commiss decis februari aid scheme quot viridian growth fund quot notifi unit kingdom notifi document number english text authent text eea relev ec commiss european commun regard treati establish european commun subparagraph articl thereof regard agreement european econom area articl thereof call interest parti submit comment pursuant provis cite procedur letter date septemb unit kingdom author notifi aid link set oper viridian growth fund ventur capit fund commiss ask addit inform novemb remind decemb unit kingdom author repli letter date januari suppli inform ask novemb commiss remind march unit kingdom author repli letter date march commiss request addit inform unit kingdom author repli letter date june letter august commiss inform unit kingdom author decis initi procedur pursuant articl ec treati relat viridian growth fund decis open procedur publish offici journal european commun commiss invit interest parti present comment aid scheme concern commiss receiv comment interest parti offici respons unit kingdom author arriv letter date septemb septemb commiss request clarif meet discuss commiss queri held servic commiss unit kingdom author novemb unit kingdom author formal repli commiss queri decemb ii detail descript scheme object scheme object scheme notifi amend unit kingdom author procedur address perceiv gap provis ventur capit fund small enterpris se northern ireland defin accord recommend sme fund invest se manufactur commerci servic sector enterpris difficulti rais financ exist financi sourc order attract institut investor market heavili repres northern ireland perceiv riski unit kingdom author provid incent contribut develop region ventur capit fund call viridian growth fund legal basi legal basi scheme articl industri develop northern ireland order fund contract oper guidelin statu fund partnership structur fund set partnership limit partnership regist limit partnership act amend time time viridian growth fund lp partnership gener partner respons conduct manag partnership busi abil appoint manag fund manag select competit bid procedur fund capit total gbp million establish fund public sector financ gbp million provid alongsid financ privat sector financ provid european invest bank eib gbp million public sector financ provid viridian group plc privat sector supplier electr northern ireland gbp million northern ireland local govern offic superannu scheme gbp million abbei nation gbp million unit kingdom author prepar seek privat sector investor relev public europ present advertis intern edit financi time monthli public produc european ventur capit associ durat invest phase fund complet end decemb state unit kingdom author letter date januari term invest remuner fund notifi amend unit kingdom author financ drawn fund period time match approxim annual rate invest fund se cover year invest period tranch invest fund sharehold envisag tranch fund drawn investor fund place proport particip fund intent fund manag return capit invest privat public sector pai accept rate return invest capit incom achiev fund redistribut investor phase phase privat sector investor eib reimburs sector eib realis total return invest phase receiv intern rate return year phase realis portfolio made preferenti public sector invest initi gbp million invest return fourth phase public sector receiv intern rate return year fund produc loss alloc net incom loss net capit loss born depart enterpris trade invest deti time full amount invest fund reduc reason alloc net incom loss net capit loss alloc remain investor pro rata particip intent unit kingdom author gener partner receiv administr fee partli base perform fund conclud deti take higher risk lower rate return investor invest se fund fund oper limit notifi unit kingdom author fund abil invest gbp individu se mean loan sharehold loan loan subordin unsecur loan interest rate higher interest rate charg commerci bank sector secur loan ordinari share capit se give portion equiti return capit invest fund invest compani difficulti defin commun guidelin state aid rescu restructur aid fund invest compani activ product process market product list annex treati exclud invest compani activ sensit sector special commun rule govern state aid laid unit kingdom author fund invest compani undertak programm expans includ invest fix asset intang asset similar point guidelin nation region aid financi aid fund separ region nation programm unit kingdom author undertaken limit total aid aid ceil laid accord current aid statu northern ireland iii open procedur pursuant articl ec treati decis initi procedur laid articl ec treati viridian growth fund commiss express doubt compat notifi aid measur commun state aid rule unit kingdom author justifi preferenti treatment privat investor fund order attract particip fund decis open procedur commiss express doubt underwrit consider proport privat investor risk give benefit differ drawdown provis link expenditur consid constitut elig cost commun framework commiss state aid authoris commiss question aid compani invest link initi invest sens commun guidelin state aid small medium size enterpris guidelin nation region aid expenditur constitut elig cost commiss commun framework decis initi procedur pursuant articl ec treati commiss limit partnership vehicl fund oper consid undertak beneficiari aid iv comment unit kingdom letter septemb unit kingdom submit comment commiss decis initi procedur pursuant articl ec treati fund comment summaris potenti investor invest propos level fund govern brought fund propos forward propos seek address real market failur place target compani northern ireland disadvantag compani question find attract equiti capit northern ireland gbp gbp level issu afford appli present time option fund unit kingdom author point interest rate higher charg bank signific northern ireland context bank compet make secur loan low margin scheme select limit fund demand potenti larg fund manag discretionari decis assist provid privat investor fund limit minimum secur privat sector involv fund make sourc risk capit compani northern ireland address market failur excess distort competit unit kingdom author accept exist fund reduc number attract invest opportun potenti investor interest serv market potenti institut investor approach support fund opportun particip fund address invest target rang compani enterpris attract investor potenti investor continu find attract opportun invest target fund purpos invest assist enabl target compani rapidli expand oper reduc current expens propos invest fund constru oper aid limit partnership arrang peopl organis agre carri busi common view profit limit partnership agreement regul oper partnership limit partnership legal person distinct partner partnership tax author treat individu partner investor partnership fund case partner made invest directli underli portfolio compani word limit partner assess individu tax liabil aris incom capit gain partnership fund limit partner tax partnership individu partner unit kingdom contend aid judg deriv individu partner doubl count incorrect attribut aid limit partnership meet held novemb servic commiss unit kingdom author formal letter date decemb commiss amend provid amend integr descript scheme section ii assess scheme exist aid legal person constitut fund limit partnership unit kingdom tax legisl deem legal person distinct partner purpos present case commiss consid fund investor level commiss note term investor fund modifi procedur unit kingdom author commit seek privat investor fund european wide level differ remuner remain deti investor fund cost deti stake deti fund stem state resourc notwithstand state polici promot access risk capit commiss exclud particular scheme involv aid investor fund enterpris fund invest aid investor fund enterpris fund invest distort threaten distort competit affect trade member state mean articl ec treati view fact high level competit financi market european wide small enterpris northern ireland fund invest consider enhanc capabl compet undertak member state scheme notifi advanc accord articl ec treati compat aid establish fund involv state aid purpos articl ec treati commiss examin compat thereof derog provid articl commiss consid exempt provid articl ec treati appli aid measur pursu object list articl treati unit kingdom argu case articl ec treati appli part northern ireland qualifi region aid articl aid scheme intend promot execut import project common european interest remedi disturb economi member state intend promot cultur heritag conserv commiss consid articl articl ec treati applic fund view commiss determin basi measur found compat common market articl ec treati commiss note northern ireland assist area footnot guidelin nation region aid commiss recal establish view sme suffer number handicap slow develop main handicap difficulti obtain capit credit chief imperfect inform risk shy natur financi market limit guarante sme posit offer commiss recal commun state polici set conclus lisbon european council quot redirect fund support busi start up high tech firm micro enterpris risk capit initi propos eib quot commiss note comprehens research studi financ sme northern ireland undertaken ulster societi charter account show market failur exist lower end risk capit market public intervent decis creation fund privat investor invest fund term public sector intervent state fund amend term origin notifi commiss fund invest investe compani se undertak programm expans set support busi plan invest decis focu natur product market develop plan qualiti manag team avail kei personnel amend term origin notifi commiss unit kingdom author revis present limit partnership order ensur tranch invest made fund fund investor fund drawn proport commit fund advantag privat partner concern distribut return drawdown fund mean privat investor eib invest term requir put fund risk return made total fund invest privat investor regard substanti total fund invest term privat investor eib assur commerci consider plai kei role fund invest decis addition limit distort competit creat aid investe compani state intent unit kingdom author fund manag return capit invest privat public sector pai accept rate return invest capit fund manag select open call tender publish offici journal european commun remuner partial base perform fact enhanc commerci fund commiss final note unit kingdom author commit intervent fund separ region nation programm unit kingdom author undertaken limit total aid aid ceil laid accord current aid statu northern ireland due problem calcul aid intens equiti particip regard loan condit commiss conclud aid involv establish oper fund limit minimum advers affect trade condit extent contrari common interest conclus support fact observ made interest parti formal investig commiss note commit unit kingdom author notifi applic fund authoris present decis commiss regul ec januari applic articl ec treati train aid commiss regul ec januari applic articl ec treati de minimi aid commiss regul ec januari applic articl ec treati state aid small medium size enterpris basi forego commiss take view amend viridian growth fund involv aid qualifi derog articl ec commiss conclud scheme compat common market adopt decis articl viridian growth fund amend compat common market scheme implement articl unit kingdom author submit commiss addit inform plan continu fund extend amend scheme refer articl requir provid pursuant articl ec treati annual report provid detail inform commiss evalu scheme perform posit effect scheme continu outweigh distort competit articl decis address unit kingdom great britain northern ireland brussel februari commiss mario monti member commiss oj refer sg oj oj public sector financ made deti partial financ erdf oj oj oj oj oj unit kingdom region aid map period approv commiss state aid number approv letter sg august northern ireland articl region except region base footnot guidelin nation regtion aid oj oj lisbon european council presid conclus march oj oj oj oj