This project is intended to provide policy makers valuable input in their efforts to improve access to finance for SME's. Its main focus is therefore on two main processes: the financing of young, innovative, growth-oriented companies and financing business transfers. Objectives are twofold: gain insight into: (1) the manner in which companies funded during their initial growth phase and their transfer, and (2) how these financing strategies affect their development. The interaction will be investigated between different forms of finance and investors, such as the way the differences in funding sources and sponsors influence the development of young SME's.