Austria has developed a well-functioning early-stage financing ecosystem supported by public initiatives, business angels and venture capital funds. Beyond the initial phase, however, access to growth funding becomes more challenging, particularly where larger, and more structured financing solutions are required.
Many growth-stage companies operate with validated business models but lack the long track record typically required by traditional capital providers, resulting in a perceived higher risk profile.
This session provides an Austrian perspective on the financing infrastructure for growth-stage companies, with a particular focus on how non-dilutive instruments and capital market solutions can complement equity financing and support sustainable growth.
Topics
Austria-specific market dynamics: Overview of the growth financing landscape and structural reasons why non-dilutive, capital market-oriented instruments (e.g. corporate and Nordic bonds) remain less widely used.
Growth financing for scale-ups and SMEs: Typical applications, structuring approaches, and current market developments beyond early-stage funding.
Non-dilutive financing instruments: Venture debt, mezzanine capital, cash flow-based financing, and selected capital market structures.
Prerequisites and investor perspective: Requirements related to business models, KPIs, risk allocation, collateral, covenants, reporting, and governance.
Capital structure considerations: Key factors in building sustainable financing structures, including leverage capacity, financial resilience, role of lead investors, and structuring of security packages.
Advantages and limitations: Impact of financing instruments on capital structure, cost considerations, and strategic implications, including typical challenges and pitfalls.
Timing and process considerations: Interaction with equity rounds, financing readiness, and key success factors in execution.
Financing partner landscape: Overview of relevant market participants, including banks, private debt funds, and institutional investors.
Learning Objective
Participants will gain a structured understanding of how growth-stage companies in Austria can combine different financing instruments to build robust and scalable capital structures.
Speakers
Sven Balciunas, Founding Partner
Karin Pühringer, Founding Partner
TUDC | Thumbs Up Disruption Company is a boutique advisory firm specializing in growth financing and capital structuring, supporting companies and shareholders in complex financing situations.
Event Details
Registration:
kathrin.schneeweiss@cfaaustria.org
Date: Wednesday, 16 September 2026
Time: 12:30–14:00
Location: Private Members Club, Am Hof 8, 1010 Vienna
Credits: 1.5 PE/CE Credits
Food and drinks will be served.