EVCA proposed new structure to give national bodies more influence

The European Venture Capital Association (EVCA) is reforming its structures to allow national associations more access to the European stage in Brussels, and at the same time give the ECVA greater access to national politicians.

The new framework for collaborative working between ECVA and national bodies was presented to the association’s general meeting last week.

The aim is to create a structure that integrates the views and political clout of national associations, and their co-financing capabilities, with the EVCA’s existing public affairs effort.

A new European Representative Group will act as a policy forum for the national associations, enabling them to present a single view to the executive body of the EVCA. As a result, it is hoped that EVCA communications with politician in Brussels will be seen as representing the industry across Europe as a whole.

Following the presentation last week, a new charter is now being drawn up for approval at an extraordinary general meeting in the autumn.

Meanwhile, figures released by the EVCA on Tuesday show that private equity investments in Europe fell by 28 per cent to €54 billion in 2008.

However, early-stage venture capital funding was unaffected by the economic crisis, with a 15 per cent increase in the number and a 7 per cent increase in the value of seed and start-up financing. The number of closed VC funds was 44, up from 35 in 2007.

In total, more that 5,400 European companies received funding from private equity investors in 2008, the third best year on record.

Javier Echarri, EVCA General Secretary, said, “The resilience of the early stage VC market is encouraging news for the long-term health of Europe’s young innovative companies.”