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Founded by Rich Bendis's fledgling venture capital market has hit a ''trough'' and needs public money to stimulate its return to growth, according to the European Investment Fund – the EU's long-term investment body. EurActiv reports from the European Business Summit (EBS) in Brussels.

Richard Pelly, chief executive of the European Investment Bank, said that while some are predicting the death of venture capital in Europe, he sees great opportunities, provided that the right kind of backing is given.

Failure to develop a well-functioning venture capital system would scupper Europe's efforts to build an innovative SME-led knowledge economy, he added.

To read the full, original article click on this link: European Venture Capital Market Has 'Hit The Bottom'

Author: EurActiv