Delivering news, insights and free legal documents to players in the Danish venture capital and private equity industry.
ESMA has launched a consultation on guidelines on marketing communications under the cross border distribution of funds regulation.AIFMD
As of 1 January 2021 a new employee share scheme applies. This new employee scheme entails that certain new and small companies can award employees with shares, options and warrants up to 50% of the employee's annual salary while the employee will be subject to taxation as share income (up to 42% taxation) instead of personal income (up to approx. 55% taxation).
On 23 October 2020, the Danish Tax Agency published a ruling from the Danish National Tax Board regarding taxation of a SAFE (Simple Agreement for Future Equity) issuable by a US company.Cross-BorderVenture Capital
EU and non-EU AIFMs submitting an application for marketing of non-EU AIFs to professional investors in Denmark will be subject to new requirements. The Danish FSA has issued a new Executive Order, which enters into force on 1 January 2021.AIFMD
On 22 October 2020, the European Commission published its consultation on the review of the AIFMD seeking the views from stakeholders on how to achieve a more effective and efficient functioning of the European AIF market.AIFMDAIFMD review
On 19 October 2020, the European Commission launched a public consultation on the European Long Term Investment Fund (“ELTIF”) legal framework.AIFMDAIFMD review
The Commission has completed a public consultation on the proposal for a EU Green Bond Standard. The consultation proposes to use the EU Taxonomy to define green bonds.AIFMDSustainability
What impact is the ongoing situation having on the terms VCs offer to founders? Have the terms shifted in favor of the investors and will we be seeing less founder-friendly term sheets compared to what we’ve seen in recent years going forward?covid19
Based on discussions with founders, fund managers, business angels and other players in the Danish startup ecosystem, we have conducted a small analysis on fundraising trends in the light of COVID-19 as well an analysis on the existing support packages with a specific focus on the startup ecosystem.covid19