Regulation amending the European Venture Capital Fund (EuVECA) and European Social Entrepreneurship (EuSEF) Fund regulations

Key points:

• The EESC welcomes and supports the European Commission's initiative to anticipate the review of the Regulations on European venture capital funds (EuVECA) and European social entrepreneurship funds (EuSEF).
• The EESC believes that such an regulation can reduce the danger of different interpretations at national level, thus promoting the establishment of a capital markets union.
• The EESC points out that at EU level there are now a large number of financing sources and therefore the Committee expects closer coordination with the existing sources regarding the new direction of EuVECA and EuSEF. It should be ensured that the hitherto very restrictive access criteria, as well as other restrictive conditions, are significantly relaxed by the Commission.
• In order to expand participation in such investment funds, the EESC proposes to increase the involvement of non-institutional investors.
• Finally, the EESC considers it equally important to create an environment in which the financing objectives of social investment funds, such as Social Enterprises (SE) and Social Sector Organisations (SSO), can develop.