On 9 October 2017, the Council adopted new venture capital rules aimed at boosting investment in start-ups and innovation.
The regulation is part of the EU's plan to develop a fully functioning capital markets union. It will also help boost investment, in line with the EU's 'investment plan for Europe'.
"The new rules will help diversify the funding sources available for businesses and long-term projects in Europe", said Toomas Tõniste, minister for finance of Estonia, which currently holds the Council presidency. "By making it easier for them to raise money on capital markets, the aim is that businesses should not rely exclusively on bank loans."
The regulation was adopted at a meeting of the Agriculture and Fisheries Council, without discussion.
The European Parliament gave its approval on 14 September 2017. This follows an agreement with Parliament representatives reached on 30 May 2017.