Scaleup Europe Fund: Several billion euros in the pot, launch planned for spring 2026
It is already eagerly awaited by some tech founders in Europe to help scale their companies in the hardened international competition – and now it is taking shape. The European Union has launched the Scaleup Europe Fund, a new investment fund for European technology companies in advanced growth phases. EU Commissioner for Startups, Research and Innovation, Ekaterina Zaharieva, presented the initiative again at the World Economic Forum in Davos and revealed some news about investors, timeline, and management.
Objectives and Structure
The Scaleup Europe Fund is intended to become the largest pan-European fund for late-stage investments and growth financing. It targets promising European companies in strategic technology sectors and is designed to enable financing rounds in the hundreds of millions range. The fund is part of the EU Startup and Scaleup Strategy, which Commission President Ursula von der Leyen announced in her 2025 State of the Union address.
Organizationally, the fund is housed at the European Innovation Council (EIC) and will operate under the umbrella of the EIC Fund structure. However, management will be carried out by a fully private, market-based, and independent fund manager.
Investment Focus Areas
The fund concentrates on strategic technology sectors, including:
- Artificial Intelligence
- Quantum Technologies
- Semiconductor Technologies
- Robotics and Autonomous Systems
- Energy Technologies
- Space Technologies
- Biotechnology and Medical Technology
- Advanced Materials
- Agricultural Technology
As Trending Topics reported, scale-ups like planqc from Germany are already eagerly anticipating the fund’s launch. “We are absolutely at the forefront of the world when it comes to basic research and talent. And we need to build on that. We are currently exporting quantum talent to the world. Of course, we don’t have anywhere near the venture capital market that the USA has, or the purely state-run labs and programs that we see in China. But I believe we can combine the best of both worlds. We now have the long-overdue EU Scale-Up Fund, which hopefully will become operational this year. I am very optimistic about this,” said CEO Alexander Glätzle in an interview.
Financing and Investors
The fund’s target volume is five billion euros. According to the EU Commission, more than half of this amount has already been committed. Potential founding investors alongside the European Commission include:
- Novo Holdings
- EIFO (Export and Investment Fund of Denmark)
- CriteriaCaixa
- Santander/Mouro Capital
- Fondazione Compagnia San Paolo/Intesa Sanpaolo/Fondazione Cariplo
- APG Asset Management (on behalf of the Dutch pension fund ABP)
- Wallenberg Investments
- BGK (Bank Gospodarstwa Krajowego)
Search for Fund Management
The EIC Fund Board has published an expression of interest for recruiting a qualified, independent, and experienced fund manager. This manager will serve as investment advisor and portfolio manager of the Scaleup Europe Fund and assume central responsibilities, including identifying investment opportunities, due diligence, investment recommendations, portfolio management, as well as fundraising and reporting.
Experienced fund managers who meet certain eligibility criteria can apply, including demonstrated capabilities in managing investment funds, professional investment experience, and expertise in growth and scaleup investments.
Following the evaluation of applications, selected candidates will be invited to a negotiation phase in March 2026. The selection of the fund manager is expected in April 2026. The launch of the Scaleup Europe Fund is planned for spring 2026, subject to the completion of necessary contractual and operational steps.
