of collective investment undertakings that operate under the qualifying venture capital funds under the designation'EuVECA' expires with immediate [].

EuVECA | Invest Europe. Share. EuVECA. The European Venture Capital Fund (EuVECA) Regulation offers a voluntary EU-wide marketing passport to qualifying fund managers, while sparing them the costs associated with authorisation and compliance with the AIFMD, such as the requirement to appoint a depositary.

• A “qualifying portfolio undertaking includes a company that is: Qualifying investments under EuVECA has been developed further since 2013. Quite large and established companies may be included in the 70 % of committed capital which must be invested in “qualifying investments”, this is not a “venture-only regulation”. Clearly, the EuVECA criteria provides less investor protection than AIFMD. It is necessary to lay down a common framework of rules regarding the use of the designation ‘EuVECA’ for qualifying venture capital funds, in particular the composition of the portfolio of funds that operate under that designation, their eligible investment targets, the investment tools they may employ and the categories of investors that are eligible to invest in them by uniform rules in the Union. The Regulation covers a sub-category of EU-based alternative investment funds that focus on start-ups and early stage companies. Private investment via funds with this focus is a key element in the growth of these types of enterprises. For a fund to qualify as a EuVECA fund, it must: (a) meet the definition of an alternative investment fund; In return for compliance with the AIFMD, qualifying funds may opt in to an EU-wide marketing passport, under which an AIFM, registered in one member state, may market qualifying funds as a EuVECA or EuSEF (as applicable) in all other member states to clients, other investors investing at least €100,000 (who are well aware of the inherent risks of investment), executives, directors and employees involved in the management of the EuVECA or EuSEF.

The EuVECA Regulation introduced a “European Venture Capital Fund” label that qualifying funds supporting young and innovative companies were permitted to use and enabled these qualifying funds to be marketed cross-border without additional barriers in order to meet their investment needs. investor qualifying funds may target and on the internal organization of the managers that market such qualifying funds. The EuVECA regime will only be available to managers of Collective Investment Undertakings established in the European Union falling below the Alternative Investment Fund Managers Directive threshold of €500 EuVECA do not contribute to the development of systemic risks, and that such funds concentrate, in their investment activities, on supporting qualifying portfolio undertakings (as defined below). A qualifying investment3 is any of the following instruments: With the entry into force of AIFMD, the European distribution of funds for non-authorised managers has become a lot more complex. In the context of "Europe 2020", the European Parliament and the European Council jointly adopted the final text of the European Venture Capital Funds Regulation (EuVECA Regulation) in April 2013. The purpose of the EuVECA Regulation is to enhance the growth and innovation of small and medium-sized enterprises (SMEs) in the EU. Investments in qualifying portfolio undertakings established in third countries can bring more capital to qualifying venture capital funds and thereby benefit SMEs in the EU. global investments which in the long term would be against the EU’s economic self-interest. The second is our belief that a relaxation of the qualifying investment criteria and qualifying portfolio company conditions would make EuVECA and EuSEF funds more attractive as it would make them easier to establish and market.

European Commission legislative proposal for Regulation amending EuVECA Regulation and EuSEF Regulation We would like to use cookies that will enable us to analyse the use of our websites and to personalise the content for you. The Regulation on EuVECA funds (N°345/2013) became directly applicable in all the EU Member States on 22 July 2013 and provides a common EU framework for (alternative investment fund) managers of qualifying EuVECA funds that are registered with their appropriate national authorities (i.e., the CSSF in Luxembourg) so that they can benefit from the EU passport in order to manage and market (2) For the purposes of these Regulations, “the EuVECA Regulation” means Regulation (EU) No 345/2013 of the European Parliament and the Council of 17 April 2013 on European venture capital funds, as it forms part of domestic law and as modified by domestic law from time to time.

qualifying portfolio undertakings (Article 10(2)); and d) the content and procedure for provision of information for investors (Article 14(4)). 6. The EuVECA Regulation provides for delegated acts specifying the types of conflicts of interest that managers of qualifying venture capital funds need to avoid and the steps to be

Brax Investments SA ska betala en sanktionsavgift på 2 400 000 kronor för att för sent ha Peer Review on Propriety of AMSB Members and Qualifying Shareholders. (EuSEF) och 345/2013 om europeiska riskkapitalfonder (EuVECA). 'EuVECA' for qualifying venture capital funds, in particular the composition of the portfolio of funds that operate under that designation, their eligible investment zialfond, samt Storbritanniens Investment. Trust, charity fund och der (EuVECA) samt Europaparlamentets och uppfyller vissa krav (qualifying investments).

European Commission legislative proposal for Regulation amending EuVECA Regulation and EuSEF Regulation We would like to use cookies that will enable us to analyse the use of our websites and to personalise the content for you.

“Qualifying investments”, in turn, are: While both the EuVECA and EuSEF regulations and hence registrations are voluntary and not mandatory they in many cases provide the only opportunity for EU-based smaller managers of qualifying venture capital and/or social entrepreneurship funds to market these funds cross-border to European professional and semi-professional1 investors.

Qualifying investments Under the EuVECA Regulations, qualifying investments cover: JJ equity or quasi-equity instruments that are issued by: - a qualifying portfolio undertaking (see “Qualifying portfolio undertaking” below) and acquired directly by the EuVECA fund from the qualifying portfolio undertaking, - a qualifying portfolio undertaking in exchange for an equity “Qualifying investments” are: i) equity or quasi-equity instruments either issued by the portfolio company or acquired in a secondary transaction; ii) secured or unsecured loans granted to a portfolio company (subject to a 30% cap on commitments being used for this purpose); or iii) units or shares in other EuVECA funds provided that they don’t in turn invest more than 10% in other funds. It is necessary to lay down a common framework of rules regarding the use of the designation ‘EuVECA’ for qualifying venture capital funds, in particular the composition of the portfolio of funds that operate under that designation, their eligible investment targets, the investment tools they may employ and the categories of investors that are eligible to invest in them by uniform rules in the Union. “Qualifying investments” are: i) equity or quasi-equity instruments either issued by the portfolio company or acquired in a secondary transaction; ii) secured or unsecured loans granted to a portfolio company (subject to a 30% cap on commitments being used for this purpose); or iii) units or shares in other EuVECA funds provided that they don’t in turn invest more than 10% in other funds. Se hela listan på ec.europa.eu (iv) the non-qualifying investments which it intends to make; (v) the techniques that it intends to employ; and (vi) any applicable investment restrictions. (d) a description of the risk profile of the EuVECA fund and any risks associated with the assets in which the EuVECA fund may invest or investment techniques that may be employed; If you are a manager wishing to use the EuVECA label for a fund, you will have to demonstrate that a high percentage of investments in the fund (70% of the capital received from investors) is invested in small and medium sized enterprises that meet the definition of a qualifying portfolio undertaking as per article 3 of Regulation 2017/1991. The EuVECA regulatory framework This Practice Note provides an overview of the European Venture Capital Funds Regulation (EU) 345/2013 (the EuVECA Regulation) as amended by Regulation (EU) 2017/1991.
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The EuVECA Regulation is a specialist alternative investment fund (AIF) regime available to alternative investment fund managers (AIFMs) under the Alternative Investment Fund Managers Directive (2011/61/EU) (AIFMD). investment undertakings as qualifying or non-qualifying. The fund shall at all times have a certain percentage of qualifying investments in its portfolio, which is expressly stated in the regulation. The regulation has however not been applied to its intended extent. To date, there are only 45 registered EuVECA funds throughout the EU, six of which Qualifying investments.

Regime means that PE investors who elect Luxembourg as a domicile will all qualify as investment companies. wish to use the designation "EuVECA" in relation to the marketing of qualifying venture capital funds in the European Union;. Suppliment tal-Gazzetta tal-Gvern information about the AIF's investment strategies, including the types of underlying as a EuSEF or EuVECA manager will allow firms to market qualifying social May 22, 2019 any person who controls or is controlled by that EuVECA manager, by another qualifying venture capital fund or collective investment undertaking of alternative investment funds are managing an AIF, managing investments and defined in the EuVECA Regulation are met, managers of qualifying. investment management services in a third country.
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EuVECA definition • "Qualifying investments" are equity, or quasi equity instruments, secured or unsecured loans granted to a “qualifying portfolio undertaking”, shares of a qualifying portfolio undertaking and units or shares in other EuVECAs. • A “qualifying portfolio undertaking includes a company that is:

An EuVECA fund must invest at least 70% of its capital contributions and uncalled capital in “qualifying investments”. “Qualifying investments”, in turn, are: While both the EuVECA and EuSEF regulations and hence registrations are voluntary and not mandatory they in many cases provide the only opportunity for EU-based smaller managers of qualifying venture capital and/or social entrepreneurship funds to market these funds cross-border to European professional and semi-professional1 investors.

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Sturgeon Ventures shares the growth of the EuVeca Regime and the hidden jewel of Venture capital investment provides finance to start-ups and early stage Fund” label that qualifying funds supporting young and innovative companies

The European Venture Capital Fund (EuVECA) Regulation offers a voluntary EU-wide marketing passport to qualifying fund managers, while sparing them the costs associated with authorisation and compliance with the AIFMD, such as the requirement to appoint a depositary. Qualifying investments are equity or quasi-equity instruments in qualifying portfolio companies (see below) as well as (to a limited extend) shareholder loans to qualifying portfolio companies. The quasi-equity instruments can be acquired by new issuance or exchange of shares as well as acquisition of existing shares. Qualifying investments under EuVECA has been developed further since 2013. Quite large and established companies may be included in the 70 % of committed capital which must be invested in “qualifying investments”, this is not a “venture-only regulation”.