About us

The Chair of Entrepreneurial Finance was established in 2001 by the DtA (today: KfW-Bankengruppe) as the first and for a long time the sole chair of entrepreneurial finance in Germany. Prof. Dr. Dr. Ann-Kristin Achleitner has been holding the chair since its establishment. Since 2015 Prof. Dr. Reiner Braun has held the Chair of Entrepreneurial Finance 2. The focus of our research and education is the financing of start-ups and entrepreneurial firms. Special emphasis is placed on private capital markets, for example business angels, venture capital and private equity.

Our research covers a broad spectrum of topics such as the relationship between companies and their financing as well as the relationship between the funds provided and the investors. In support of the research activities, the staff of the Chairs of Entrepreneurial Finance is integrated in the Center for Entrepreneurial and Financial Studies (CEFS). This research institute, established in cooperation with the Chair of Financial Management and Capital Markets of Prof. Dr. Christoph Kaserer, combines the research on young, innovative and medium-sized companies with that on public and private capital markets.

During recent years, the chair and the CEFS staff successfully conducted some widely-cited projects and studies together with such renowned partners like EVCA, Deutsche Börse, Apax Partners, KfW Mittelstandsbank, Harvard Business School or London Business School. Publications of current research of the chair and the CEFS staff are published in the joint CEFS working paper series.

On the teaching side, the Chairs of Entrepreneurial Finance offers a major in Entrepreneurial Finance for two different courses of study: The foundation of the Business School at the TU Muenchen led to the establishment of the new and so far unique course of Technology and Management oriented Business Administration (TUM-BWL), which focuses on a modern business administration education and a well-founded knowledge of technical and natural sciences. Furthermore, a postgraduate Master of Business Administration (MBA) is offered for graduates of natural-sciences and engineering courses. Moreover, some courses are open to and highly frequented by students of other departments and their courses of studies, such as biotechnology.

A broad choice of courses and seminars guarantees a holistic knowledge in the fields of finance, entrepreneurship and the management of entrepreneurial firms. The objective is to give the students a sound knowledge of science and industry. The strong orientation towards practical application in the courses is, in particular, achieved by the inclusion of industry partners and founders as well as a growing usage of case studies. Examples from past semesters are the visits of Mark Samwer (founder of Jamba) and Heiner Kamps (founder of Kamps AG) in our courses plus the workshops and courses organised jointly with industry partners (e.g. Atlas Venture, Allianz AG, Bain & Company, Dresdner Bank).

Since the winter semester 07/08 Prof. Achleitner is teaching part-time.