European venture capital (VC) investments are on a healthy upward trend, returns and money multiples are growing, innovation hubs are emerging, and serial entrepreneurs are flourishing. However, European fund-raising has steadily slowed, while governments in Europe have filled the funding gap, at a time when US investment in European ventures is on a sharp upward trend, according to a new report from the Boston Consulting Group (BCG) and Spain’s IESE Business School.