10.1. Performance Determination

Before analyzing specific monitoring and controlling activities, it is critical to define how funds evaluate the success of their investment activity. This is done by performance determinations consisting of a set of guidelines defined by industry associations and specific government regulations that are generally different in each country where the “directives” are acknowledged by the financial sector regulatory organizations. In Italy we follow the guidelines proposed in March 2001 by the European Venture Capital Association (EVCA).[1] These guidelines are a reference for all investors.

1 The European Venture Capital Association (EVCA) is the European association of investors in risk capital with the objective ...

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