Regulatory Alerts2026-04-24
Austrian Federal Act on Venture Capital Funds (WKFG)
The Austrian Federal Act on Venture Capital Funds establishes a regulatory framework for venture capital funds (VCFs) structured as stock companies (WK-AG) managed by authorized Alternative Investment Fund Managers. It mandates strict conditions for fund establishment, including a five-to-twenty-year lifespan, closed-ended structure, and specific investment restrictions focused on unlisted equity and participating interests. The legislation further defines governance requirements for management and supervisory boards, asset segregation rules for sub-pools, and the supervisory authority of the Financial Market Authority (FMA) over distribution and compliance.
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