Private equity and venture capital as a business activity have their own legal framework in Spain, which is currently subject to an in-depth review process. The upcoming reform is the result of the need to transpose and incorporate the European directives on the subject, as well as of the interest of promoting private equity and venture capital as an alternative and complementary instrument to traditional bank financing.
This chapter reviews the development process of the Spanish regulatory framework and briefly analyzes both laws currently in force, and the ongoing reform, which, to some extent, has been triggered by the impact of the most recent financial crisis.
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