WRITTEN QUESTION E-2713/00 by Christopher Huhne (ELDR) to the Commission. Venture capital.
Date: 2000-09-01
Institutions: European Parliament, Provisional data
Subjects: EU Member State, economic statistics, start-up, venture capital

3.4.2001

EN

Official Journal of the European Communities

C 103 E/215

Some limited data on the annual stocks of enterprises is available for the years 1995-1998, for most
sectors of the market economy and is sent direct
to the Honourable Member and to Parliament(cid:146)s
Secretariat. This is derived from the structural business statistics harmonised data collection, based on
Council Regulation (EC, Euratom) No 58/97 of 20 December 1996 concerning structural business
statistics (1) that will be fully implemented by the end of 2001.

A development project
harmonised data by 2002.

for statistics on business demography is underway.

It

is hoped to develop

(1) OJ L 14, 17.1.1997.

(2001/C 103 E/251)

WRITTEN QUESTION E-2713/00

by Christopher Huhne (ELDR) to the Commission

(1 September 2000)

Subject: Venture capital

Will the Commission please estimate the amount of capital supplied to start-up and early-stage growth
companies (i.e. venture capital) in each Member State for each of the last five years?

Answer given by Mr Liikanen on behalf of the Commission

(12 October 2000)

The Commission does not have comprehensive figures on venture capital supplied to start-up and early
stage growth companies in each Member State for the last five years.

The venture capital market in Europe has continuously expanded in recent years. Venture capital funds are
one of the main sources for supplying capital to new and growing companies but informal investors
(business angels) also contribute significantly to the venture capital market(cid:146)s total volume. In addition,
venture capital is increasingly provided through corporate venturing (funds closely linked to big compa-
nies). It is estimated that venture capital investments made by informal investors at least match those made
by venture capital funds.

The table attached showing venture capital investments made in the Member States for the past five years
is based on statistics of the European Venture Capital Association (EVCA) which produces an annual
yearbook on private equity in Europe. Figures published by EVCA are based on a survey in 17 European
countries.

All figures are taken from the EVCA yearbooks 1996-2000 and refer to the investments made by Member
State in the respective years. All figures refer to either early stage investments (seed and start-up phase) or
expansion and development investments. They do not include replacement investments or management
buy in or management buy out (MBI/MBO) investments which, by definition, are not part of (cid:145)venture
capital(cid:146)
investors and
through corporate venturing.

investments. EVCA statistics also do not include investments made by informal

On the Community level, the European Investment Bank (EIB) and the European Investment Fund (EIF) are
significant providers of risk capital finance. The EIB commenced risk capital operations in 1997 under the
Amsterdam special action programme (ASAP). It has been authorised by its governors to earmark € 2 000
million of its surplus to support so-called risk-sharing operations. To date, signatures under risk capital
operations already exceed € 1 000 million. The EIF acts as the venture capital arm of the EIB. In addition
it manages the above risk capital
to own resources equity investments (approximately € 90 million),

C 103 E/216

Official Journal of the European Communities

EN

3.4.2001

resources of the EIB, as well as risk capital funds on behalf of the Community. Under the 1997 (cid:145)Growth
and employment Initiative(cid:146), sponsored by the Parliament, the EIF manages the (cid:145)European technology facility
(ETF) start-up(cid:146) scheme (indicative budget € 150 million over 3 years), which is the first higher-volume
Community risk-capital instrument with specific features to encourage allocation of benefits to early-stage
and innovative or technology-oriented companies.

(2001/C 103 E/252)

WRITTEN QUESTION E-2738/00

by Richard Howitt (PSE) to the Commission

(1 September 2000)

Subject: Development assistance in Peru

The European Union has taken note of the extent of the electoral anomalies and irregularities that plagued
this year(cid:146)s electoral process in Peru and cast serious doubt on the democratic legitimacy of the outcome.
As the EU(cid:146)s programme of development assistance to Peru is governed by the framework agreement
between the EU and the Andean Community (CAN), which contains a (cid:145)democracy(cid:146) clause, and since the
authorities in Peru show no signs of heeding international demands for fresh elections that are free and
fair, would it not seem an appropriate moment to invoke that clause?

Furthermore, as there have been reports that EU development assistance was used in President Fujimori(cid:146)s
re-election campaign to promote his image, would the Commission consider ordering all future develop-
ment aid to be directed henceforth through non-official (NGO, church) channels?

Answer given by Mr Patten on behalf of the Commission

(12 September 2000)

The Commission closely monitors events in Peru together with Member States. It supports the special
mission that the Organisation of American States has set up with the objective of reinforcing democracy in
the country. At this time, therefore, it does not seem appropriate to invoke the (cid:145)democracy(cid:146) clause of the
framework co-operation agreement between the Union and the Andean Community.

The Commission is looking into the alleged misuse of Community funds in Peru but so far it has not been
possible to confirm these allegations. If this misuse was confirmed, a suspension of Community aid would
need a Council decision.

Nevertheless, the Commission reserves its right to re-consider its position in view of further developments
in Peru.

(2001/C 103 E/253)

WRITTEN QUESTION P-2748/00

by Luisa Morgantini (GUE/NGL) to the Commission

(2 August 2000)

Subject: Irregularity of the EC-Israel Agreement

In 1998, Israel confirmed to the European Commission its official policy and regular practice of certifying
products wholly produced or substantially processed in Israeli settlements located in the territories
occupied by Israel since 1967 as originating in the State of Israel. On the occasion of the Parliament(cid:146)s
2 March plenary debate on the (cid:145)Irregular application of EC-Israel Trade Agreement(cid:146), Israel(cid:146)s mission to the