While some measures have been implemented recently, such as the Act on the Modernization of Framework Conditions for Venture Capital and Equity Investments (MoRaGK) in 2008 and the establishment of start-up funds (included in the High Tech Strategy), more needs to be done to mobilise venture capital in Germany. The government appropriately plans to improve the framework conditions for venture capital when implementing the EU Directive on Alternative Investment Fund Managers (AIFM) in national legislation. At this occasion, measures should be taken to reduce the strictness of the existing regulation, improve the transparency of the supervision system defined in the MoRaGK and provide venture capitalists with appropriate exit possibilities.