private markets
Europe’s startups thrive, but their subsequent scaleups do not. The lack of late-stage venture capital alongside regulatory barriers and fragmented markets push firms abroad. Targeted reforms could unlock funding and keep innovation growing at home.
European public equity markets are struggling with weak IPOs and listings. The EU is exploring private capital exchanges, inspired by the UK’s PISCES model, to improve access to growth capital and investor exits.
The SEC is proposing major changes to the rules governing private markets to help young companies raise capital and to expand retail investor access to private markets. CFA Institute argues that the proposal would weaken investor protections and tip the balance yet further against public markets.