Brussels, August 05, 2026 – The Europe Today: The European Commission has completed the final legal procedures to establish the Scaleup Europe Fund, a major investment initiative designed to help Europe’s fastest-growing technology companies secure funding, expand globally, and strengthen the continent’s competitiveness in innovation.
According to a European Commission statement, the fund, launched under the European Innovation Council (EIC) Fund, aims to mobilise €5 billion in combined public and private investment. The first investments are expected to be made in the coming weeks.
European Commission President Ursula von der Leyen said the initiative would enable Europe’s most promising scaleups to access the financing they need within the region, allowing them to grow into globally competitive companies while reinforcing Europe’s innovation ecosystem and economic resilience.
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, ensuring commercial independence and efficiency.
The Scaleup Europe Fund will provide direct investments to high-growth companies developing strategic technologies, including artificial intelligence (AI), quantum technologies, biotechnology, and clean technologies, sectors regarded as critical to Europe’s future economic and technological leadership.
The fund’s founding investors include the European Commission, Novo Holdings, EIFO (the Export and Investment Fund of Denmark), CriteriaCaixa, Santander/Mouro Capital, Fondazione Compagnia di San Paolo in partnership with Intesa Sanpaolo and Fondazione Cariplo, APG Asset Management on behalf of Dutch pension fund ABP, Wallenberg Investments, and Allianz. Fundraising efforts will continue with the objective of reaching the €5 billion investment target.
The Scaleup Europe Fund was first announced by President von der Leyen during her 2025 State of the Union Address as part of the European Union’s strategy to address the financing gap that has historically compelled many of Europe’s most innovative companies to seek growth capital outside the continent.
The EU’s financial contribution to the initiative is supported through Horizon Europe, the bloc’s flagship research and innovation programme.
The launch of the fund complements the European Commission’s broader efforts to strengthen Europe’s technological sovereignty. Earlier, the Commission also invited tenders for the establishment of up to seven AI Gigafactories across the European Union to expand advanced computing capacity and accelerate the development of next-generation artificial intelligence technologies.
