From Aug 1., it will be possible to establish European venture funds in Norway. An EU directive has forced a change in the Alternative Investment Fund (AIF) law, which makes it possible to establish European venture funds (EuVECA), social entrepreneurship funds (EuSEF) and long-term funds (ELTIF) in Norway.
"We are very happy that this is being introduced. We have been waiting for the rules to change for over five years, and now it has happened a bit out of the blue. I was a bit surprised that something was being done now," says CEO of the Norwegian venture capital association Ellen Amalie Vold.
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