EQT will lead the 5 billion euro European fund for deep tech scale-ups.

The European Innovation Fund Council has chosen EQT as the preferred investment adviser and manager of the Scaleup Europe Fund, a 5 billion euro initiative through which the European Union aims to finance high-potential deep tech companies and reduce their dependence on capital raised outside Europe.

In short

The European Innovation Fund Council has selected EQT as the preferred investment adviser and manager of the Scaleup Europe Fund.

The 5 billion euro fund is presented as the largest of its kind mobilized so far in Europe.

The Scaleup Europe Fund will finance deep tech companies in strategic sectors such as AI, quantum, dual-use technologies, clean energy, space, biotechnology, and medical innovation.

EQT and the EIC Fund will finalize the legal agreements regarding the fund's structure, governance, and investment framework.

The fund will be presented at the EIC Summit on June 3, 2026, and the first investments are expected in the fall of 2026.

The European Innovation Fund Council has selected EQT as the preferred investment adviser and manager of the Scaleup Europe Fund, following a competitive selection process for the leadership of the 5 billion euro European initiative dedicated to deep tech scaleups.

The fund is part of the EU Strategy for startups and scaleups and is presented by the European Commission as the largest fund of its kind mobilized so far in Europe. Its goal is to provide growth capital to high-potential European companies in strategic technology sectors.

The targeted areas include artificial intelligence, quantum computing, dual-use technologies, clean energy, space technology, biotechnology, and medical innovation.

The Commission states that the fund is designed to reduce the funding gap in advanced growth stages and to encourage the most promising European companies to remain in Europe.

EQT is described by the Commission as a global investment organization with European roots and experience in growth equity for high-potential technology companies. According to the Commission, EQT's pan-European presence, institutional infrastructure, and operational expertise were significant in its selection for the role of fund manager.

Today's decision paves the way for the operational launch of the fund. The completion of contractual agreements and necessary approvals is forthcoming.

The selection of EQT follows a public call for expressions of interest, conducted between December 2025 and February 2026, and after an evaluation based on investment experience, experience in scaleup investments, fundraising capability, and commitment to lead the fund with a dedicated team based in the European Union.

The Scaleup Europe Fund has been developed in collaboration with a coalition of potential founding investors, who, together with the European Commission, participated in defining the fund's structure and investment framework.

The coalition includes Novo Holdings, EIFO, Export and Investment Fund of Denmark, CriteriaCaixa, Santander/Mouro Capital, Fondazione Compagnia di San Paolo, Intesa Sanpaolo, Fondazione Cariplo, the Dutch pension fund ABP, with APG as asset manager, and Allianz.

The Commission states that this group brings together long-term European capital and reflects market confidence in the fund's structure, mandate, and potential for returns. Other investors have also expressed their interest.

EQT and the EIC Fund are set to finalize the fund's fundamental legal agreements, including structure, governance, and investment framework.

Formal commitments from founding investors are progressing through each of their internal due diligence and approval processes, alongside the completion of legal documentation. The Commission expects these processes to conclude in the coming weeks, paving the way for the first closing and the start of investment activities.

The Scaleup Europe Fund and the fund manager will be presented at the EIC Summit on June 3, 2026.

The fund's first investments are expected in the fall of 2026.

"Europe's competitiveness depends on our ability to scale our own innovation, in our own strategic sectors, with our own capital. The Scaleup Europe Fund is our bold step forward, uniting public and private capital around a common vision for European leadership. With the newly selected fund manager and a coalition of some of the most respected long-term investors in Europe, this is proof of what Europe can achieve when it aligns its resources," said Ekaterina Zaharieva, Commissioner for startups, research, and innovation.

The Scaleup Europe Fund will operate within the existing structure of the EIC Fund. It will be managed by a private and market-based manager to ensure independent investment decisions guided by market criteria.

The Commission and top-tier private investors from Europe expressed, in October 2025, their intention to create the Scaleup Europe Fund. An additional round of capital raising, led by the selected manager, is anticipated for the second half of 2026.

This round is expected to open the fund to additional investors aligned with its objectives, while maintaining a strong European anchoring in the investor base.

The Scaleup Europe Fund is designed to support European companies at the stage where they need growth capital to rapidly expand into global markets.

The European Union aims through this fund to address a recurring issue in the European innovation ecosystem: many deep tech scaleups end up seeking funding outside Europe in advanced growth stages, which can lead to the relocation of capital, strategic decisions, or technological development.

The fund is part of the broader architecture of the European Innovation Council and the EU Strategy for startups and scaleups, through which the Commission seeks to mobilize public and private capital for sectors deemed critical for Europe's competitiveness and economic security.

https://2eu.brussels/ro/stiri/eqt-va-conduce-fondul-european-de-5-miliarde-de-euro-pentru-scaleupuri-deep-tech