BVCA initiates 'valuation' working party
UK/EUROPE – The British Venture Capital Association (BVCA) has set up a working party to examine issues surrounding valuation guidelines, consulting widely across Europe with member firms, investors, the European Venture Capital Association (EVCA), and the accounting profession amongst others.
The Working Party will look at valuation and reporting guidelines with Michael Queen, vice chairman of the BVCA and chairman of the BVCA's Investor Relations Committee, heading up the endeavour.
The Working Party will report to the BVCA Chairman Edmund Truell in the middle of 2002.
Truell comments: “The intention is to produce guidelines by the middle of next year that have international acceptance. I am a big proponent of more regular reporting, greater openness of information, comparability and consistency. The working party has seconded to it Michael Mills, a very experienced executive,
for the next six months and the BVCA's chief executive and executive
director, John Mackie and Jennifer English, will also sit on it.”