European Social Entrepreneurship Fund (EuSEF) - such funds being the subject of the European Union Regulation 346/2013.
It gives a passport for raising capital across the EEA by marketing to qualified investors and subject to registration, observance of certain rules for investment and observation of regulatory requirements.
Investment has to be primarily in Small and Medium-sized Enterprises (SMEs). Borrowing (leverage) by the fund is not generally allowed.
EuSEF is distinguished from a European Venture Capital Fund (EuVECA) by its investments which have the primary objective of achieving measurable, positive social impacts.
A fund that grows beyond the €500m limit must gain authorisation under the AIFMD - subject to which it may continue to use the EuSEF designation if it meets the other EuSEF requirements.