Insights Archive


ICOs under scrutiny by regulatory authorities

European regulatory authorities, including ESMA and BaFin, have published warnings targeted at investors participating in and firms involved in ICOs. While token sales may become a valuable and important financing alternative for early stage companies in selected industries, they will be under close scrutiny by regulatory authorities throughout Europe.

November 15, 2017 News Read more

SMP Opening Ceremony at Stilwerk Berlin

Around 300 guests accepted the invitation to our grand opening on November 9, where the focus was on ICOs and crypto currencies.

November 10, 2017 News Read more

Taxation of exit proceeds for corporate investors

Germany has a favorable tax regime for corporate investors such as VCs investing via a corporation. Capital gains derived from an exit of shares in a corporation are usually tax-exempted in Germany.

September 01, 2017 News Read more

Taxation of dividends for corporate investors

Even though portfolio companies usually reinvest their profits in future growth, occasionally dividends are distributed to corporate investors. Such dividends are generally exempted from corporate income tax (CIT) in Germany.

August 15, 2017 News Read more

ICOs – New rules for startup financing

While Initial Coin Offerings (ICOs) have already become a notable form of financing for early stage blockchain-based startup companies, SMP is assessing their potential impact on the world of venture capital in general.

July 11, 2017 News Read more

ICO – A revolution in startup funding?

Initial Coin Offerings (ICOs) are the latest example for the young tech ventures' creativity and investors' willingness to participate in experimental, risky and (allegedly) unregulated financial innovation.

April 01, 2017 News Read more