The House of Commons European Scrutiny Committee has reported on the European Commission's legislative proposal for a Regulation to amend the EuVECA Regulation and the EuSEF Regulation. The Committee sets out the UK government's view of the Commission's proposal, which includes that the government: (i) strongly welcomes the Commission’s policy initiative, alongside the wider CMU initiative; (ii) notes that the take up of these fund structures has been low since their introduction and that further action needs to be taken to increase their attractiveness; (iii) will seek an outcome that both allows more businesses to benefit from the non-banking source of financing provided by EuVECA, while incentivising more managers to market EuVECA and EuSEF funds across borders; and (iv) supports the changes to the definition of eligible companies for EuVECA investment.