Walter Droege was born in Dusseldorf, Germany, Germany. Walter Droege and wife Hedda im Brahm Droege founded Droege International Group in 1988 and have since turned the Dusseldorf-based company into one of the world's largest business consulting, restructuring and corporate advisory practices, with annual revenues topping $10 billion and 62,000 people working in offices in 30 countries. Droege has a hybrid business model, providing expertise to external consulting clients and making direct "buy and build" investments (mostly in corporate subsidiaries and medium-size companies in special situations) for its own portfolio. It also has a venture program aimed at emerging high-growth companies with innovative business models applicable to traditional sectors in which the portfolio companies of Droege Group operate. By acting like entrepreneurs and providing capital, management resources and "value-add" know-how, Droege follows the principle of "Entrepreneurship as a Service" in engaging with clients seeking advice in developing and implementing future-oriented, digital business models. Walter Droege owns 78% of the company and serves as CEO and executive managing director. Hedda, who is vice-chairwoman of the supervisory board, owns the rest.