European Investment Fund (EIF) finds venture capital driven less by tax than by innovation rate.

The European Investment Fund (EIF), the largest fund of venture capital (VC) funds on the continent, has undermined the industry’s argument that tax incentives are important factors for venture capital funds to invest in a country.

Trade bodies in the US and UK, among other regions, have argued that tax incentives are important as governments seek to raise capita gains tax or theamount paid on performance fees, called carried interest.

The reasons behind the relative lack of importance in…

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