Although there are differences of opinion, most experts in the field feel the addendum to the regulation of investment funds covers all the minimum elements that must be detailed in an instrument of this nature.
The venture capital funds are targeted at companies that have not been in the stock market and require resources to finance their projects.
For individuals from the National Stock Exchange, who organized the Alternative Market for Shares (MAPA in Spanish), a private space where companies come to issue shares, the legislation comes in good time, and will allow for linkages between the market and funding.
An article on elfinancierocr.com states: "For Jorge Volio, an expert in structuring financing, the minimum net asset requirement is one of the points that should ideally have been set with a larger margin, and stressed that it is a matter of taste and not based on a technicality.
The set amount of $1 million could be higher, at least $5 million, he said. A similar rule was applied for the minimum investment per investor, which is $50,000."
Source: elfinancierocr.com
More on this topic
November 2011
The primary objective of this scheme is the temporary investment in private bonds of recommended companies, which have not been registered on a stock market over the past five years.
Costa Rica’s National Council of Financial System Supervision approved the regulations covering the operation of the long-awaited Venture Capital Funds.
July 2011
The connection between entrepreneurs with good ideas and sophisticated investment professionals results in venture capital funds.
For years, experts in this type of investment have tried to promote the development of a format that will allow the participation of several sophisticated investors in the financing of enterprises that require resources for their development.
February 2010
The Securities Commission (Sugeval), is preparing regulation to enable venture capital funds to conduct public offerings.
In Costa Rica there are several venture capital funds, but they are private and cannot perform public offerings. The regulation to allow them to do it could be ready in a couple of weeks.
July 2011
The proposal to finance small enterprises using venture capital remains stalled.
Since last year, authorities have been analyzing financial market regulations that support the creation of the framework and its use for small businesses.
The delay, they say, is because they want to analyze every aspect of it, especially with regard to the risks, believing it could its use could become popularised among investors that do not meet the profile.
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