Publication detail

Private Equity and Venture Capital: Investment Fund Structures in the Czech Republic

ZINECKER, M.

Original Title

Private Equity and Venture Capital: Investment Fund Structures in the Czech Republic

Type

journal article - other

Language

English

Original Abstract

A working private equity and venture capital market (PE/VC market) stimulates the business environment in a positive manner and impacts the level of economic growth of national economies. A study of the Austrian Private Equity and Venture Capital Organisation/AVCO (2004, p. 6) defines prerequisites for a correct operation of the PE/VC market. It views the legislative provision for suitable legal fund structures for PE/VC investments and their tax treatment as a key factor. In its publication, Private Equity & Venture Capital in the Czech Republic (2010, p. 14), the Czech Venture Capital Association/CVCA stresses that legal barriers are an important reason behind the limited scope of resources available to domestic PE/VC funds. Legal barriers prevent the establishment of a standard PE/VC fund in the territory of the Czech Republic, which fact in turn has a negative impact on the level of development of the domestic PE/VC market (fundraising, investment volumes, establishment of the infrastructure required for the operation of PE/VC funds). The purpose of this article is, based on an analysis of the relevant information sources, to assess how the current Czech legislation regulates the legal fund structures for PE/VC investments and their tax treatment. Proposals for a potential improvement of the situation are based on a comparison of the legislative framework applicable in the Czech Republic and the requirements defined by the European Venture Capital Association/EVCA, as well as the AVCO study (2004, 2006).

Keywords

private equity, venture capital, tax and legal environment, private equity and venture capital fund structures

Authors

ZINECKER, M.

RIV year

2011

Released

31. 12. 2011

Publisher

Mendelova univerzita v Brně

Location

Brno

ISBN

1211-8516

Periodical

Acta Universitatis Agriculturae et Silviculturae Mendelianae Brunensis

Year of study

59

Number

7

State

Czech Republic

Pages from

541

Pages to

551

Pages count

11

URL

https://acta.mendelu.cz/59/7/0541/

Full text in the Digital Library

http://hdl.handle.net/11012/70192

BibTex

@article{BUT75921,
  author="Marek {Zinecker}",
  title="Private Equity and Venture Capital: Investment Fund Structures in the Czech Republic",
  journal="Acta Universitatis Agriculturae et Silviculturae Mendelianae Brunensis",
  year="2011",
  volume="59",
  number="7",
  pages="541--551",
  doi="10.11118/actaun201159070541",
  issn="1211-8516",
  url="https://acta.mendelu.cz/59/7/0541/"
}