Lawson Conner wins EU passport for VC funds
September 21, 2017 - Firm News
Move solidifies London’s position as Europe’s leading VC and tech investment hub, despite concerns over Brexit
London September 6th: Lawson Conner, the investment manager platform, today announces that it has been awarded the coveted EuVECA designation, from the European Securities and Markets Authority (ESMA). This designation means that UK venture capital funds that use its platform, can now have unfettered access to European-based investors.
The EuVECA regulation allows venture capitalists to market their funds to investors across the EU through a voluntary EU-wide passport without having to meet all the demands of the AIFM Directive.
“We are extremely excited to be one of the very first UK platforms to win a EuVECA designation,” says Andrew Frost, Director, Investment Management Solutions at Lawson Conner in London. “We can now help those VC funds that want to market their funds to European investors meet all the necessary compliance obligations, without having to do it in house.”
According to Invest Europe, venture capital fund raising grew to a post-crisis record of €6.4 billion in 2016. These VC funds collectively invested €4.3 billion in over 3,000 companies.i “Taking advantage of the EuVECA designation will allow UK VC funds to tap into a huge pool of institutional capital,” says Frost.
Lawson Conner is in the process of helping its VC clients take advantage of its EuVECA designation. firstminute Capital, a new $85 million VC seed fund has appointed Lawson Conner to act for it. “We aspire to be the most helpful seed fund in Europe,” says Spencer Crawley, Head of Investments and General Partner at firstminute Capital in London. “It is important for us to be able to market our business to European investors quickly. By appointing Lawson Conner, we have saved having to undertake the regulatory process in-house. This means it has been a much speedier and cost-effective process.”
For more information, please contact Gerhard Grueter
Tel: +44 (0) 203 696 1302