Like so many financial technology companies, German neobroker Nextmarkets raised capital in 2021 on a wave of optimism. Christian Angermayer, a German biotech entrepreneur with an interest in commercializing medical use of psychedelic drugs, invested alongside a group of fintech and cryptocurrency enthusiasts, including British hedge fund billionaire Alan Howard. Jump to: Venture capital downturn sparks debt expansion GoHenry deal signals new wave of consolidation How SVB’s collapse triggered...

Private equity funds specializing in distressed debt will strike a hard bargain before acquiring and recapitalizing troubled banks, but European state-aid rules make the alternative even less appealing. Private-equity buy-outs are not the ideal solution to capital shortages at European banks. But needs must. These deals are on the up, made possible by the grudging acquiescence of the European Central Bank and the appetite of a handful of US distressed-debt investors, principally Apollo,...