An investment company in risk capital (société d'investissement en capital à risque - “SICAR”) is a financial vehicle tailored for private equity and venture capital investments. It may qualify as an alternative investment fund (“AIF”). Securities or partnership interests of the SICAR are reserved to well-informed investors. SICARs that have appointed a European alternative investment fund manager (“AIFM”) can market their securities or partnership interests to investors across Europe via a specific passport.
References: Articles 1(1) & (2) of the amended law of 15 June 2004 relating to SICAR (the “SICAR Law”); for specific provisions applicable to SICARs managed by an alternative investment fund manager, see: Part II – Specific provisions applicable to SICARs managed by an AIFM authorised under Chapter 2 of the law of 12 July 2013 on alternative investment fund managers or under Chapter II of Directive 2011/61/EU of the SICAR Law; for the definition of well informed investors, see Article 2 §1 of the SICAR Law.
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Bertrand Mariaux, Avocat à la Cour, LL.M. (hons.)
Prestation de serment (Swearing-in oath): Luxembourg (2011), Certificat d’Aptitude à la Profession d’Avocat, École de Formation professionnelle des Barreaux de la Cour d’appel de Paris (2009), Bond University (LL.M. (distinct.), International Legal Practice, 2010), Université Sorbonne Paris Nord & University of Limerick (Master in European & International Law - major in economics, 2008), certified Expert in Microfinance (Frankfurt School of Finance & Management, 2015), social entrepreneurship (University of Oxford, 2015 & The Wharton School of Social Policy & Practice, 2014) and social & solidarity economy (International Labour Organization Academy - Social & Solidarity Economy, Organisation Internationale du Travail - Économie Sociale et Solidaire, 2017)