The European Commission has completed final legal steps to establish the EU’s Scaleup Europe Fund, ready to start boosting Europe’s scale-up companies to grow faster and compete globally with a target of €5 billion.
The Scaleup Europe Fund was first announced by European Commission president Ursula von der Leyen in 2025 to help ensure that Europe’s most promising companies can grow into global leaders. While Europe has strong scientific excellence and a solid startup pipeline, many high-potential firms have had to look abroad for the capital needed to scale. The fund was created to help close this gap and keep the value of European innovation in Europe.
“Today’s announcement marks a change in the investment landscape for European technology companies”, said Ekaterina Zaharieva, Commissioner for Startups, Research and Innovation: “With the Scaleup Europe Fund we are building on Europe’s scientific prowess and strong performance in startups and closing the financing gap for our most promising companies to become global leaders while maintaining their base in Europe.”
With the adoption of the Fund’s legal documentation, the Scaleup Europe Fund is established as part of the European Innovation Council Fund. Private equity firm EQT has taken up its role as investment manager and is now empowered to take investment decisions independently and on market terms.EQT was selected through an open and competitive process.
The fund is now able to operate at full capacity, investing directly in Europe’s leading scaleup companies.
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 strong coalition of public and private partners including Novo Holdings, EIFO (the Export and Investment Fund of Denmark), CriteriaCaixa, Santander/Mouro Capital, Fondazione Compagnia di San Paolo together with Intesa Sanpaolo and Fondazione Cariplo, APG Asset Management on behalf of Dutch pension fund ABP, Wallenberg Investments and Allianz, alongside the Commission. Further fundraising will continue with the aim of reaching a target of €5 billion.
