Regulatory Alerts2026-04-24
Venture Capital Funds Act (WKFG)
The Austrian Federal Act on Venture Capital Funds establishes a regulatory framework for venture capital funds (VCFs) structured as stock companies known as WK-AGs. It mandates that these funds be managed by authorized Alternative Investment Fund Managers and restricts investments to unlisted shares, partnerships, and specific debt instruments while requiring a lifespan of five to twenty years. The legislation further defines governance requirements, including supervisory board oversight, depositary appointments, and strict rules for asset segregation and distribution to professional or qualified retail investors.
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