Scaleup Europe Fund Set to Start Making Investments

The European Commission completed the final legal steps to establish the Scaleup Europe Fund. It will start boosting Europe's scaleup companies to grow faster and compete globally, with a target of €5 billion.

“When Europe invests in its innovators, Europe invests in its future. This is the goal of our Scaleup Europe Fund. From today, it will ensure our scaleups can find what they need right here in Europe to grow into world-leading companies. To turn European innovation into our competitive edge,” said EC President Ursula von der Leyen.

With the adoption of the Fund's legal documentation, the Scaleup Europe Fund is established as part of the European Innovation Council Fund. Private equity firm EQT has taken up its role as investment manager and is now empowered to take investment decisions independently and on market terms. EQT was selected through an open and competitive process. The Fund is now able to operate at full capacity, investing directly in Europe's leading scaleup companies.

The first investments are expected in the coming weeks. The Fund will support scaleup companies across critical technology areas, including artificial intelligence, quantum technologies, biotechnology and clean technologies. The founding investor group brings together a strong coalition of public and private partners, including Novo Holdings, EIFO (the Export and Investment Fund of Denmark), CriteriaCaixa, Santander/Mouro Capital, Fondazione Compagnia di San Paolo together with Intesa Sanpaolo and Fondazione Cariplo, APG Asset Management on behalf of Dutch pension fund ABP, Wallenberg Investments and Allianz, alongside the EC. Further fundraising will continue with the aim of reaching a target of €5 billion.