EU launches €5bn Scaleup Europe Fund for tech firms
The European Commission has completed the final legal steps to establish the Scaleup Europe Fund, paving the way for investments aimed at helping Europe’s fastest-growing companies expand and compete globally, Qazinform News Agency reports.
According to a European Commission press release, the fund, launched as part of the European Innovation Council (EIC) Fund, aims to attract €5 billion in combined public and private capital. The first investments are expected in the coming weeks.
European Commission President Ursula von der Leyen said the initiative is designed to ensure European scaleups can secure the financing they need at home and grow into world-leading companies, strengthening Europe’s competitiveness through innovation.
When Europe invests in its innovators, Europe invests in its future.
— Ursula von der Leyen (@vonderleyen) August 4, 2026
This is the goal of our Scaleup Europe Fund.
From today, it will ensure our scale-ups can find what they need right here in Europe to grow into world-leading companies.
To turn European innovation into our… pic.twitter.com/yDPcRkPQSz
Private equity firm EQT has been appointed as the fund’s independent investment manager following an open and competitive selection process. The firm will make investment decisions on market terms.
The Scaleup Europe Fund will invest directly in high-growth companies developing critical technologies, including artificial intelligence, quantum technologies, biotechnology and clean technologies.
Its founding investor group includes the European Commission alongside Novo Holdings, EIFO (the Export and Investment Fund of Denmark), CriteriaCaixa, Santander/Mouro Capital, Fondazione Compagnia di San Paolo with Intesa Sanpaolo and Fondazione Cariplo, APG Asset Management on behalf of Dutch pension fund ABP, Wallenberg Investments, and Allianz. Fundraising will continue with the goal of reaching the €5 billion target.
The fund was announced by von der Leyen in her 2025 State of the Union Address to address a financing gap that has often forced Europe’s most promising companies to seek growth capital abroad. The EU’s contribution is backed by Horizon Europe, the bloc’s flagship research and innovation programme.
Earlier, Qazinform News Agency reported that the European Commission had issued a call for tenders to establish up to 7 AI Gigafactories across the European Union, with the aim of expanding the bloc’s computing capacity and strengthening its technological sovereignty in artificial intelligence.
