Post by Regina A. Koerner

Last week at TECH by Handelsblatt, the focus was on Europe's technological future. This week, the conversation shifts to capital at SuperReturn International in Berlin. With more than 6,000 private equity and venture capital leaders gathering from around the world, two regulatory issues are dominating discussions: Solvency II Reform 🛠️ : Europe's insurance sector manages trillions of euros in assets. Yet under Solvency II, investments in venture capital and private equity continue to face significant capital charges. The key question: Have the latest reforms gone far enough to unlock institutional capital for innovation—or do regulatory barriers still discourage insurers from backing Europe's next generation of technology companies? The Capital Markets Union (CMU) 🛠️ Europe remains a single market for goods—but not for capital. Investors still face a patchwork of national insolvency regimes, tax systems, and market rules across 27 member states. For years, industry leaders have argued that a fully functioning Capital Markets Union is essential to make cross-border investing as seamless as it is in the United States. That is why fund managers and LPs continue to push policymakers to accelerate reforms and remove structural barriers to investment. Alternative financing channels such as Private Credit are increasingly filling gaps left by a more tightly regulated banking sector. Why this matters ‼️ Europe does not suffer from a lack of ideas. It suffers from a lack of growth capital. If we want Europe's most promising startups to scale here rather than relocate elsewhere, we must make it easier, faster, and more attractive for institutional investors to deploy capital across Europe. Europe's future should be built—and funded—in Europe❗ Please listen to examples in an interview with Dr. Hendrik Brandis of Earlybird Venture Capital in AufBruch. Staat neu denken. #VentureCapital #PrivateEquity #EuropeanCapitalUnion #SolvencyII Good to catch up with Felix Holtermann Robert Lacher Felix Haas Thomas Oehl Deepa Gautam-Nigge Thomas Berger Liisa Pakosta and many others! :-)