Cottonwood Technology Fund receives European EuVECA label
The European Venture Capital Fund (EuVECA) Regulation offers a voluntary EU-wide marketing passport to qualifying fund managers, while sparing them the costs associated with authorisation and compliance with the AIFMD, such as the requirement to appoint a depositary. While developed originally to facilitate cross-border fundraising by small venture capital managers, the EuVECA label has been available to fund managers of all sizes, including AIFMD-authorised private equity fund managers, since 2018. The recent review, which sought to encourage greater take-up of the label, also led to a number of other improvements to the regime.
The label is only issued by the Dutch Authority for the Financial Markets (shortened: AFM) when an investment fund and its managers can meet a specific set of quality requirements and ongoing obligations.
On the 2nd of November 2020 Cottonwood is granted the EuVECA label by the AFM. With the EuVECA label in place, Cottonwood Technology Fund can offer institutional investors in any of the member states of the European Union the opportunity to invest in Cottonwood Technology Fund III.