The European Commission has finalized legal steps to establish the Scaleup Europe Fund, which will commence investing in European scaleup companies to foster global competitiveness. The fund, part of the European Innovation Council Fund, is managed by private equity firm EQT, selected through a competitive process. With a target of €5 billion, the fund will prioritize investments in critical technologies such as artificial intelligence, quantum technologies, biotechnology, and clean energy. Initial investments are expected within weeks, supporting European startups in these sectors. The initiative aims to bridge financing gaps for high-potential firms, retaining innovation within Europe. Public and private partners, including Novo Holdings, Denmark’s Export and Investment Fund, and APG Asset Management, form the founding investor group. Further fundraising will pursue the €5 billion goal, backed by Horizon Europe’s research program.
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