Europe’s new multi-billion late-stage and growth Fund to invest in our most promising, strategic companies
The Scaleup Europe Fund is a new, multi-billion late-stage and growth fund aimed at investing in the most promising European companies in strategic tech areas, such as artificial intelligence, quantum technologies, semiconductor technologies, robotics and autonomous systems, energy technologies, space technologies, biotechnologies, medical technologies, advanced materials, and agritech, and across all parts of Europe.
The Scaleup Europe Fund responds to the urgent need for Europe to boost investments in scaleups and close the gap with global leaders.
Powered by Europe’s top investors
The new Scaleup Europe Fund brings new momentum to Europe’s scaleup ecosystem, anchored in public-private cooperation.
Alongside the Commission, the group of founding investors in the Fund include Novo Holdings, EIFO (Export and Investment Fund of Denmark), CriteriaCaixa, Santander/Mouro Capital, Fondazione Compagnia San Paolo/ Intesa Sanpaolo/Fondazione Cariplo, APG Asset Management, acting on behalf of Dutch pension fund ABP, Wallenberg Investments and Allianz.
The Fund will be part of the existing EIC Fund umbrella structure but with a fully privately owned and market-based fund manager.
The fund is a key initiative of the EU Startup and Scaleup Strategy, announced by Commission President Ursula von der Leyen in her 2025 State of the Union Address, aimed at making major investments in fast-growing companies in strategic tech areas, so that "the best of Europe can choose Europe".
Call for expression of interest for the Fund Manager - results announced
The European Innovation Council (EIC) Fund Board has chosen EQT as the preferred investment adviser and fund manager for the Scaleup Europe Fund, following a rigorous and highly competitive selection process to lead the EU's €5 billion initiative designed to empower the continent's most innovative deep tech scaleups.
What’s next
EQT and the EIC Fund will now finalise the Fund's foundational legal agreements, covering its structure, governance and investment framework.
The founding investors formal commitments are progressing through their respective internal due diligence and board approval processes, in parallel with the finalisation of the Fund's legal documentation. These processes are expected to conclude in the coming weeks, paving the way for first closing and the start of investment activity.
The Scaleup Europe Fund and the fund manager will be presented at the EIC Summit on 3 June 2026.
The Scaleup Europe Fund is set to make its first investments in autumn 2026.