As its name suggests, the Venture-Capital Company is a regulated, fiscally-efficient structure when investing in venture capital. Unlike most other investment funds, the SICAR is subject to no portfolio-diversification rules or restrictions on borrowing or leverage. The SICAR may take the legal form of a corporation (société anonyme, SA; société à responsabilité limitée, SARL; société en commandite par actions, SCA; société coopérative organisée sous forme de société anonyme, SCOSA; société en commandite simple, SCS). Like all mutual funds (Organisme de Placement Collectif, OPC), incorporating document must be approved by the CSSF (Commission de surveillance du secteur financier, Luxembourg’s financial-market supervisory authorities), which also is responsible for overseeing the SICAR.
