EuSEF and EuVECA managers - Financial Conduct Authority

Registering as a EuSEF or EuVECA manager

Last Modified: 18/02/2015
We have published forms for fund managers to register as European Social Entrepreneurship Fund managers (EuSEF managers), European Venture Capital fund managers (EuVECA managers) and for those managers to notify the FCA of the persons who conduct their business.

We have produced a fact sheet to provide help in answering questions concerning previous convictions.  

Firms seeking EuSEF or EuVECA registration will also need to complete the EuSEF & EuVECA tab on the following spreadsheet:

Registering as a EuSEF or EuVECA manager will allow firms to market qualifying social entrepreneurship funds and qualifying venture capital funds throughout the EU to certain categories of investors under the EuSEF and EuVECA ‘label’. Registration as a EuSEF or EuVECA manager is only available to managers that have assets under management below the threshold in Article 3(2)(b) of AIFMD.

To use the EuSEF label for a fund, the manager will have to demonstrate that a high percentage of investments in the fund (70% of the capital received from investors) is invested in undertakings whose primary objective is to achieve measurable, positive social impacts. 

To use the EuVECA label for a fund the manager will have to demonstrate that a high percentage of investments in the fund (70% of the capital received from investors) is invested in small and medium sized enterprises.

Other conditions also apply for both types of fund.

The central database of managers of Social Entrepreneurship Funds (EuSEF) and European Venture Capital Funds (EuVECA) registered in the Member States of the EU can be found on the ESMA website.

Completing and submitting your applications

To help process your applications we ask for:

  • electronic versions of all forms and supporting documentation;
  • a signed paper copy of the form

You should complete all sections of each form, using ‘N/A’ where appropriate. Answers should be clear, concise and accurately reference the relevant parts of any supporting documents. 

Please submit your forms, together with supporting documents, in a zip file or a file structure that allows us to easily identify the contents. Please note that our mailbox servers will not accept any emails larger than 35mb. If the email exceeds this, please split it and send it as multiple emails.

All file names should begin with your firm’s FRN (or firm name for new applications), followed by the form and/or document title.  Clear and simple labelling will help us assess your application and reduce delays.

How to submit your data securely

Please submit your completed application to: AIFMDAuthorisations@fca.org.uk.

The subject line of your email should contain your FRN (or firm name for new applications) followed by the words ‘AIFMD EuSEF/EuVECA Application’.

You must send your data encrypted, by using either our PGP Key (preferable) or a password protected WinZip file.

You can also provide the data on a CD or USB (password protected – we will request the password when we receive the application).

If you have any queries regarding the secure submission of your data, please contact us, including ‘AIFMD’ in the subject line if you choose to email us.