Abstract

The preferred means of financing in Austria are bank loans. However, start-ups and some SMEs suffer from a lack of financing alternatives. A look across the border gives hope: venture debt is en vogue. The European Commission recognises the need for action. A Commission proposal dated 25.11.2021 to amend the AIFM Directive aims to create an efficient single market for loan-originating funds. Against this background, this paper deals with the existing legal framework for loan originating funds and provides first insights into upcoming regulatory developments.

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