Instead, he ploughed his business and tech skills (and a small chunk of his personal fortune) into supporting ventures that promise social as well as financial returns.
While France and Britain, for example, have put in place tax breaks to support venture investments, Germany has not followed suit.
It is the latest twist for FutureGen, a federally supported venture to demonstrate the most advanced ways to convert coal to a gas, capturing pollutants and burning the gas for power.
That is a big jump from pre-crisis days, when government funds provided 10% of new capital; and a lot more than European private-equity firms, which drew 8% of their funding from public sources in 2011.Apart from tax incentives, governments support venture capital in two ways.
In what can only be described as shameless hypocrisy, Obama does support venture capitalism when it supports his political purposes.
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Among other things, it argues that a new generation of small investment banks is needed to support venture-backed offerings.
