The Austrian Financial Market Authority (FMA) is required to publish about participants in the Regulatory Sandbox pursuant to Article 23a para. 4 of the Financial Market Authority Act (FMABG; Finanzmarktaufsichtsbehördengesetz) on its website. CONDA Capital GmbH (Commercial Register No. FN 596688 h) was admitted to the Regulatory Sandbox by means of an FMA administrative decision dated 02.02.2023. In an FMA administrative decision dated 22.09.2023 the Regulatory Sandbox participant CONDA Capital GmbH was granted an authorisation pursuant to Regulation (EU) 2020/1503 on European crowdfunding services for business (ECSP-R).
The entity is therefore authorised as an authorised crowdfunding service provider to perform the placing of transferable securities without a firm commitment basis that are issued by project owners or a special purpose vehicle, as well as receiving and transmitting of client orders in relation to these transferable securities.
CONDA Capital GmbH will be active as the operator of a digital platform available in the public domain as a crowdfunding service provider for start-ups and small and medium-sized entities (project owners) from various industries in Austria as well as on a cross-border basis within Europe, enabling the matching of potential investors with project owners.
The issuing of the administrative decision granting an authorisation marks its entry into the test phase (phase 3) of the four phase process in the Regulatory Sandbox. During the course of this stage, the entity provides crowdfunding services that require a authorisation and is supervised by the FMA in doing so. An entity’s participation in the Regulatory Sandbox is time-limited to a period of two years.