The European Commission has announced that EQT has been selected as the preferred investment adviser and fund manager for the new €5 billion Scaleup Europe Fund. This initiative, the largest of its kind in Europe, is a central pillar of the EU Startup and Scaleup Strategy and is designed to provide late-stage growth capital for deep-tech companies.
The fund will target firms operating in strategic sectors such as artificial intelligence, quantum computing, semiconductors, clean technology, biotechnology, medical technologies, space, and dual-use technologies. Its purpose is to address the financing gap that has often forced promising European scaleups to seek investment abroad, helping them remain headquartered and operational within Europe as they expand.
EQT was chosen after a competitive process that assessed investment expertise, fundraising capacity, and operational experience in scaling technology companies. The initiative is being developed in collaboration with major European institutional investors and financial organizations, including Novo Holdings, Allianz, CriteriaCaixa, ABP, and Santander/Mouro Capital.
Legal agreements and investor approvals are currently underway, with the Scaleup Europe Fund expected to begin operations in autumn 2026. The initiative will be formally presented at the EIC Summit on 3 June 2026.
The fund reflects Europe’s recognition that strategic technologies are increasingly tied to economic security and geopolitical influence. By creating a large-scale growth capital vehicle, EU policymakers aim to reduce reliance on foreign financing, retain innovation and industrial capacity, and strengthen Europe’s technological leadership.
