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2020 Highlights video
2020 was a year unlike any other, full of challenges at the personal, professional and economic level. For Invest Europe, it was a year in which we remained focused and made substantial progress towards our goal of putting members at the heart of our association.
Marking a Milestone
Eric de Montgolfier, CEO
The very first newsletters were exchanged between officials and friends in ancient Rome, in a bid to share news and gain insight. The past millennia have done little to age this primary objective, or sense of cooperation through knowledge exchange. If you know, and I know, what we know carries even greater weight. Doesn’t it?
And so, with a little fanfare, Invest Europe is proud to present you with edition #52 of our newsletter – marking a calendar year-worth of news, insights and exchange within the European private equity and venture capital industry and the society and economy it operates within.
As we develop stakeholders’ perception and understanding of the contribution our industry makes to both European companies and employees alike, it is critical that we share ever more amongst ourselves. Not just news from our corner, but about all of us here in Europe, as we make progress in battling the pandemic and position ourselves for the recovery to follow.
Always in a bid to inform and inspire our members, Invest Europe’s newsletter brings you the latest from our secretariat’s work across the areas of Public Affairs, Research, Events, Online Training, Communications, Governance, and Industry Standards. Beyond that, we provide insights from and about our members, NVCAs across Europe and third-parties, including media coverage.
We’ve outlined below a 12-step journey through 52 editions of the Invest Europe newsletter - which we hope you enjoy!
We’d conclude by asking two things of you: the first is that you please proactively share our newsletters with your colleagues: news is only effective when shared. The second will take no more than 2 minutes of your time, in the form of a short survey of how you see and use the newsletter and suggestions for the continuous improvement we all seek.
Thanks for your time and for spreading the word!
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#goodstories: sharing positive actions during Covid-19
Issue #3 - 9 April 2020
As the COVID-19 crisis continues to grow, private equity and venture capital firms and their portfolio companies are responding with measures to help individuals and communities tackle both the health threats and economic challenges the virus poses. This week we launched our new social media campaign to draw attention to the positive actions being taken by the industry across Europe.
Invest Europe’s campaign will reach an audience of almost 12,500 Invest Europe followers on LinkedIn and 45,000 on Twitter.
You can get involved by liking, forwarding, or commenting on our posts on social media.
If you have a story to share, please get in touch.
The #goodstories digital initiative has been recognised no less than 4 times for its digital excellence in the 5th edition of the Cambre Associates European Associations Digital Report 2020.
Companies signing up fast to access our online resources
Issue #6 - 30 April 2020
Invest Europe has extended its online information to member-backed companies during the crisis. Through GPs across the VC, MM and LBO platforms, we’ve given access to over 350 portfolio companies in just one week.
With more than 230 articles, our daily updated COVID-19 library of resources combines essential information on the business support schemes across Europe with an extensive catalogue of reports providing critical insight on the impact of the coronavirus.
Our exclusive member guide on liquidity programmes in 19 jurisdictions now features the latest details on the Coronavirus Business Interruption Loan Scheme (CBILS) and the creation of the Future Fund for startups in the UK, plus a recent Danish case study.
If you would like your portfolio to benefit from this guidance, please get in touch.
IPEV Valuation Guidelines training
Issue #12 - 19 June 2020
Practical examples, discussion of case studies, and day-to-day challenges focused on understanding and applying the International Private Equity and Venture Capital Valuation Guidelines.
New Guide to Cross-Border Distribution of Investment Funds
Issue #13 - 26 June 2020
With the stated aim of strengthening capital markets, the EU’s new CBDF framework aims to reduce barriers for investment managers marketing funds across the EU, and improve harmonisation.
The new rules will apply across the spectrum of Invest Europe members, including those subject to AIFMD, EuVECA and EuSEF, and European Long-Term Investment Funds (ELTIFs).
We have prepared a member-only guide answering all of your questions on this important new piece of legislation.
Employment and job creation across Europe
Issue #25 - 18 September 2020
A total of 10.5 million people were employed at 22,659 private equity backed businesses in Europe at the end of 2018 – the first full year analysed in the new research. The figure represents 4.5% of the continent’s active workforce and equates to more than the entire population of Greece.
Companies supported by Invest Europe members created 173,124 net jobs in the 2017-2018 period, increasing employment levels 5 times faster than the European average.
The research presents a transparent account of European private equity’s record on employment and job creation just as businesses across the continent seek to bounce back from the economic impact of the COVID-19 crisis.
It also provides crucial context and understanding for key stakeholders, as Invest Europe continues to represent and advocate for its members in Brussels, and beyond, for the shorter-term liquidity and longer-term regulatory support that businesses need.
We thank you for your help in providing the data that is the foundation of this report and ask for your assistance in broadening the scope of that research in coming years.
Follow our campaign on LinkedIn and Twitter & spread the message within your network.
Private Equity at Work research report (published September 2020)
Invest Europe Research
Invest Europe provides, for the first time, detailed evidence and analysis of the European private equity industry’s contribution to employment, in 2018, and job creation, in 2017-18, in Europe.
EPER becomes Invest Europe's Global Private Equity Platform (GPE)
Issue #34 - 20 November 2020
The decision to proceed with the EPER integration, named the Global Private Equity Platform, was voted unanimously by both the Invest Europe and EPER Boards and approved during the 12 November Extraordinary General Meetings of both bodies.
As a fully integrated platform of Invest Europe, the new GPE Platform and its global private equity members can now work more closely with all of our constituencies.
Invest Europe has, in the course of this transition, united all private equity market participants, which reinforces its position as the sole representative of the entire European private equity ecosystem.
We thank the EPER board of directors for the excellent co-operation during this transition!
Foundation for VC Investment Professionals training
Issue #35 - 27 November 2020
This online training is designed for early-career practitioners, offering an overview of the different milestones and processes in venture capital investment.
Speakers:
- Bryan Wood, Founder & Partner, Alta Berkley
- Christian Schneider, Managing Partner, Vesalius Biocapital
- Christian Patze, Associate, Performance Materials Fund, Merck
- Cyril Demaria, Consultant, Invest Europe
- Daniel Muzyka, Dean and Professor Emeritus, UBC Sauder School
- Gabrielle Joseph, Head of Due Diligence & Client Development, Rede Partners
- Martin Frey, Partner, Baker McKenzie Zürich
Brexit: the beginning of a beautiful friendship?
Issue #39 - 8 January 2021
After 4 years and a half of intense negotiations, the UK is now officially a 'third country' and hence no longer obliged to follow EU law. Invest Europe and the BVCA, both committed to maintaining the ability of GPs and LPs to operate cross-border, prepared a joint statement commenting on the multilateral memorandum of understanding (MMoU) published on Monday by ESMA and the FCA. The MMoU details how both authorities will coordinate in the future.
While, with the BVCA, we welcomed that the cooperation agreement does not restrict the ability of our members to use cross-border arrangements, we do expect the European Commission to further consider whether additional rules on delegation will be needed in the near future and for this to possibly impact considerations on an AIFMD review.
If you have any concerns about the impact Brexit may have on your fundraising, investments or portfolio management, you can listen back to our latest policy call which covered the implications of the end of the transition period in details.
Brexit Q&A
Invest Europe
A Q&A document addressing the potential implications of the UK leaving the EU for private equity firms, their investors and their portfolio companies.
Portfolio Valuations: measuring water with a rubber-band?
Issue #39 - 8 January 2021
Portfolio valuations remain a top-of-mind issue for PE/VC managers during the ongoing global Covid-19 pandemic and particularly at this time of the year when investor reporting is due.
At the end of 2020, the IPEV Board reiterated the applicability of the Special Guidance provided in March 2020 with respect to applying the IPEV Valuation Guidelines when estimating fair value at 31 December 2020.
Download Special Valuation Guidance
The key question that fair value measurement seeks to answer is: What price would an informed buyer pay, in an orderly transaction, for the investment at the measurement date (in this case, at 31 December 2020)? Answering this question continues to require informed judgement.
The recording of Invest Europe’s members call on this topic can also be accessed here.
Exclusive to members: Transaction value report
Issue #40 - 15 January 2021
Invest Europe's first 'Transaction value' report offers you a brand new analysis on Venture and Buyout statistics. It looks at the transaction value* of Venture-backed and Buyout investments, including equity provided by the fund, co-investments, and leverage.
This new report represents the achievement of a tremendous work done by Invest Europe on the entire historical dataset, from 2007 to 2019, with two different methodologies to best capture all capital that is allocated to a company via a Venture Capital or a Buyout investment.
* The transaction value is defined as the sum of the amount invested by the Venture Capital or Buyout fund, the amount invested by co-investors, and the leverage provided by banks or other sources, if applicable.
Transaction value analysis 2007-2019
Invest Europe Research
Brand new analysis of Venture and Buyout statistics, looking at the transaction value of Venture-backed and Buyout investments.
Launched: Private Equity in CEE report
Issue #44 - 12 February 2021
'Private Equity in CEE' is an in-depth Invest Europe study, whose work was led by Invest Europe’s CEE Taskforce, into the private equity and venture capital-backed companies driving innovation and economic development across Central and Eastern Europe (CEE).
Our report features 22 companies backed and fully exited by private equity investors during 2015-2019. The case studies illustrate how private equity enabled these companies to expand, enter new markets, and raise ESG standards while delivering strong returns for general partners and limited partners alike.
Climate Change Guide & webinar
Issue #47 - 5 March 2021
Attend our upcoming webinar to find out more about the Invest Europe Climate Change Guide - an introductory guide aimed to provide practical, entry-level, support to members seeking to integrate climate change considerations in their investment processes.
Speakers:
- Maaike van der Schoot, AlpInvest Partners
- Erwann Le Ligné, Eurazeo
- Patrick Sheehan, ETF Partners
- Rob Genieser, ETF Partners
- Cilia Holmes Indahl, EQT Partners
Climate Change Guide
The Invest Europe Climate Change Guide constitutes one of the most complete guides on ESG issues, and in particular climate change, for private equity investors to date. It includes tailored guidance, practical tools and concrete business cases made by practitioners for practitioners. Its structure follows a step-by-step approach and is based on three different modules – Introductory, Intermediate and Advanced - covering all stages of investors’ ESG journey.
Read more
Christian Sinding: investing with a purpose & societal impact
Issue #49 - 19 March 2021
We are pleased to welcome Christian Sinding, CEO, EQT as a keynote speaker at our Investors’ Forum next week.
Christian Sinding will address the private equity industry's role and responsibility and the tremendous positive impact we can make together.
LPs and GPs are already planning their time and connecting with peers.
Investors’ Forum new virtual platform enables all delegates to:
- Revisit recorded plenary content up to 4 weeks after the event
- Connect with LP and GP delegates during and after the event
- Interact with speakers during Q&A sessions
Register now to take advantage of the highest level speakers, data and interactive roundtables, accessible for more than a month.
Save the dates
-
CFO Forum
10-11 June 2021
-
Venture Capital Forum
13-14 October 2021
external publications shared
members' & NVCAs' publications highlighted
ESG reports from members
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