In general, all three alternatives represent a financing instrument for growth companies and subsequently support companies in their development. Nevertheless, there are some significant differences: While both VCs and Family Offives become shareholders in the company over a pre-defined period of time and thus have an influence in the strategic direction, in case of an IPO the company shares are divided among a significantly larger number of shareholders, thus fully retaining control by the current owners or founders As an element of a financing strategy, an IPO continues to provide access and excellent combination possibilites with various capitalization instruments VCs and Family Offives usually excel not only in financial but also strategic support and bring competencies to the company The execution of an IPO is detached from strategic decisions, so that shareholders do not profit from a possible exit