Risk Capital as State Aid: Revising the Commission’s Market Failure Approach journal article Luís Morais, Miguel Sousa Ferro European State Aid Law Quarterly, Volume 10 (2011), Issue 3, Page 425 - 432 Risk capital is a broad concept that includes a growing number of types of investment. In the EU legal order, it has been defined as “equity and quasi-equity financing to companies during their early-growth stages (seed, start-up and expansion phases), including informal investment by business angels, venture capital and alternative stock markets specialised in SMEs including high-growth companies (hereafter referred to as investment vehicles)”1. For
Judgment By Formula: Regulatory Form and the Differentiation of Fiscal Measures and Non-Fiscal Measures in EU State Aid Law Christopher McMahon