Weekly round-up: strengths and weaknesses

Fleur Pellerin, French minister delegate with responsibility for SMEs, innovation and the digital economy, spoke to unquote" about capital gains tax in France, competition between local investors and state funds, and about European IPOs. The minister also outlined proposals to improve visas for entrepreneurs: "If you look at Silicon Valley, 50% of start-ups were created by immigrants, so obviously one of the ingredients needed for a successful ecosystem is the presence of foreign talent. And there is global competition for talent." A law is expected to pass next spring.

Silverfleet Capital appointed Annette Wilson as head of investor relations, unquote" learned last week. The former head of IR at Palamon Capital Partners is the first Silverfleet professional to be fully dedicated to the investor relations role, reflecting the growing importance of transparency and communication to LPs.

In the wake of a sterling exit, unquote" put Palamon under the spotlight, analysing the strengths of recent divestments against the dramatic reduction in the firm's latest fund size. Louis Elson, co-founder and managing partner at the firm, outlined the challenges when trying to convince US LPs of Europe's merits and the firm's approach to hiring. 

Scott Sage, a partner at venture capital firm DFJ Esprit, outlined the most interesting new technology trends in Europe in an exclusive video interview with unquote". The investor also discussed the return of traditional LPs such as pension funds, investment banks and funds-of-funds to the asset class. "Similarly, we're seeing other kinds of alternative forms of capital coming in: corporates and family offices are dabbing their toes in the European venture industry, which is good for the ecosystem," he said.

unquote" also explored the strengths and weaknesses of boutiques and banks providing depositary services. As the AIFM Directive comes into force across Europe, competition between the Davids and Goliaths is increasing. But the question at the heart of the battle remains: what is more important, experience of the industry or experience of depositary services?

That's all from me this week but if you have any comments on this week's analysis, please send your thoughts to amy.king@incisivemedia.com

You can continue to follow me and the rest of the unquote" team via @unquotenews for all the latest private equity and venture capital updates and of course on unquote.com.

Amy King
Senior Reporter, unquote"

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