Management company GILD Fund Management recieved activity licence
The Financial Supervision Authority granted AS GILD Fund Management an activity licence for a management company of venture capital funds. The sole shareholder of AS GILD Fund Management is the investment firm AS GILD Financial Advisory Services, which is under the supervision of the Financial Supervision Authority. Members of the Supervisory Board of AS GILD Fund Management are Rain Tamm, Taavi Lepmets and Tõnis Haavel and the members of the Management Board are Janis Springis and Tõnno Vähk, the latter is also the fund manager.
Management of investment and pension funds requires an activity licence from the Financial Supervision Authority and the authority has previously issued licences to Avaron Asset Management, ERGO Varahalduse AS, GILD Property Asset Management, Hansa Investeerimisfondid, Kawe Kapital, LHV Varahaldus, Sampo Baltic Asset Management, SEB Ühispanga Fondid, Trigon Alternative Funds and Trigon Funds.
A venture capital fund is a fund where at least 60% of assets are invested in non-marketable stocks or shares in a regulated market or in shares of other venture capital funds. The management company of a venture capital fund shall not provide the service of securities portfolio management or retaining shares or securities for a client.