Scaleup Europe Fund is established
The Commission has completed the final legal steps to establish the Scaleup Europe Fund as part of the European Innovation Council Fund. The purpose of the Scaleup Fund is to boost Europe’s scaleup companies to grow faster and compete globally with a target of EUR 5 billion in investments.
The Swedish private equity firm EQT, selected through an open and competitive process, has taken up its role as investment manager, and is now empowered to take investment decisions independently and on market terms.
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 coalition of public and private partners alongside the Commission.
For more information, see the Commission’s PR.