Manifesto for a stronger, greener and more innovative, more equitable and inclusive Europe

In a context of severe constraints on public spending, resulting in particular from the sanitary and energy crises, and on bank lending, as well as a challenging macro-economic and geopolitical outlook, unlocking the full potential of the EU venture capital, private equity, infrastructure and private debt (VC/PE) sector is essential for the mobilization of much-needed private and patient capital into our economy as it can contribute to build:

• a stronger Europe in the world, by fostering Europe’s economic growth, competitiveness and and industrial sovereignty;
• a greener and more innovative Europe, environmentally sustainable and fit for the digital age, by supporting businesses to complete their twin green and digital transition;
• a more equitable and inclusive Europe, where people can benefit more in the value that VC/PE generates and where diversity, equity and inclusion are more widely adopted.
• Some initiatives undertaken under the current mandate, such as the review of the AIFMD and the ELTIF Regulation, have been helpful, but much more can and should be done to further incentivise and remove barriers to European VC/PE deploying its full capacity.

Initiatives are needed at all levels of the VC/PE value chain to improve the environment and make the EU more attractive and competitive for businesses, investors and employees. Supported by a legislative and regulatory framework that is clear, harmonized, and provides the appropriate incentives towards the green and digital transitions and complemented by proposals to encourage value sharing.

As a leader in Europe in terms of fund raised and invested and number of companies and projects funded which positively impact growth and jobs, French VC/PE actors are particularly well placed to make the following 16 recommendations to unleash the potential of VC/PE actors across Europe.