Venture Capital Sought for EU's $80 Billion SME Funding Effort
- Katainen says European Investment Fund could channel support
- Industry given until January to comment on rule changes
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Venture capital funds may play a bigger role in the EU’s quest to jump-start 75 billion euros ($80 billion) in investment funding for small and medium-sized businesses, EU Commission Vice President Jyrki Katainen said.
The EU has earmarked a quarter of its investment plan to help smaller companies, while also seeking private investors to join forces in financing and project management. The Luxembourg-based European Investment Fund last month announced a 1 billion-euro pact aimed at helping venture capital and mid-market funds pursue new deals.