EQT Chosen to Manage €5 Billion Scaleup Europe Fund Backed by EU

In a press release, the European Commission and founding investors from across Europe announced that EQT Ventures has been selected as the preferred investment adviser and fund manager for the Scaleup Europe Fund. The fund targets €5 billion and will invest in technology scaleups across the EU and associated countries.

The Scaleup Europe Fund will focus on companies working in artificial intelligence, quantum computing, dual use technologies, clean energy, space technology, biotech, and medical innovation. EQT will also invest its own capital into the fund, which is designed with market standard governance and commercial independence.

The initiative is part of the EU Startup and Scaleup Strategy, aimed at bridging Europe's scaleup funding gap. Alongside the European Commission, founding investors include Novo Holdings, EIFO, CriteriaCaixa, Santander through Mouro Capital, Fondazione Compagnia San Paolo with Intesa Sanpaolo and Fondazione Cariplo, APG Asset Management on behalf of ABP, and Allianz.

EQT Partners Ted Persson and Victor Englesson are proposed as Co-Heads of the Scaleup Europe Fund Advisory Team, with Christian Sinding as Chair of the Investment Committee. The fund will invest from Series B onward, using tools such as EQT's Motherbrain platform for AI driven sourcing and portfolio intelligence to identify and support promising technology companies.