English and Luxembourg venture capital funds: Key features
Andrew Wylie (Partner and Head of Investment Funds, International) has recently co-written a practice note “English and Luxembourg venture capital funds: Key features” published on Thomson Reuters Practical Law on 6 October 2020 and reproduced here with permission from the publisher.
Venture capital funds are a significant source of capital for private early stage and growth companies in the United States of America and, increasingly, in the United Kingdom and many continental European jurisdictions. Over the last quarter of a century, as the US venture capital model has become more familiar and investment opportunities for funds more readily apparent, the European investor base has grown considerably and venture capital is now recognised in Europe as an important alternative asset class in its own right.
This practice note provides an overview of the basic structure of a typical venture capital fund, highlights some differences between English and Luxembourg venture capital funds and outlines some of the UK and Luxembourg issues involved in forming and marketing a venture capital fund.
This practice note addresses certain aspects of Scottish limited partnerships. The laws that govern limited partnerships formed under the laws of the British Virgin Islands, the Cayman Islands, Guernsey or Jersey fall outside the scope of this note.
