BRUSSELS, BELGIUM / RankWire.AI / – In Brussels, on August 4, 2026, the European Union officially announced the creation of the Scaleup Europe Fund, targeting a €5 billion fundraising goal. The European Commission finalized the legal setup of this fund as part of the European Innovation Council Fund. Managed by EQT, the fund will follow commercial guidelines for selecting investments. The Commission anticipates initial deals to commence within weeks, as the fundraising process is still underway.
A €1 billion contribution from the European Commission, supported by Horizon Europe funding, has already been committed. Additional capital from public and private founding investors is expected to be secured at the first closing. While €5 billion remains the target, this figure is not yet confirmed as the final total, and officials have not disclosed the amount of capital expected at the initial closing. EQT retains the option to raise further commitments as the investor base expands.
This fund aims to provide late-stage financial support to European companies working on strategic technological advancements. EQT will evaluate opportunities through an open, merit-based process, managing the portfolio and making independent investment decisions. Although investors will participate in governance, they will not have the authority to select specific companies. The management mandate was awarded to EQT following a competitive process organized for the new fund.
Fund Focuses on Key Technology Sectors
The Scaleup Europe Fund’s scope includes artificial intelligence, quantum technology, semiconductors, robotics, and autonomous systems. It also encompasses energy, space, biotechnology, medical technology, and advanced materials. Companies in agritech can qualify within the approved investment parameters. The fund’s main focus is on enterprises requiring substantial growth financing rounds, targeting sectors such as digital technology, industrial systems, and life sciences.
Typically, individual investments are expected to be around €100 million or more, including follow-on funding. The fund supports privately held firms from Series B stage onward. Applicants must operate in an eligible country or plan to establish a presence there, with eligible locations including EU member states and certain associated countries with Horizon Europe. Past support from European Innovation Council programs will not automatically guarantee selection.
Collaborative Investment Drive with Public and Private Stakeholders
Initial participants include Novo Holdings, EIFO, CriteriaCaixa, Santander, and Mouro Capital. Italian investors such as Intesa Sanpaolo, Fondazione Cariplo, and Fondazione Compagnia di San Paolo are also involved. Dutch pension fund ABP’s partner, APG Asset Management, is participating, alongside Wallenberg Investments and Allianz. EQT intends to contribute its own capital alongside the other investors.
This initiative aligns with the EU Startup and Scaleup Strategy. European Commission President Ursula von der Leyen unveiled this plan during her 2025 State of the Union address. The fund aims to boost growth capital availability for strategic European tech firms. No specific recipients or individual investment amounts have been disclosed, but EQT will select the initial companies under the fund’s approved commercial framework.