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, …

“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 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.

Euveca qualifying investments

(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. 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.

“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. 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.

Qualifying Venture Capital Fund: A qualifying venture capital fund is an alternative investment fund that is established in an EU member state and intends to invest at least 70% of its aggregate capital contributions and uncalled committed capital in qualifying investments within a

(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.

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 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. Any investment vehicle that qualifies as an AIF is eligible to apply for and obtain the ELTIF label. 1 Regulation (EU) 2015/760 of 29 April 2015 on European long-term investment funds.

Jan 1, 2020 Capital Funds (EuVECA). Regime means that PE investors who elect Luxembourg as a domicile will all qualify as investment companies.
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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 uniform requirements and conditions for managers of collective investment undertakings that wish to use in the Union the „EuVECA“ or „EuSEF“ designations for the marketing of qualifying venture capital funds and qualifying social entrepreneurship funds.

expand the range of qualifying investments permitted under the EuVECA Regulation to allow investment in small mid-cap and small and medium sized enterprises listed on SME growth markets. The definition of qualifying undertakings will also be altered to allow investments into undertakings that have up to 499 employees; and 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 The fund shall at all times have a certain percentage of qualifying investments in its portfolio, which is expressly stated in the regulation.
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The European venture capital funds (EuVECA) regulation covers a subcategory of alternative investment schemes that focus on start-ups and early stage companies. Venture capital investment is an important source of long-term financing to young and innovative companies. European social entrepreneurship funds

To date, there are only 45 registered EuVECA funds throughout the EU, six of which 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.

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There is no set minimum level of investment that may qualify for E-2 status, but the lower the investment the less likely one is to qualify. Again, the level of

uniform requirements and conditions for managers of collective investment undertakings that wish to use in the Union the „EuVECA“ or „EuSEF“ designations for the marketing of qualifying venture capital funds and qualifying social entrepreneurship funds. Regulation investments in the above qualifying undertakings. The Regulation further specifies that the investments should be in the form of equity and quasi equity instruments, i.e.