Venture Capital 2025

INTRODUCTION

Contributed by: Carsten Berrar, Florian Späth and Heiko Blaut, Sullivan & Cromwell LLP

Sullivan & Cromwell LLP provides the highest quality legal advice and representation to clients worldwide. Sullivan & Cromwell’s (S&C) record of success and excellent client service have set it apart for more than 140 years and made the firm a model for the modern practice of law. To - day, S&C is a leader in each of its core practice areas and in each of its geographic markets. Its more than 900 lawyers conduct a seamless,

global practice through a network of 13 offices worldwide. Its capital markets and pre-eminent M&A practices are deeply intertwined with the development of growth companies and their investment structures. As such, S&C regularly represents venture capital investors and growth companies alike, particularly in later-stage and more sizeable transactions.

Contributing Editors

Carsten Berrar is a member of Sullivan & Cromwell’s management committee, managing partner of the firm’s Frankfurt office, and co-head of its global capital markets group.

Florian Späth is a senior associate in Sullivan & Cromwell’s Frankfurt office. He has extensive experience in private and public M&A transactions alike and focuses

As one of Germany’s leading lawyers both for M&A and capital markets, he has advised countless start-ups and rapidly scaling companies in connection with significant corporate transactions such as financing rounds, M&A events and IPOs. His practice includes advising financial and venture capitalist investors in this context. Carsten has been recognised as German “Dealmaker of the Year” and he is ranked Band 1 by Chambers and Partners for German Corporate/M&A and as a “Star Individual” for German Capital Markets: Equity.

on matters involving private equity investors and financial sponsors. In 2021/2022, Florian joined Deutsche Boerse Group, a leading European provider of financial markets infrastructure, where he headed the group‘s legal M&A and venture capital (VC) activities. In this capacity, he co-ordinated and provided counsel on Deutsche Boerse‘s M&A and VC projects, strategic partnerships and innovation initiatives.

Heiko Blaut is an associate in Sullivan & Cromwell’s Frankfurt office. He is a member of the firm’s general practice group, is admitted to the Bar of Frankfurt am Main, and is fluent in English in addition to German.

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