In a bid to simplify and shorten decision-making lines, EVCA have announced a wave of changes to its model of governance. Under the new structure venture capital, mid-market and large buyouts platform councils have become the most powerful bodies in EVCA.
As EVCA’s executive committee is disbanded, elected members of each platform council will constitute EVCA’s board. The new structure also formally combines the whole European private equity and venture capital industry into one voice for Europe. The changes are the result of an EVCA consultation process with its members and stakeholders.
EVCA’s platforms will now directly elect their own platform councils and set their own priorities. The aim of this move is to allow each member constituent to have more direct involvement in EVCA’s activities. An LP platform has also been created to represent the interests of EVCA’s institutional investor members.
In further moves, a consensual body known as a Public Affairs Executive (PAE) has been created to give one voice to the industry. It will be chaired by the EVCA chairman and include representatives from the major national associations, plus the association of the country holding the EU presidency.
Secretary general of EVCA, Javier Echarri said: “EVCA’s new governance structure empowers each segment of our industry to set its own agenda. Europe’s venture capital, mid-market and buyout investors are now masters of their own destiny within the EVCA brand.”
Chief executive of the BVCA, Simon Walker, said: “The newly constituted public affairs executive will ensure the whole European industry is fully co-ordinated on those policy matters where we have a common interest.”