The European Union hopes public money will sweeten its efforts to expand the use of venture capital to fund growing companies, according to plans from EU Financial Services Commissioner Jonathan Hill. Venture capital funds should face less red tape across the 28-nation EU so there can be more of them, participating in more investments and in more regions, Hill said at a Tuesday conference in Brussels. He said the EU needs to do more to help the sector grow, noting that the average European fund is half the size of its U.S. counterpart.
