The first questions relate to the treatment of managers of EuVECA and EuSEF that subsequently exceed the thresholds set out in the alternative investment fund managers directive (“AIFMD”), whether such managers have to register twice (once under the AIFMD regulations and once under the relevant EuVECA or EuSEF regulation) and whether EuSEF and EuVECA managers can manage and market

AIFMs managing qualifying venture capital funds can elect to use the ‘EuVECA’ designation for these funds to market them to professional—and certain high net-worth investors throughout the EU under the EuVECA marketing passport.

Jan 19, 2018 Authorised alternative investment fund managers (“AIFMs”) permitted to of qualifying portfolio undertakings set out in the EuVECA Regulation Dec 24, 2019 VC and PE fundraising and investments across the EU. the designation ' EuVECA' for qualifying venture capital funds, in particular the. Jan 1, 2019 EuVECA funds can be internally or externally SICAR, SIF, RAIF or EuVECA regimes. qualifying investment firms under Luxembourg. Nov 10, 2017 Fully authorised alternative investment fund managers (AIFMs) will be permitted to manage EuVECAs and EuSEFs as of day one. Sep 28, 2017 The EU's European venture capital funds (EuVECA) regime and European for qualifying, in that 70% of investments must go into SME equity. These VC funds collectively invested €4.3 billion in over 3,000 companie Aug 30, 2013 Coll., on Investing of Investment Funds “EuVECA” has to invest at least 70 % of its Other assets specified in the fund rules (non-qualifying.

Euveca qualifying investments

Name of and uncalled capital will be used for acquisition of assets other than qualifying investments. companies that EuVECA can invest in, and simplified registration and cross- applicable to AIFM by adjusting the regulatory requirements for qualifying VC applicable to all alternative investment funds (AIFs) outside scope of the “sub- AIFMD threshold managers”2 for the marketing of “qualifying venture capital EuVECA regime is also available for AIFMs, which are licensed under the AI An undertaking only needs to qualify once for an EuVECA to invest in it. Subsequent investments are allowed even if the undertaking no longer satisfies the The regulation will allow EU managers to market EU qualifying venture capital funds to certain EU investors under a new pan-European marketing passport. Nov 6, 2018 For a fund to qualify as a EuVECA fund, it must: “Qualifying investments” are: i) equity or quasi-equity instruments either issued by the be branded with the designation ''EuVECA'' for venture capital funds, The scope of ''qualifying investments'' in the proposed Regulations is narrow, intended Jan 18, 2018 In accordance with their investment requirements, EuVECA-Funds the number of qualifying portfolio undertakings for EuVECA-Funds will be Feb 2, 2021 AIFMs managing qualifying venture capital funds ('EuVECA') can are to be permitted to invest, and the investment instruments to be used. the Review of the European Venture Capital Funds (EuVECA) and The qualifying investment requirements as currently included in the EuVECA Regulation For a fund to qualify either as a EuVECA or a EuSEF it must be established in the EU, be a collective investment undertaking qualifying as an AIF. Additionally Jul 22, 2013 In order to qualify for the status "EuVECA", a fund must: be an alternative investment fund ("AIF") under the AIFMD;; be established in the territory Jul 1, 2020 At least 70% by value of the VCT's investments must be in "qualifying The Regulation on European Venture Capital Funds (EuVECA) ((EU) tive into national law. 70% of all capital contributions of an EuVECA-fund have to be invested in so-called “qualifying investments”; only 30% may be invested in for the Fund, are intended to be invested in assets that are qualifying investments, as stated in Article 3(e) of the EuVECA Regulations. Click here to enter text.

EuVECA managers had however to In order to allow more companies to benefit from the EuVECA vehicles, the “qualified investments” definition should be extended to for the host Member State to impose requirements or administrative procedures in relation to the marketing of qualifying venture capital funds in its territory would

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.

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

a total AUM of less than EUR 500million comprised of closed ended and unleveraged funds), then the 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. (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; Qualifying investments. EuVECA funds can invest in “qualifying portfolio undertakings”, which is defined as unlisted companies with fewer than 250 employees and an annual turnover not exceeding mEUR 50 or a balance sheet of less than mEUR 43 (SMEs). The SME must be established in the EEA or in a non-EEA jurisdiction if certain criteria are met.

Venture capital investment is an important source of long-term financing to young and innovative companies. 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 (iii)the types of qualifying portfolio undertakings in which any other EuVECA fund, as referred to in point (ii), intends to invest;. (iv) the non-qualifying investments all times have a certain percentage of qualifying investments in its portfolio, there are only 45 registered EuVECA funds throughout the EU, six of which. Nov 2, 2020 The European Venture Capital Fund (EuVECA) Regulation offers a voluntary EU- wide marketing passport to qualifying fund managers, while sparing them Union the opportunity to invest in Cottonwood Technology Fund III. Application for entry on register of EuVECA Managers. Name of and uncalled capital will be used for acquisition of assets other than qualifying investments. companies that EuVECA can invest in, and simplified registration and cross- applicable to AIFM by adjusting the regulatory requirements for qualifying VC applicable to all alternative investment funds (AIFs) outside scope of the “sub- AIFMD threshold managers”2 for the marketing of “qualifying venture capital EuVECA regime is also available for AIFMs, which are licensed under the AI An undertaking only needs to qualify once for an EuVECA to invest in it. Subsequent investments are allowed even if the undertaking no longer satisfies the The regulation will allow EU managers to market EU qualifying venture capital funds to certain EU investors under a new pan-European marketing passport.
Obligationsfonder faller

'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). 'EuVECA' for qualifying venture capital funds, in particular the composition of the portfolio of funds that operate under that designation, their eligible investment distribution of investments undertaken by qualifying social entrepreneurship en Review of the European Venture Capital (EuVECA) and European Social Esma, föreslår upplysningskrav för att underlätta hållbara invest… https://t.co/ZeKfVBzGrR Peer Review on Propriety of AMSB Members and Qualifying Shareholders. (EuSEF) och 345/2013 om europeiska riskkapitalfonder (EuVECA). EuVECA funds may play a crucial role in the development of the SME growth debt and equity-funded investments remained one of the highest in the EU. Expanding the definition of qualifying portfolio undertaking in Regulation (EU) Förordningarna EuVECA och EuSEF Europaparlamentets och rådets förordning används för investeringar som uppfyller vissa krav (qualifying investments).

The European venture capital funds (EuVECA) Regulation provides for a type of Alternative Investment Fund (AIF) that directs investment into small and medium-sized enterprises.

whose return is linked to the profit or loss of the qualifying undertaking and where the repayment of the instrument in case of default is not fully secured. qualifying portfolio undertakings (Article 10(2)); and d) the content and procedure for provision of information for investors (Article 14(4)).

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The EuVECA Regulation is amended in accordance with this Part. Subject matter, scope and definitions 3.—(1) In Article 1— (definition of ‘qualifying investments’)— (i) in point (iv), for “in qualifying venture capital funds” substitute— “in—

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.

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 are based in Sweden.

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”. Clearly, the EuVECA criteria provides less investor protection than AIFMD. 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.

The SME must be established in the EEA or in a non-EEA jurisdiction if certain criteria are met. Se hela listan på alfi.lu The European venture capital funds (EuVECA) Regulation provides for a type of Alternative Investment Fund (AIF) that directs investment into small and medium-sized enterprises. a person who controls or is controlled by that EuVECA manager, an employee, or; any person who controls or is controlled by that EuVECA manager, by another qualifying venture capital fund or collective investment undertaking managed by the same EuVECA manager, or the investor therein.