><source type=\"video\/mp4\" src=\"https:\/\/www.gxglegal.com\/wp-content\/uploads\/2026\/06\/REEL-D3-N-S5R3-CASHFLOW.mp4\" \/><\/video><\/div><div class=\"et_pb_slide_description et_flex_module\"><h2 class=\"et_pb_slide_title\"><a href=\"https:\/\/www.gxglegal.com\/en\/reel-d3-n-s15r3-exit\/\" target=\"\" class=\"et_pb_slide_title_link\">Cash Flow.<\/a><\/h2><\/div><\/div><\/div><\/div>\n\n<div class=\"et_pb_slide_5 et_pb_slide et_pb_slide_with_image et_pb_slide_with_video et_pb_media_alignment_center et_pb_bg_layout_light poster-6\" data-slide-id=\"divi\/slide-5\"><div class=\"et_pb_container\"><div class=\"et_pb_slider_container_inner\"><div class=\"et_pb_slide_video\"><video controls><source type=\"video\/mp4\" src=\"https:\/\/www.gxglegal.com\/wp-content\/uploads\/2026\/06\/REEL-D3-N-S7R3-TERM-SHEET.mp4\" \/><\/video><\/div><div class=\"et_pb_slide_description et_flex_module\"><h2 class=\"et_pb_slide_title\"><a href=\"https:\/\/www.gxglegal.com\/en\/reel-d3-n-s15r3-exit\/\" target=\"\" class=\"et_pb_slide_title_link\">Term Sheet.<\/a><\/h2><\/div><\/div><\/div><\/div>\n<\/div><\/div>\n\n<div class=\"et_pb_code_1 et_pb_code et_pb_module\"><div class=\"et_pb_code_inner\"><script>document.addEventListener(\"DOMContentLoaded\", function () {\n\n    const posterMap = {\n        \"poster-1\": \"\/wp-content\/uploads\/2026\/06\/LOI-THUMB-scaled.png\",\n        \"poster-2\": \"\/wp-content\/uploads\/2026\/06\/SEIL.png\",\n        \"poster-3\": \"\/wp-content\/uploads\/2026\/06\/CLOSING-SANDUHR-scaled.png\",\n        \"poster-4\": \"\/wp-content\/uploads\/2026\/06\/EARN-OUT-INVESTOREN-THUMBNAIL.png\",\n        \"poster-5\": \"\/wp-content\/uploads\/2026\/06\/dcf-thumbnail.png\",\n       \"poster-6\": \"\/wp-content\/uploads\/2026\/06\/TERM-SHEET-THUMBNAIL.png\",\n    };\n  \n  Object.keys(posterMap).forEach(key => {\n    const video = document.querySelector(`.${key} video`);\n    console.log(video);\n    if(video){\n      video.setAttribute(\"poster\", posterMap[key]);\n    }\n  });\n});\n<\/script><\/div><\/div>\n<\/div>\n<\/div>\n<\/div>\n\n<div class=\"et_pb_section_6 et_pb_section et_section_regular et_flex_section\">\n<div class=\"et_pb_row_10 et_pb_row et_flex_row\">\n<div class=\"et_pb_column_34 et_pb_column et_flex_column et_pb_css_mix_blend_mode_passthrough et_flex_column_2_5 et_flex_column_2_5_tablet et_flex_column_24_24_phone\">\n<div class=\"et_pb_text_33 et_pb_text et_pb_bg_layout_light et_pb_module et_flex_module\"><div class=\"et_pb_text_inner\"><p>FAQ<\/p>\n<\/div><\/div>\n\n<div class=\"et_pb_text_34 et_pb_text et_pb_bg_layout_light et_pb_module et_flex_module\"><div class=\"et_pb_text_inner\"><h2>Frequently Asked <em>Questions<\/em>.<\/h2>\n<\/div><\/div>\n\n<div class=\"et_pb_text_35 et_pb_text et_pb_bg_layout_light et_pb_module et_flex_module\"><div class=\"et_pb_text_inner\"><p>Do you have a specific question? We will respond within 24 hours. <\/p>\n<\/div><\/div>\n<\/div>\n\n<div class=\"et_pb_column_35 et_pb_column et-last-child et_flex_column et_pb_css_mix_blend_mode_passthrough et_flex_column_3_5 et_flex_column_3_5_tablet et_flex_column_24_24_phone\">\n<div class=\"et_pb_toggle_0 et_pb_toggle et_pb_toggle_item et_pb_toggle_close et_pb_module et_flex_module\"><h5 class=\"et_pb_toggle_title\">What is the difference between Venture Capital (VC) and Private Equity (PE)?<\/h5><div class=\"et_pb_toggle_content clearfix et_flex_module\"><p>VC typically invests in early growth phases (start-ups) with high risk and high growth opportunities. PE often invests in more mature companies (mid-market to large cap), frequently with stronger cash flows and a focus on value appreciation through strategy, efficiency, and potentially leverage. <\/p>\n<\/div><\/div>\n\n<div class=\"et_pb_toggle_1 et_pb_toggle et_pb_toggle_item et_pb_toggle_close et_pb_module et_flex_module\"><h5 class=\"et_pb_toggle_title\">What do \"Pre-Seed,\" \"Seed,\" and \"Series A\/B\/C\" mean?<\/h5><div class=\"et_pb_toggle_content clearfix et_flex_module\"><p>These are financing phases: Pre-Seed (idea\/prototype), Seed (product\/market fit), Series A (scalable business model), Series B\/C (strong growth, internationalization, M&A, or profitability).<\/p>\n<\/div><\/div>\n\n<div class=\"et_pb_toggle_2 et_pb_toggle et_pb_toggle_item et_pb_toggle_close et_pb_module et_flex_module\"><h5 class=\"et_pb_toggle_title\">What is a Business Angel?<\/h5><div class=\"et_pb_toggle_content clearfix et_flex_module\"><p>A business angel is usually a high-net-worth individual who invests early (often pre-seed\/seed) and additionally contributes expertise, network, and coaching.<\/p>\n<\/div><\/div>\n\n<div class=\"et_pb_toggle_3 et_pb_toggle et_pb_toggle_item et_pb_toggle_close et_pb_module et_flex_module\"><h5 class=\"et_pb_toggle_title\">What does \"Investment Committee\" (IC) mean?<\/h5><div class=\"et_pb_toggle_content clearfix et_flex_module\"><p>The Investment Committee is the internal decision-making body of a fund that finalizes votes on investments, terms, and exit decisions. \"IC approval\" is often a prerequisite for signing. <\/p>\n<\/div><\/div>\n\n<div class=\"et_pb_toggle_4 et_pb_toggle et_pb_toggle_item et_pb_toggle_close et_pb_module et_flex_module\"><h5 class=\"et_pb_toggle_title\">What is a \"Term Sheet\"?<\/h5><div class=\"et_pb_toggle_content clearfix et_flex_module\"><p>A term sheet is a (usually) non-binding agreement on the key points of financing: valuation, structure, investor rights, liquidation preference, vesting, ESOP, etc. It serves as the blueprint for the subsequent contracts.<\/p>\n<\/div><\/div>\n\n<div class=\"et_pb_toggle_5 et_pb_toggle et_pb_toggle_item et_pb_toggle_close et_pb_module et_flex_module\"><h5 class=\"et_pb_toggle_title\">What is \"Due Diligence\" (DD) in a VC\/PE context?<\/h5><div class=\"et_pb_toggle_content clearfix et_flex_module\"><p>DD is the structured examination of the target (legal, tax, financial, commercial, tech\/IP, HR). The goal is to identify risks and align the deal structure (price, warranties, conditions) accordingly. <\/p>\n<\/div><\/div>\n\n<div class=\"et_pb_toggle_6 et_pb_toggle et_pb_toggle_item et_pb_toggle_close et_pb_module et_flex_module\"><h5 class=\"et_pb_toggle_title\">What does \"Valuation\" mean and how do pre-money and post-money differ?<\/h5><div class=\"et_pb_toggle_content clearfix et_flex_module\"><p>Valuation is the company's appraised value. Pre-money is the valuation before investment; post-money = pre-money + new investment. This determines the investor's percentage share.  <\/p>\n<\/div><\/div>\n\n<div class=\"et_pb_toggle_7 et_pb_toggle et_pb_toggle_item et_pb_toggle_close et_pb_module et_flex_module\"><h5 class=\"et_pb_toggle_title\">What is a \"Cap Table\"?<\/h5><div class=\"et_pb_toggle_content clearfix et_flex_module\"><p>The capitalization table shows who owns how much of the company (founders, investors, ESOP, convertible loans) \u2014 including dilution per round.<\/p>\n<\/div><\/div>\n\n<div class=\"et_pb_toggle_8 et_pb_toggle et_pb_toggle_item et_pb_toggle_close et_pb_module et_flex_module\"><h5 class=\"et_pb_toggle_title\">What does \"Dilution\" mean?<\/h5><div class=\"et_pb_toggle_content clearfix et_flex_module\"><p>Dilution describes the reduction in the percentage shares of existing shareholders due to new shares in a financing round. Dilution can be economically neutral if the company's valuation increases. <\/p>\n<\/div><\/div>\n\n<div class=\"et_pb_toggle_9 et_pb_toggle et_pb_toggle_item et_pb_toggle_close et_pb_module et_flex_module\"><h5 class=\"et_pb_toggle_title\">What is a \"Convertible\" (Convertible Loan \/ SAFE)?<\/h5><div class=\"et_pb_toggle_content clearfix et_flex_module\"><p>A convertible is financing that later converts into shares. Typical mechanisms: valuation cap (upper limit of valuation) and discount (price reduction for the next round). SAFE (Simple Agreement for Future Equity) is a simplified convertible structure.  <\/p>\n<\/div><\/div>\n\n<div class=\"et_pb_toggle_10 et_pb_toggle et_pb_toggle_item et_pb_toggle_close et_pb_module et_flex_module\"><h5 class=\"et_pb_toggle_title\">What does \"Liquidation Preference\" (Liq Pref) mean?<\/h5><div class=\"et_pb_toggle_content clearfix et_flex_module\"><p>The liquidation preference regulates the order and amount in which investors receive money first upon an exit (e.g., 1x non-participating). It influences the distribution of proceeds in a sale or liquidation. <\/p>\n<\/div><\/div>\n\n<div class=\"et_pb_toggle_11 et_pb_toggle et_pb_toggle_item et_pb_toggle_close et_pb_module et_flex_module\"><h5 class=\"et_pb_toggle_title\">What are \"Drag-Along\" and \"Tag-Along\"?<\/h5><div class=\"et_pb_toggle_content clearfix et_flex_module\"><p>Drag-along forces minority shareholders to sell their shares in the event of a sale (deal capability). Tag-along protects minorities by allowing them to sell proportionally when the majority sells. <\/p>\n<\/div><\/div>\n\n<div class=\"et_pb_toggle_12 et_pb_toggle et_pb_toggle_item et_pb_toggle_close et_pb_module et_flex_module\"><h5 class=\"et_pb_toggle_title\">What is \"Vesting\" and why is it important?<\/h5><div class=\"et_pb_toggle_content clearfix et_flex_module\"><p>Vesting means that founder shares are \"earned\" over time (e.g., 4 years with a 1-year cliff). It protects the company if key individuals leave early. <\/p>\n<\/div><\/div>\n\n<div class=\"et_pb_toggle_13 et_pb_toggle et_pb_toggle_item et_pb_toggle_close et_pb_module et_flex_module\"><h5 class=\"et_pb_toggle_title\">What is an \"ESOP\/VSOP\"?<\/h5><div class=\"et_pb_toggle_content clearfix et_flex_module\"><p>ESOP (Employee Stock Option Plan) gives employees real options\/shares. VSOP is a virtual participation (cash-oriented, often exit-based). Both serve as incentives and for talent retention.  <\/p>\n<\/div><\/div>\n\n<div class=\"et_pb_toggle_14 et_pb_toggle et_pb_toggle_item et_pb_toggle_close et_pb_module et_flex_module\"><h5 class=\"et_pb_toggle_title\">What does \"Governance\" mean in VC\/PE?<\/h5><div class=\"et_pb_toggle_content clearfix et_flex_module\"><p>Governance includes decision-making and control rights: information rights, veto rights (reserved matters), board\/advisory board, reporting, budget approval \u2014 essentially \"who gets to decide what.\"<\/p>\n<\/div><\/div>\n\n<div class=\"et_pb_toggle_15 et_pb_toggle et_pb_toggle_item et_pb_toggle_close et_pb_module et_flex_module\"><h5 class=\"et_pb_toggle_title\">What are \"Reserved Matters\" \/ Veto Rights?<\/h5><div class=\"et_pb_toggle_content clearfix et_flex_module\"><p>These are decisions that management cannot make alone (e.g., new financing, M&A, budget, change of managing directors). This provides investors with protective rights. <\/p>\n<\/div><\/div>\n\n<div class=\"et_pb_toggle_16 et_pb_toggle et_pb_toggle_item et_pb_toggle_close et_pb_module et_flex_module\"><h5 class=\"et_pb_toggle_title\">What does \"Leverage\" mean and why is it typical in Private Equity?<\/h5><div class=\"et_pb_toggle_content clearfix et_flex_module\"><p>Leverage is the use of debt capital to increase returns on equity. In PE deals (e.g., LBO), a portion of the purchase price is often financed through bank\/unitranche financing. <\/p>\n<\/div><\/div>\n\n<div class=\"et_pb_toggle_17 et_pb_toggle et_pb_toggle_item et_pb_toggle_close et_pb_module et_flex_module\"><h5 class=\"et_pb_toggle_title\">What is an \"LBO\" (Leveraged Buyout)?<\/h5><div class=\"et_pb_toggle_content clearfix et_flex_module\"><p>An LBO is a company acquisition in which a significant portion of the purchase price is financed via debt, which is serviced from the target company's cash flows.<\/p>\n<\/div><\/div>\n\n<div class=\"et_pb_toggle_18 et_pb_toggle et_pb_toggle_item et_pb_toggle_close et_pb_module et_flex_module\"><h5 class=\"et_pb_toggle_title\">What is an \"MBO\" (Management Buyout)?<\/h5><div class=\"et_pb_toggle_content clearfix et_flex_module\"><p>A management buyout (MBO) is a company acquisition where the existing management acquires the company (or a part of it) themselves \u2014 often with the support of a private equity investor and\/or debt capital. The goal is often continuity in leadership while restructuring ownership and governance. Typical issues include incentives (equity roll-over), financing (leverage), and conflicts of interest, as management is simultaneously the buyer and the existing leadership level.  <\/p>\n<\/div><\/div>\n\n<div class=\"et_pb_toggle_19 et_pb_toggle et_pb_toggle_item et_pb_toggle_close et_pb_module et_flex_module\"><h5 class=\"et_pb_toggle_title\">What is an MBI (Management Buy-in) and how does it differ from an MBO?<\/h5><div class=\"et_pb_toggle_content clearfix et_flex_module\"><p>Managers typically invest with their own capital and additionally receive virtual or real shares with vesting and leaver provisions.<\/p>\n<\/div><\/div>\n\n<div class=\"et_pb_toggle_20 et_pb_toggle et_pb_toggle_item et_pb_toggle_close et_pb_module et_flex_module\"><h5 class=\"et_pb_toggle_title\">What do \"Covenants\" mean in financing?<\/h5><div class=\"et_pb_toggle_content clearfix et_flex_module\"><p>Covenants are contractual obligations in loan agreements, e.g., financial covenants (leverage ratio, interest cover) or information duties. Breaches can trigger default rights. <\/p>\n<\/div><\/div>\n\n<div class=\"et_pb_toggle_21 et_pb_toggle et_pb_toggle_item et_pb_toggle_close et_pb_module et_flex_module\"><h5 class=\"et_pb_toggle_title\">What is a \"Buy-and-Build\" strategy in a private equity context?<\/h5><div class=\"et_pb_toggle_content clearfix et_flex_module\"><p>A buy-and-build strategy is an approach where an investor first acquires a platform company (\"platform\") in a specific market and then grows targetedly through several add-on acquisitions. The goal is to realize economies of scale by bundling market shares and synergies (e.g., purchasing, sales, IT, administration), increase profitability, and thereby often achieve a higher valuation multiple upon exit than with the individual companies. In implementation, buy-and-build is typically demanding because several transactions must be structured, financed, and integrated in a short time \u2014 including standardized contracts, efficient due diligence, integration issues, as well as antitrust and labor law aspects.  <\/p>\n<\/div><\/div>\n\n<div class=\"et_pb_toggle_22 et_pb_toggle et_pb_toggle_item et_pb_toggle_close et_pb_module et_flex_module\"><h5 class=\"et_pb_toggle_title\">Who are \"LPs\" (Limited Partners) in private equity and VC funds?<\/h5><div class=\"et_pb_toggle_content clearfix et_flex_module\"><p>LPs (Limited Partners) are the capital providers of a fund, i.e., investors who pay money into a private equity or venture capital fund. Typical LPs are pension funds, insurance companies, foundations, family offices, sovereign wealth funds, or high-net-worth individuals. LPs are generally not involved operationally in investment decisions; these are made by the fund manager (often referred to as the GP \u2014 General Partner). In return, LPs receive contractually regulated information and control rights (e.g., reporting, certain approval matters) as well as a share in the fund's earnings according to the fund structure.   <\/p>\n<\/div><\/div>\n\n<div class=\"et_pb_toggle_23 et_pb_toggle et_pb_toggle_item et_pb_toggle_close et_pb_module et_flex_module\"><h5 class=\"et_pb_toggle_title\">What does \"Carried Interest\" (Carry) mean and why is it central to fund structures?<\/h5><div class=\"et_pb_toggle_content clearfix et_flex_module\"><p>Carried interest is the performance-related compensation for fund management (GP\/manager) and means that the manager receives a percentage share of the fund's profit after reaching a defined minimum hurdle (e.g., hurdle rate). Carry is intended to ensure that the interests of LPs and managers are economically aligned: the manager benefits disproportionately if the fund is successful. In practice, carry rules are often designed via mechanisms such as a distribution waterfall, catch-up, and clawback to ensure a fair distribution of profits over the entire life of the fund.  <\/p>\n<\/div><\/div>\n<\/div>\n<\/div>\n<\/div>\n\n<div class=\"et_pb_section_7 et_pb_section et_section_regular et_flex_section\" id=\"dealcta\">\n<div class=\"et_pb_row_11 et_pb_row et_flex_row\">\n<div class=\"et_pb_column_36 et_pb_column et_flex_column et_pb_css_mix_blend_mode_passthrough et_flex_column_12_24 et_flex_column_12_24_tablet et_flex_column_24_24_phone\">\n<div class=\"et_pb_text_36 et_pb_text et_pb_bg_layout_light et_pb_module et_flex_module\"><div class=\"et_pb_text_inner\"><h3>From term sheet <em>to exit<\/em><strong>.<\/strong><\/h3>\n<p>We support your equity transaction with pace, market knowledge, and a focus on results.<\/p>\n<\/div><\/div>\n<\/div>\n\n<div class=\"et_pb_column_37 et_pb_column et-last-child et_flex_column et_pb_css_mix_blend_mode_passthrough et_flex_column_12_24 et_flex_column_12_24_tablet et_flex_column_24_24_phone\">\n<div class=\"et_pb_module et_pb_button_module_wrapper et_pb_button_0_wrapper\"><a class=\"et_pb_button_0 et_pb_button et_pb_bg_layout_light et_pb_module et_flex_module\" href=\"https:\/\/www.gxglegal.com\/kontakt\/\" data-icon=\"$\">Arrange initial consultation<\/a><\/div>\n<\/div>\n<\/div>\n<\/div><div class=\"et_pb_section_8 et_pb_section et_section_regular et_flex_section et-interaction-target-75trgw39rr\" data-interaction-target=\"75trgw39rr\"><div class=\"et_pb_row_12 et_pb_row et_flex_row\"><div class=\"et_pb_column_38 et_pb_column et-last-child et_flex_column et_pb_css_mix_blend_mode_passthrough et_flex_column_24_24 et_flex_column_24_24_tablet et_flex_column_24_24_phone\"><div class=\"et_pb_group_0 et_pb_group et-last-child et_pb_module et_flex_group et_pb_css_mix_blend_mode_passthrough\"><div class=\"et_pb_icon_0 et_pb_icon et_pb_module et_flex_module\" data-interaction-trigger=\"sod4gumsz9\"><span class=\"et_pb_icon_wrap\"><span class=\"et-pb-icon\">Q<\/span><\/span><\/div><div class=\"et_pb_video_6 et_pb_video et_pb_module et_flex_module\"><div class=\"et_pb_video_box\"><video controls><source type=\"video\/mp4\" src=\"https:\/\/www.gxglegal.com\/wp-content\/uploads\/2026\/06\/REEL-D3-N-S2R2-LOI.mp4\" \/><\/video><\/div><div class=\"et_pb_video_overlay\" style=\"background-image:url(https:\/\/www.gxglegal.com\/wp-content\/uploads\/2026\/06\/LOI-THUMB-scaled.png)\"><div class=\"et_pb_video_overlay_hover\"><a class=\"et_pb_video_play\" href=\"#\"><\/a><\/div><\/div><\/div><\/div><\/div><\/div><\/div><div class=\"et_pb_section_9 et_pb_section et_section_regular et_flex_section et-interaction-target-dvchy02ioh\" data-interaction-target=\"dvchy02ioh\"><div class=\"et_pb_row_13 et_pb_row et_flex_row\"><div class=\"et_pb_column_39 et_pb_column et-last-child et_flex_column et_pb_css_mix_blend_mode_passthrough et_flex_column_24_24 et_flex_column_24_24_tablet et_flex_column_24_24_phone\"><div class=\"et_pb_group_1 et_pb_group et-last-child et_pb_module et_flex_group et_pb_css_mix_blend_mode_passthrough\"><div class=\"et_pb_icon_1 et_pb_icon et_pb_module et_flex_module\" data-interaction-trigger=\"sod4gumsz9\"><span class=\"et_pb_icon_wrap\"><span class=\"et-pb-icon\">Q<\/span><\/span><\/div><div class=\"et_pb_video_7 et_pb_video et_pb_module et_flex_module\"><div class=\"et_pb_video_box\"><video controls><source type=\"video\/mp4\" src=\"https:\/\/www.gxglegal.com\/wp-content\/uploads\/2026\/06\/REEL-D3-N-S15R4-EARN-OUT-2.mp4\" \/><\/video><\/div><div class=\"et_pb_video_overlay\" style=\"background-image:url(https:\/\/www.gxglegal.com\/wp-content\/uploads\/2026\/06\/SEIL.png)\"><div class=\"et_pb_video_overlay_hover\"><a class=\"et_pb_video_play\" href=\"#\"><\/a><\/div><\/div><\/div><\/div><\/div><\/div><\/div><div class=\"et_pb_section_10 et_pb_section et_section_regular et_flex_section et-interaction-target-puvtkghs2x\" data-interaction-target=\"puvtkghs2x\"><div class=\"et_pb_row_14 et_pb_row et_flex_row\"><div class=\"et_pb_column_40 et_pb_column et-last-child et_flex_column et_pb_css_mix_blend_mode_passthrough et_flex_column_24_24 et_flex_column_24_24_tablet et_flex_column_24_24_phone\"><div class=\"et_pb_group_2 et_pb_group et-last-child et_pb_module et_flex_group et_pb_css_mix_blend_mode_passthrough\"><div class=\"et_pb_icon_2 et_pb_icon et-interaction-target-llybq323nk et_pb_module et_flex_module\" data-interaction-trigger=\"sod4gumsz9\" data-interaction-target=\"llybq323nk\"><span class=\"et_pb_icon_wrap\"><span class=\"et-pb-icon\">Q<\/span><\/span><\/div><div class=\"et_pb_video_8 et_pb_video et_pb_module et_flex_module\"><div class=\"et_pb_video_box\"><video controls><source type=\"video\/mp4\" src=\"https:\/\/www.gxglegal.com\/wp-content\/uploads\/2026\/06\/REEL-D3-N-S2R5-CLOSING.mp4\" \/><\/video><\/div><div class=\"et_pb_video_overlay\" style=\"background-image:url(https:\/\/www.gxglegal.com\/wp-content\/uploads\/2026\/06\/CLOSING-SANDUHR-scaled.png)\"><div class=\"et_pb_video_overlay_hover\"><a class=\"et_pb_video_play\" href=\"#\"><\/a><\/div><\/div><\/div><\/div><\/div><\/div><\/div><div class=\"et_pb_section_11 et_pb_section et_section_regular et_flex_section et-interaction-target-t4wljqbq6u\" data-interaction-target=\"t4wljqbq6u\"><div class=\"et_pb_row_15 et_pb_row et_flex_row\"><div class=\"et_pb_column_41 et_pb_column et-last-child et_flex_column et_pb_css_mix_blend_mode_passthrough et_flex_column_24_24 et_flex_column_24_24_tablet et_flex_column_24_24_phone\"><div class=\"et_pb_group_3 et_pb_group et-last-child et_pb_module et_flex_group et_pb_css_mix_blend_mode_passthrough\"><div class=\"et_pb_icon_3 et_pb_icon et_pb_module et_flex_module\" data-interaction-trigger=\"sod4gumsz9\"><span class=\"et_pb_icon_wrap\"><span class=\"et-pb-icon\">Q<\/span><\/span><\/div><div class=\"et_pb_video_9 et_pb_video et_pb_module et_flex_module\"><div class=\"et_pb_video_box\"><video controls><source type=\"video\/mp4\" src=\"https:\/\/www.gxglegal.com\/wp-content\/uploads\/2026\/06\/REEL-D3-N-S5R3-CASHFLOW.mp4\" \/><\/video><\/div><div class=\"et_pb_video_overlay\" style=\"background-image:url(https:\/\/www.gxglegal.com\/wp-content\/uploads\/2026\/06\/dcf-thumbnail.png)\"><div class=\"et_pb_video_overlay_hover\"><a class=\"et_pb_video_play\" href=\"#\"><\/a><\/div><\/div><\/div><\/div><\/div><\/div><\/div><div class=\"et_pb_section_12 et_pb_section et_section_regular et_flex_section et-interaction-target-gl5ww9zkm8\" data-interaction-target=\"gl5ww9zkm8\"><div class=\"et_pb_row_16 et_pb_row et_flex_row\"><div class=\"et_pb_column_42 et_pb_column et-last-child et_flex_column et_pb_css_mix_blend_mode_passthrough et_flex_column_24_24 et_flex_column_24_24_tablet et_flex_column_24_24_phone\"><div class=\"et_pb_group_4 et_pb_group et-last-child et_pb_module et_flex_group et_pb_css_mix_blend_mode_passthrough\"><div class=\"et_pb_icon_4 et_pb_icon et_pb_module et_flex_module\" data-interaction-trigger=\"sod4gumsz9\"><span class=\"et_pb_icon_wrap\"><span class=\"et-pb-icon\">Q<\/span><\/span><\/div><div class=\"et_pb_video_10 et_pb_video et_pb_module et_flex_module\"><div class=\"et_pb_video_box\"><video controls><source type=\"video\/mp4\" src=\"https:\/\/www.gxglegal.com\/wp-content\/uploads\/2026\/06\/REEL-D3-N-S7R3-TERM-SHEET.mp4\" \/><\/video><\/div><div class=\"et_pb_video_overlay\" style=\"background-image:url(https:\/\/www.gxglegal.com\/wp-content\/uploads\/2026\/06\/TERM-SHEET-THUMBNAIL.png)\"><div class=\"et_pb_video_overlay_hover\"><a class=\"et_pb_video_play\" href=\"#\"><\/a><\/div><\/div><\/div><\/div><\/div><\/div><\/div>","protected":false},"excerpt":{"rendered":"","protected":false},"author":1,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"footnotes":""},"class_list":["post-5342","page","type-page","status-publish","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.5 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Private Equity &amp; Venture Capital - GxG Legal<\/title>\n<meta name=\"description\" content=\"Support for PE investments, VC financing rounds &amp; exits. GxG Legal advises funds, business angels &amp; start-ups in Frankfurt.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.gxglegal.com\/en\/private-equity-venture-capital\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Private Equity &amp; Venture Capital - GxG Legal\" \/>\n<meta property=\"og:description\" content=\"Equity transactions thrive on pace, contractual discipline, and a clear view of dilution, liquidation preferences, and exit mechanics.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.gxglegal.com\/en\/private-equity-venture-capital\/\" \/>\n<meta property=\"og:site_name\" content=\"GxG Legal\" \/>\n<meta property=\"article:modified_time\" content=\"2026-08-29T14:53:22+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.gxglegal.com\/wp-content\/uploads\/2026\/06\/pe-1024x617.png\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.gxglegal.com\\\/en\\\/private-equity-venture-capital\\\/\",\"url\":\"https:\\\/\\\/www.gxglegal.com\\\/en\\\/private-equity-venture-capital\\\/\",\"name\":\"Private Equity & Venture Capital - GxG Legal\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.gxglegal.com\\\/en\\\/#website\"},\"datePublished\":\"2026-06-15T11:39:41+00:00\",\"dateModified\":\"2026-08-29T14:53:22+00:00\",\"description\":\"Support for PE investments, VC financing rounds & exits. GxG Legal advises funds, business angels & start-ups in Frankfurt.\",\"breadcrumb\":{\"@id\":\"https:\\\/\\\/www.gxglegal.com\\\/en\\\/private-equity-venture-capital\\\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/www.gxglegal.com\\\/en\\\/private-equity-venture-capital\\\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/www.gxglegal.com\\\/en\\\/private-equity-venture-capital\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Start\",\"item\":\"https:\\\/\\\/www.gxglegal.com\\\/en\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Private Equity &#038; Venture Capital\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/www.gxglegal.com\\\/en\\\/#website\",\"url\":\"https:\\\/\\\/www.gxglegal.com\\\/en\\\/\",\"name\":\"GxG Legal\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/www.gxglegal.com\\\/en\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Private Equity & Venture Capital - GxG Legal","description":"Support for PE investments, VC financing rounds & exits. GxG Legal advises funds, business angels & start-ups in Frankfurt.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.gxglegal.com\/en\/private-equity-venture-capital\/","og_locale":"en_US","og_type":"article","og_title":"Private Equity & Venture Capital - GxG Legal","og_description":"Equity transactions thrive on pace, contractual discipline, and a clear view of dilution, liquidation preferences, and exit mechanics.","og_url":"https:\/\/www.gxglegal.com\/en\/private-equity-venture-capital\/","og_site_name":"GxG Legal","article_modified_time":"2026-08-29T14:53:22+00:00","og_image":[{"url":"https:\/\/www.gxglegal.com\/wp-content\/uploads\/2026\/06\/pe-1024x617.png","type":"","width":"","height":""}],"twitter_card":"summary_large_image","schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/www.gxglegal.com\/en\/private-equity-venture-capital\/","url":"https:\/\/www.gxglegal.com\/en\/private-equity-venture-capital\/","name":"Private Equity & Venture Capital - GxG Legal","isPartOf":{"@id":"https:\/\/www.gxglegal.com\/en\/#website"},"datePublished":"2026-06-15T11:39:41+00:00","dateModified":"2026-08-29T14:53:22+00:00","description":"Support for PE investments, VC financing rounds & exits. GxG Legal advises funds, business angels & start-ups in Frankfurt.","breadcrumb":{"@id":"https:\/\/www.gxglegal.com\/en\/private-equity-venture-capital\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.gxglegal.com\/en\/private-equity-venture-capital\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/www.gxglegal.com\/en\/private-equity-venture-capital\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Start","item":"https:\/\/www.gxglegal.com\/en\/"},{"@type":"ListItem","position":2,"name":"Private Equity &#038; Venture Capital"}]},{"@type":"WebSite","@id":"https:\/\/www.gxglegal.com\/en\/#website","url":"https:\/\/www.gxglegal.com\/en\/","name":"GxG Legal","description":"","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.gxglegal.com\/en\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"}]}},"_links":{"self":[{"href":"https:\/\/www.gxglegal.com\/en\/wp-json\/wp\/v2\/pages\/5342","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.gxglegal.com\/en\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/www.gxglegal.com\/en\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/www.gxglegal.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.gxglegal.com\/en\/wp-json\/wp\/v2\/comments?post=5342"}],"version-history":[{"count":2,"href":"https:\/\/www.gxglegal.com\/en\/wp-json\/wp\/v2\/pages\/5342\/revisions"}],"predecessor-version":[{"id":5344,"href":"https:\/\/www.gxglegal.com\/en\/wp-json\/wp\/v2\/pages\/5342\/revisions\/5344"}],"wp:attachment":[{"href":"https:\/\/www.gxglegal.com\/en\/wp-json\/wp\/v2\/media?parent=5342"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}