Tobias Liebl

𝗔𝗰𝗰𝗲𝘀𝘀 𝘁𝗼 𝗚𝗲𝗿𝗺𝗮𝗻 𝗩𝗖 𝗖𝗮𝗽𝗶𝘁𝗮𝗹 𝗳𝗼𝗿 𝗦𝘁𝗮𝗿𝘁-𝘂𝗽𝘀 𝗘𝘅𝗽𝗲𝗰𝘁𝗲𝗱 𝘁𝗼 𝗜𝗺𝗽𝗿𝗼𝘃𝗲! (at least, that's the hope according to the latest surveys by the German Private Equity and Venture Capital Association (BVK) and KfW Bank). 𝗪𝗵𝗮𝘁'𝘀 𝘁𝗵𝗲 𝗱𝗲𝗮𝗹? 🤓 The BVK's German Venture Capital Barometer surveys around 200 members quarterly, covering key metrics that describe the business climate in the German VC landscape, including fundraising, exit options, and more. Start-ups are at the end of the VC funding chain. If VC funds face a capital crunch, Start-ups feel the squeeze too. 𝗧𝗵𝗲 𝗔𝗻𝗮𝗹𝘆𝘀𝗶𝘀 📊 I've graphically analyzed the data since 2019 (see image below) and found: 𝗖𝗼𝗿𝗼𝗻𝗮 𝗦𝗵𝗼𝗰𝗸: The pandemic was a shock but also spurred new business models and opportunities. VC sentiment on fundraising and exits was high between 2020 and 2021. However, Start-up entry valuations dropped, possibly due to market pessimism. The deal pipeline remained strong, with robust deal flow quality and quantity. Many Start-ups seized the moment to access VC investments at lower valuations, driven by the pandemic's uncertainty. 𝗧𝗵𝗲 𝗕𝗶𝗴 𝗗𝗲𝗻𝘁 𝗶𝗻 𝟮𝟬𝟮𝟮: Many factors contributed to this downturn. Notably, the ECB's incremental interest rate hikes aimed at curbing inflation in Europe (see purple line). Increased energy costs, the war in Ukraine (loss of sales markets), supply chain disruptions, and poor market sentiment likely played roles. These challenges made it tough to raise fresh VC capital and secure attractive exits. A backlog of exits still exists. 𝗔 𝗥𝗮𝘆 𝗼𝗳 𝗛𝗼𝗽𝗲 𝗶𝗻 𝗤𝟮 𝟮𝟬𝟮𝟰: The sentiment indicator improved by 10.6 points to -8.9 balance points. A positive trend is also emerging in fundraising and exit options. 𝗛𝗼𝘄 𝘄𝗼𝘂𝗹𝗱 𝘆𝗼𝘂 𝗶𝗻𝘁𝗲𝗿𝗽𝗿𝗲𝘁 𝘁𝗵𝗲 𝗱𝗮𝘁𝗮? 🤔 I hope the situation improves in the coming months and years. Young, dynamic, and innovative Start-ups are crucial for long-term economic growth, as seen in the USA. Have you noticed the negative sentiment as a Start-up? Or the exit congestion as a VC manager? When do you think the situation will turn around? You can find full access to the reports at: https://lnkd.in/eJUt7AeK

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The Mannheim MBA offers the best Return On Investment (ROI) worldwide. This has again been confirmed by the QS Global MBA Rankings 2025. In this list of leading business schools, Mannheim is positioned among the Top 50 worldwide again. Find out more about the Mannheim Full-Time MBA here: https://lnkd.in/ea5Ej629 #MannheimBusinessSchool #MannheimerForLife #MannheimMBA #MBA #ROI

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Meet our colleague Rainer, who has been part of Roland Berger since 2022 and still remembers the recruitment process very clearly. 💭 "I tried to do cases with case partners, so I signed up on online platforms where there are fellow applicants who want to train for consulting interviews." Curious about how the application process works at Roland Berger and what else Rainer did to prepare? Join us on our YouTube channel for the full video featuring Rainer and his colleagues Stefanie, Magdalena, Marco, and Robert. They will share their experiences and insights into life at Roland Berger and the Financial Services industry! 📽️ Click the link below to watch now: https://lnkd.in/dG77sAPH #JoinRolandBerger #ConsultingCareer #FinancialServices #RecruitmentProcess

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Shaping Europe’s #DeepTech future together! 🌍🤝 One of the highlights at this year’s #FallingWalls Science Summit was our #BCG x SPRIND - Bundesagentur für Sprunginnovationen Executive Table, bringing together leaders from diverse innovation agencies, corporates, and venture capitalists across Europe. Never before have we gathered such a diverse group to shape our deep tech future.  This fruitful discussion marked a powerful step toward a pan-European deep tech strategy, focusing on three crucial changes needed for us to lead in global innovation:  ➡ Change scientific dogma: Almost half of the world's PhDs are awarded in Europe, yet success for scientists is still measured mainly by publications. To empower real-world impact, founding a company should be a natural next step post-PhD. Shifting this mindset can inspire a new generation of science-driven entrepreneurs. ➡ Strengthen business transfer: With German universities investing only 0.1% of their budgets into business transfer, we see an urgent need to rethink these priorities. University transfer centers should move from profit centers to service providers, supporting deep tech startups through long-term investment, encouraging both risk-taking and sustainable growth. ➡ Build a shared ecosystem: While Europe has made strides in early-stage funding, there’s a gap in later-stage investments, especially compared to the US. Encouraging companies and governments to become startup clients and fostering venture clienting are essential steps to create a sustainable ecosystem that helps deep tech startups scale effectively. At BCG, we are proud to have collaborated with SPRIN-D to build these bridges and foster the essential discussions. Thank you to all participants for joining the table and exchanging your ideas.  #Innovation Markus Lorenz Rafael Laguna de la Vera Antonia Jenkinson, ACCA, FCSI Anna Bergstrand António Grilo

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Wow - thanks Simon Walter, Magdalena Maier and Charlotte Niklahs for the program you've put together for the #management hive of #pakcon24! 🔥 How to set up a 10x innovation culture by Nina Michahelles, Sarina Hergarten, Alexander Böhm, Nils Wagner How to build and scale high-performing companies by Friederike Reuter, Stefan Roebel, Martin Sondenheimer, Magdalena Maier Strategy is broken by Sebastian Herzog, Isabelle Schnellbuegel, Paul Becker, Simon Walter AI: The Biggest Opportunity for the German Mittelstand? by Dr. Alexander Mrozek, Dr. Sebastian Walter, Anna Franziska Michel, Dr. Alexandra Deichsel Why Digital Transformations often fail - particularly in Germany by Miriam van Straelen, Marc Schiekofer, Cecilie Hohlbein Hegelund, Moritz Trutschel Venture Clienting - Success Factors of Startup - Corporate Collaborations by Arno Baltruschat, Dr. Sophie Chung, Stefan Schmautz, Anne Decker Last ticket drop: https://lnkd.in/duPQg3Wc

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Recently, I had the opportunity to talk to Daniel Nerlich, founder of CONSULTANT career lounge. We talked about INVERTO | A BCG Company and Boston Consulting Group (BCG), about the challenges the economy is facing and discussed why procurement and supply chain teams are so integral to make our clients businesses stronger.   Thank you for the interesting conversation, Daniel Nerlich!   Please read the whole interview here: https://lnkd.in/eFcdcY_3 Let me have your thoughts!   #Procurement #SupplyChain #Wearehiring #BCG #INVERTO

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Handelsblatt published a special edition today titled "The Future Plan: 60 Ideas to Advance Germany." Many executives contributed their perspectives – and so did we at McKinsey & Company. Together with BCG and Roland Berger, we honored Handelsblatt's request and outlined an "Agenda 2035" that can guide Germany towards a new trajectory of economic growth. You can read the full article below [in German]. Growth is the prerequisite for the wealth of our economy – everyone should contribute, and everyone can benefit. Thanks Handelsblatt for this initiative and thanks Michael Brigl and Stefan Schaible for the joint effort! With this, we want to provide an impetus for economic growth and investments – beyond client work and our own thought leadership publications such as our recent report "A Pivot for Germany – All for Growth and Growth for All" (mck.de/apivotforgermany | mck.de/wachstumswende). #Together, let's make a positive impact and contribute to the advancement of our economy. #zusammen #WachstumswendeDeutschland #60JahreMcKinseyDeutschland

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Germany’s "𝐀𝐠𝐞𝐧𝐝𝐚 2035," crafted by McKinsey & Company, Boston Consulting Group (BCG), and Roland Berger, emphasizes the urgent need for innovation and transformation across industries—from strengthening traditional sectors to leading in AI and sustainability 🌍🤖. For us in Executive Search, this highlights new requirements for top management, including: 🌟𝐕𝐢𝐬𝐢𝐨𝐧𝐚𝐫𝐲 𝐋𝐞𝐚𝐝𝐞𝐫𝐬𝐡𝐢𝐩: Executives must possess a clear vision to navigate complex changes and foster growth in uncertain times. 💻𝐓𝐞𝐜𝐡-𝐒𝐚𝐯𝐯𝐢𝐧𝐞𝐬𝐬: Understanding digital transformation and embracing new technologies is essential to drive efficiency and innovation. ♻️𝐒𝐮𝐬𝐭𝐚𝐢𝐧𝐚𝐛𝐢𝐥𝐢𝐭𝐲 𝐅𝐨𝐜𝐮𝐬: Leaders need to integrate sustainable practices into their business models to meet evolving regulatory and societal expectations. 🤝𝐂𝐫𝐨𝐬𝐬-𝐒𝐞𝐜𝐭𝐨𝐫 𝐂𝐨𝐥𝐥𝐚𝐛𝐨𝐫𝐚𝐭𝐢𝐨𝐧: Building partnerships and engaging in constructive dialogue across industries is crucial for addressing multifaceted challenges. The hunt for visionary, tech-savvy executives is more critical than ever! 🚀 Curious to hear your thoughts, Michael Brigl — how do you see leadership evolving in this context? 🤔 #Leadership #ExecutiveSearch #TopManagement #FutureOfWork #DigitalTransformation

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🏁💥 How can we keep European companies competitive while watching countries like Germany fall behind in innovation rankings? A recent Handelsblatt article by Thomas Jahn and Nadine Schimroszik uncovers what’s behind the innovation ranking produced by the Federation of German Industries (BDI - Bundesverband der Deutschen Industrie e.V.) and Roland Berger, where Germany has moved down to 12th place out of a total of 35 selected countries. 🤝 Earlybird Co-Founder & Partner Dr. Hendrik Brandis comments “As a business location, we should aspire to commercialize deep tech technologies here in the long term. But if companies are faced with a choice of either not finding the necessary follow-up financing or accepting a relocation, the latter will be the preferred option.” This article includes special mentions of Earlybird portfolio companies Isar Aerospace, Marvel Fusion, and Lilium. 🚀 Experts, investors, and entrepreneurs see 4 main measures for Germany to secure a better future. Read here to discover the path to success: https://bit.ly/3Zvj7ax. Cc: Daniel Metzler, Josef Fleischmann, Moritz von der Linden, Pasha Shabalin, Heike Freund, Daniel Wiegand, Sebastian Born, Dr. Patrick Nathen, Matthias Meiner and many more! #Innovation #European #Germany #Startups #Growth #VentureCapital

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Preparing the future further and better...

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Managing #operations can feel like hiking through unchartered territory in the summer heat: Current market dynamics ask for performance on the cost side and operations functions are in focus, too. How is your firm's operations #efficiency program organized? Are you ready to defeat the summer heat? Roland Berger Jochen Gleisberg Christian BOEHLER Lars Ickenroth Thomas Schwarz

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Great thoughts on how to balance multiple target dimensions when realigning operations and (re)-building production sites. Nowadays investments and operating costs run beside resilience, ESG, digitization requirements. Finding the synergies to make conflicting targets into self-reinforcing ones needs a holistic approach!

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The economic development in Germany is currently under a lot of pressure. This is also visible in my area of passion the #automotive industry and the transition to #e-mobility. But we believe that a pivot is possible. Here is our latest perspective on “A pivot for Germany – All for growth and growth for all”. According to our results, Germany can increase its GDP by almost 50 percent by 2035. ▶️ With a dual strategy of stronger focus on future fields and higher productivity, plus a massive state investment push, Germany can become more attractive for investments from private sector sources. ▶️ The value of the German economy would grow from 12 to 24 trillion euros, which would mean an additional 31,000 EUR in annual income for households. ▶️ With this growth, central societal challenges can be addressed – with higher investments in education, health, climate change, infrastructure development, and social security systems. 👉 The full report is available here: mck.de/apivotforgermany (English) or mck.de/wachstumswende (German) #WachstumswendeDeutschland #60JahreMcKinseyDeutschland

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Start-ups in Europe: a light at the end of the tunnel - finally!    This article by Nadine Schimroszik in Handelsblatt gives reason for hope for the tech ecosystem, as it summarises a development that has been tentatively emerging for some time: The number of new #start-ups in Germany is growing again, by 17 per cent, as shown by a comparison of the first quarter of 2024 with the same quarter of the previous year.   💡It is particularly interesting to see that most investments are being made in AI. An unmistakable sign that they continue to be a driver of innovation for the German startup ecosystem.   We recently came to a similar conclusion with my team, as part of our analysis of the German startup landscape. Our conclusion: more and more funding are being mobilised for ♻️ #Greentech business ideas that are based on AI-based technologies and have a positive impact on our planet. More info on our research at IRIS can be found in Startup Insider`s Investors Report 2024: https://lnkd.in/dU-5AMPz More info on Nadine’s insightful article here: https://lnkd.in/depicwGA

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"We [Germany] are on the way to becoming a developing country...we’ve become a junk shop". - Theodor Weimer, CEO of Deutsche Börse. 😬 Everything seems totally normal and fine in Europe's largest economy. 😳 🤣 "Our reputation in the world has never been as bad as it is now. Never before." Well...I mean...come on...we at least know that's not true. It is Germany you're talking about after all. https://lnkd.in/eAzRyuXP 🇩🇪 🍺 🥨 #stocks #finance #banks #banking #money #business #tech #technology #innovation #startups #entrepreneurs #entrepreneurship #vc #venturecapital

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Increasing M&A activity is influencing the German #consulting market – this is one of the key findings of the recently published 𝗟ü𝗻𝗲𝗻𝗱𝗼𝗻𝗸 𝗕𝘂𝘀𝗶𝗻𝗲𝘀𝘀 𝗖𝗼𝗻𝘀𝘂𝗹𝘁𝗶𝗻𝗴 𝗟𝗶𝘀𝘁.   🔗 The #Lünendonk List of the Top 20 leading #businessconsulting companies in Germany is available for free download at: https://lnkd.in/dpdgyRch   📈 The Top 20 German consultancies grew by 12.5 per cent in 2023, international consultancies by 8.4 per cent. According to the German Association of Management Consultancies (Bundesverband Deutscher Unternehmensberatungen (BDU) e. V.), the German management #consultancy market grew to €46.7 billion in 2023 (+6.9%; 2022: €43.7 billion).   𝗔𝘁 𝗮 𝗴𝗹𝗮𝗻𝗰𝗲: 𝘁𝗵𝗲 𝗧𝗼𝗽 𝟱 𝗼𝗳 𝘁𝗵𝗲 𝗚𝗲𝗿𝗺𝗮𝗻 𝗰𝗼𝗻𝘀𝘂𝗹𝘁𝗮𝗻𝗰𝗶𝗲𝘀 📍 Roland Berger continues to head the Lünendonk List of German business consultancies by a notable margin. Total revenues here rose by 14.9 per cent to precisely 1 billion euros. 📍 Simon-Kucher retains second place with total revenues of 540.5 million euros. Growth at the firm is comparatively low at one per cent. 📍 Taking third spot among German management consultancies this year is Horváth, with revenues of 306.0 million euros (+13.3%). 📍 Porsche Consulting follows close behind, its sales for the first time surpassing €300 million (€304.6 million; +12.4%). 📍 d-fine also achieved above-average growth of 20.1 per cent and ranks fifth on 266.2 million euros.   The German consulting market continues to be dominated by international consulting companies with a range of service offerings. Accenture and Deloitte’s consulting units are the global industry leaders with revenues of more than US$30 billion each, followed by PwC (US$22.6 billion) and EY (US$22.2 billion).   📘 The Lünendonk-List is part of the Lünendonk Survey 2024 ‘𝗕𝘂𝘀𝗶𝗻𝗲𝘀𝘀 𝗖𝗼𝗻𝘀𝘂𝗹𝘁𝗶𝗻𝗴 𝗶𝗻 𝗚𝗲𝗿𝗺𝗮𝗻’ - a central theme alongside the industry rankings is artificial intelligence (#AI). The Survey will be published in July and is available to order at https://lnkd.in/dRejctAa Jörg Hossenfelder https://lnkd.in/dpdgyRch

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I took a 2 month #parentalleave as a Partner at Roland Berger to take care of my son and spend more time with my wife. Are are my 5 learnings and recommendations how to make it happen: 1. #Enjoy the moment: Just be there for your family, don't overload the time with special activities every day. Go out in the forest, swimming or go to the playground brings a lot of joy 2. Align timing with #business cycle: Put the leave ideally in the summer months of July and August or whatever time is best for your industry 3. #Delegate all tasks and enable the next leadership generation: Don't think that you are irreplaceable, instead try to hand over all responsibilities, potentially except for having a look at your direct reports from time to time 4. Spend time with your #partner: Do things you did not manage to do in the last months such as a romantic dinner or going to the cinema while your kid is in daycare or relatives have a look 5. Do a private #project: My wife and I build a gigantic mud kitchen for our son and I trief to swim every day for 1h while he was sleeping You could also reconsider if a formal parental leave, i.e. being 100% out is right or if you want to move to a 80 or 90% contract with 2 or 3 months vacation in a year but more flexibility. And finally: Just do it. The time with your kid never comes back. A big thank you from my side to my mentor Carsten Bock , our Industrials head Norbert Dressler and the Roland Berger Advanced Technology Center and Electronics practices for covering me, in particular: Falk Meissner Dr. Joerg Schrottke Alexander Fey Dr. Sebastian Schams Andrew Yi Carina Kiessling Maurus Wüthrich

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The German economy's need for transformation continues to ensure full order books 📖 🌐 Global players in consulting are growing in single digits - driven by less dynamic development in the USA and Asia. 📈 The Federal Association of German Management Consultancies (BDU) are still forecasting growth of 7.2%.

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💡 Artificial Intelligence (AI) has the potential to act as a catalyst for a wide variety of transaction types. Particularly, generative #AI possesses the power to disrupt entities ranging from corporate giants to startups, impacting sectors and even entire industries. Although generative AI is still in its infancy, its influence on business and society is already becoming significant. AI can drive substantial cost efficiencies, create new revenue streams, open new customer channels, and both enhance and commoditize value propositions. The forthcoming AI wave will compel companies to reassess their strategies, business models, markets, and competitors. This movement is likely to generate a spectrum of transactions, from traditional mergers and acquisitions (M&A) to partnerships, alliances, and innovative relationships previously unseen. Read the complete report below.

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