EU to back €2.1bn fund for European start-ups

The European Union has announced it will back a Pan-European Venture Capital Funds-of-Funds programme, known as VentureEU, to boost investment in start-up and scale-up companies across Europe.
The EU itself will only be providing €410 million of the total amount, which will be raised from other private and public sources. The VentureEU fund will invest in six venture capital fund of funds, which is hoped to raise a total of €6.5 billion, double the amount of capital investment which is