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Clifford Chance

Clifford Chance


The U.S. menu of early-stage capital‑raising options – Lessons for the European commission

19 June 2015

The European Commission, in its green paper dated February 18, 2015, announced the “need to build a true single market for capital – a Capital Markets Union for all 28 Member States.” One of the goals of the Capital Markets Union is to unlock more investment for small and medium sized enterprises (“SMEs”). SMEs are Europe’s equivalent to startups and small businesses in the United States.
At present, small businesses in Europe receive five times less funding from the capital markets than their American counterparts. So, the European Commission is looking for feedback from those who work in capital markets and others to develop an action plan to, among other things, make it easier for SMEs to raise funding and reach investors cross border.

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