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Welcome to our third edition of Inform: Venture Capital, a publication which focuses on news, comment and legal updates in the venture capital sector.
We are now firmly settled into 2010 and activity in the VC sector remains weak. Those early stage companies looking for investment are increasingly having to improve their marketability by having a clear strategy, supportable business plans and good management with experience.
Whilst the business angel community is growing stronger, syndicating deals and moving up the value chain the VCs are either shutting up shop and heading West or shoring up their existing portfolios. The various Government initiatives have started to gain momentum which will hopefully sustain the emerging growth in the SME sector. If the privately backed growth capital fund called for by the Rowlands Report (published November 2009) can gather sufficient interest from institutions then there may be a silver lining to the black cloud currently hanging over the world of SME financing.
I hope that you enjoy this issue.
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AIFM Directive update
In our first edition of VC Inform, we featured an article on the draft Directive on Alternative Investment Fund Managers (the AIFM Directive) published on 30 April 2009 by the European Commission in response to calls for greater Europe-wide regulation of investment fund managers. ..read more |
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UKIIF update
We reported in our last edition of VC Inform on the appointment of Hermes Private Equity and the European Investment Fund as the fund of fund managers allocated funding by the UK Government as part of the UK Innovation Investment Fund (UKIIF). ..read more |
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VC funding shortage for cleantech companies
The UK is aiming to cut its emissions by at least 80% by 2050. One of the many barriers to reaching this carbon target is the large equity gap encountered by early-stage cleantech companies which has been revealed by recent research carried out by the Carbon Trust and New Energy Finance...read more
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Speechly Bircham LLP is a limited liability partnership registered in England and Wales (registered number OC321620) and is regulated by the Solicitors Regulation Authority. A list of members' names is open to inspection at our registered office, 6 New Street Square, London EC4A 3LX
This information is correct to the best of our knowledge and belief at the time of going to press. It is, however, written as a general guide, so we recommend that specific professional advice is sought before any action is taken.
Speechly Bircham LLP 6 New Street Square, London EC4A 3LX
Tel +44 (0)20 7427 6400 Fax +44 (0)20 7427 6600
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