Gugushev & Partners has advised Alfastar Ventures on the registration of a Bulgarian EuVECA alternative investment funds manager.
"The alternative investment funds manager specializes in early-stage venture capital investment, without having a termination date," Gugushev & Partners informed. "The above registration is a significant milestone that is expected to bolster the growing start-up ecosystem in Bulgaria and the region."
"The first evergreen EuVECA fund in the country follows EU Regulation №345/2013," the firm reported. "EuVECA funds can invest in unlisted companies with up to 499 employees and small and medium enterprises listed on an SME growth market. A significant advantage of the EuVECA label is that it enables managers to market their EuVECA funds not only to professional investors but also to high-net-worth individuals investing a minimum of EUR 100,000," while also making cross-border investment more accessible.