{
  "url": "https://openlegislation.uk/eu-regulation-2013-345/article-6",
  "json_url": "https://openlegislation.uk/eu-regulation-2013-345/article-6.json",
  "legislation": "eur/2013/345",
  "legislation_title": "Regulation (EU) No 345/2013 of the European Parliament and of the Council of 17 April 2013 on European venture capital funds (Text with EEA relevance)",
  "legislation_url": "https://openlegislation.uk/eu-regulation-2013-345",
  "path": "article/6",
  "kind": "article",
  "number": "6",
  "heading": null,
  "text": "1. Managers of qualifying venture capital funds shall market the units and shares of qualifying venture capital funds exclusively to investors which are considered to be professional clients in accordance with Part 2 of Schedule 1 to the Markets in Financial Instruments Regulation 2014 or which may, on request, be treated as professional clients in accordance with Part 3 of Schedule 1 to the Markets in Financial Instruments Regulations 2014, or to other investors that:\n(a) commit to investing a minimum of EUR 100 000; and\n(b) state in writing, in a separate document from the contract to be concluded for the commitment to invest, that they are aware of the risks associated with the envisaged commitment or investment.\n2. Paragraph 1 shall not apply to investments made by executives, directors or employees involved in the management of a manager of a qualifying venture capital fund when investing in the qualifying venture capital funds that they manage.",
  "extent": "E+W+S+N.I.",
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "F",
      "label": "F1",
      "text": "Words in Art. 6(1) substituted (31.12.2020) by The Venture Capital Funds (Amendment) (EU Exit) Regulations 2019 (S.I. 2019/333), regs. 1(1), 4(2)(a) (with savings in S.I. 2019/680, reg. 11); 2020 c. 1, Sch. 5 para. 1(1)"
    },
    {
      "type": "F",
      "label": "F2",
      "text": "Words in Art. 6(1) substituted (31.12.2020) by The Venture Capital Funds (Amendment) (EU Exit) Regulations 2019 (S.I. 2019/333), regs. 1(1), 4(2)(b) (with savings in S.I. 2019/680, reg. 11); 2020 c. 1, Sch. 5 para. 1(1)"
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/eur/2013/345/article/6",
    "retrieved_at": "2026-11-01T14:48:43.606834+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}