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Laxman Pai, Opalesque Asia:

It is an exciting time for start-ups in Berlin, as venture capital firms recognize growth opportunities and channel funds into new businesses in the city, said Preqin.

Berlin is fast becoming the German equivalent of San Francisco and London in the US and UK respectively. And the reasons are similar. Increasing digitization has enabled creative people to innovate, set new trends, found companies, create jobs and build a digital economy.

At the midpoint of 2019, venture capital deals in Berlin have broken their annual record in terms of aggregate value, totaling EUR2.2bn from only 94 deals, according to Preqin Insights.

With these figures likely to increase by the end of the year, Berlin is narrowing the gap with London as the largest European venture capital hub - deals in London so far this year amount to €3.8bn in comparison, and €1.7bn for transactions in Paris.

From 2007 to 2011, Berlin-based start-ups struggled to attract funding from venture capital firms, but in 2012 the number of deals shot up by 67% to 117, which completed for a total of €288mn. Since then the number of deals has remained high, reaching a peak of 182 deals in 2016, and the value of these transactions has generally followed an upward trend.

Berlin nurtures start-ups

"Berlin is the perfect storm of affordable rents and available co-working spaces, along with accelerator programs, numerous incubators, talent in Central & Eastern Europe......................

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