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Proposed modification to the EuVECA and EuSEF regulations

On 14 July 2016, the European Commission proposed modifications to the regulations on European Venture Capital Funds (EuVECA) and European Social Entrepreneurship Funds (EuSEF), thus marking a new stage towards the creation of the union of the capital markets.

The proposal presented aims to:

  • Broaden the range of managers eligible to market and manage EuVECA and EuSEF funds in order to include bigger fund managers, namely those managing assets of an amount over 500 million euros;
  • Broaden the range of assets eligible for the EuVECA funds in order to enable investments in small companies of intermediate size and in SMEs listed on growth markets;
  • Reduce costs by explicitly prohibiting the competent authorities of the home Member States from imposing costs, by simplifying the registration procedures, and by determining the minimum capital necessary to become a manager.
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