EU launches €5 billion Scaleup Europe Fund to back deep‑tech companies

The European Commission has completed the final legal steps to establish the Scaleup Europe Fund, a €5 billion investment vehicle aimed at supporting high‑growth technology companies across the EU. Managed by the Swedish private‑equity firm EQT, the fund will target strategic sectors such as artificial intelligence, quantum technologies, biotechnology, clean energy, space and advanced manufacturing. The initiative is part of the European Innovation Council Fund and is financed through the Horizon Europe programme, with additional capital pledged by public and private investors including Novo Holdings, EIFO, CriteriaCaixa, Santander/Mouro Capital, APG Asset Management, Wallenberg Investments and Allianz.

Commission President Ursula von der Leyen said the fund will ensure European scale‑ups can find the resources they need to become world‑leading firms. First investments are expected within the coming weeks, marking the start of a programme intended to reduce Europe’s reliance on non‑EU capital and strengthen its technological sovereignty.

The fund’s long‑term goal is to attract up to €25 billion, but the initial target of €5 billion will be mobilised immediately to provide large‑scale financing to companies poised for global competition.