Following a competitive selection process, the European Innovation Council (EIC) has chosen EQT as fund manager and lead adviser for the future Scaleup Europe Fund, which will have a budget of €5 billion (see EUROPE 13768/9).
The fund is intended to boost investment in young, fast-growing companies in critical technology sectors such as artificial intelligence, biotechnology and clean energy.
According to the Commission, EQT is an international investment company deeply rooted in the European Union, with a robust institutional structure and genuine pan-European expertise.
Ahead of the EIC Summit, on Wednesday 3 June, the European Innovation Council and EQT will finalise the legal agreements underpinning Scaleup Europe. At the same time, the initial investors – including Novo Holdings, EIFO, CriteriaCaixa, Intesa Sanpaolo and Allianz – will fulfil their specific commitments.
The future Fund’s first investments are expected to be made next autumn. (Original version in French by Mathieu Bion)