Press Release: State aid: Commission opens investigation into Danish scheme to improve SME access to risk capital

The European Commission has opened an investigation, under Article 88 (2) of the EC Treaty’s rules on state aid, into a planned Danish scheme aimed at facilitating the access of small and medium sized enterprises (SMEs) to risk capital. The planned aid is to be granted to certain investors who purchase shares traded on alternative markets. The Commission believes that the measure might give rise to disproportionate distortions of trade and competition within the EU's Single Market and doubts whether the scheme addresses a true market failure. The measure could also potentially crowd out other investors and might therefore not be the most appropriate and proportionate instrument to reach the planned objective. The opening of a formal investigation procedure gives interested parties the possibility to comment on the proposed measures. It does not prejudge the outcome of the procedure.