Investment in an investment company in risk capital (société d'investissement en capital à risque - “SICAR”) is reserved to “well-informed” investors. 

The amended law of 15 June 2004 relating to SICAR (the “SICAR Law”) defines well informed investors as: 

• institutional investors;

• professional investors; or

• any investor who meets the following conditions:

1. the investor has confirmed in writing that he adheres to the status of well-informed investor; and

2. the investor invests a minimum of 125,000€ in the SICAR, or

3. the investor has been assessed by: 

   • a credit institution;

   • an investment firm; or

   • a management company, which certifies his expertise, his experience and his knowledge in adequately appraising an investment in risk capital.

References: Article 2 §1 of the SICAR Law; Investment Company in Risk Capital (SICAR) - Introduction, September 7, 2020, Bertrand Mariaux.

*Podcast #263:

*YouTube Video 252|: 

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)