Centrally managed EU interventions for venture capital: in need of more direction
| Audit Id | 1590400557310 |
|---|---|
| Title | Centrally managed EU interventions for venture capital: in need of more direction |
| Title in original language |
Centrally managed EU interventions for venture capital: in need of more direction English |
| Year | 2019 |
| Subject |
Business and Industry EU Funds Science, Technology and Innovation |
| Type |
Performance |
| Type of performance |
Performed by single SAI |
| Comments | The EU provides money to venture capital funds for investment mainly in start-ups and innovative emerging firms. This audit assessed six centrally managed interventions that have been implemented since 1998. The EIF manages these interventions on behalf of the Commission. We found that the Commission increased its financial support over the years without fully assessing market needs or absorption capacity. Its investment strategy was not comprehensive, and less developed venture capital markets benefited little. The EIF’s procedures also require streamlining and improvement. ECA special report pursuant to Article 287(4), second subparagraph, TFEU. |
| Author |
European Court of Auditors |
| Materials |
Audit report English Hyperlink to the concrete materials English Press release English |
| Contact |
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