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Scaleup Europe Fund

European Union · Framework · European Commission

Our summary

The European Commission and founding private investors established a five billion euro investment vehicle to provide growth-stage capital to European companies developing strategic technologies including artificial intelligence, semiconductors, quantum systems, and clean energy. The fund targets companies seeking investments of 100 million euros or above that operate in or plan to locate to EU member states or associated countries. Operations began in 2026 with EQT selected as the independent manager responsible for sourcing deals and making investment decisions on commercial grounds.

Written by the Index in our own words. It is not legal advice; the official text is the authority.

Inside this policy

Every section of this policy in order. Our notes summarise each one in plain language and do not quote the official text, which is the authority.

Drafted by the Index An automated summary of the official text, not yet reviewed by a person.Reviewed Checked by a person against the official text.

7 sections

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Europe’s new multi-billion late-stage and growth Fund to invest in our most promising, strategic companies

A multi-billion investment fund aims to finance the most promising European businesses developing key technologies: artificial intelligence, quantum computing, semiconductors, robotics, autonomous systems, energy, space, biotechnology, medical devices, advanced materials, and agricultural technology across all EU regions.

Powered by Europe’s top investors

1 section

The Fund combines public Commission investment with private investors including Novo Holdings, Danish and Spanish funds, Italian foundations, Dutch pension funds, Wallenberg Investments and Allianz. EQT was selected as the independent fund manager for the EUR 5 billion initiative to support deep technology companies.

Drafted by the Index
  1. What’s next

    EQT and the EIC Fund are developing the foundational legal documentation to establish the Fund's structure, governance and investment framework. Founding investors are completing their internal approval procedures in parallel, with both processes anticipated to finish within weeks, enabling first closing and commencement of investment operations. Initial investments are planned to begin in autumn 2026.

    Drafted by the Index

Questions and answers

3 sections
  1. General

    The Fund addresses a shortage of European investment capital for promising technology companies seeking to scale internationally; EQT manages it independently with commercial investment criteria; the Commission contributes EUR 1 billion as a founding investor on equal terms; the fund responds to the Draghi Report's recommendation to close Europe's deep-tech financing gap.

    Drafted by the Index
  2. Targeted at companies

  3. Targeted at investors

    EQT operates as an independent manager making all investment decisions on commercial and merit-based grounds following the Fund's Investment Guidelines, with the European Commission and other investors participating in governance as investors but not directing individual investment choices. This independence ensures the Fund maintains market credibility and agility needed to compete effectively.

Controls

What this policy requires, forbids, grants or penalises, one control at a time and in our own words. Each control links to the official text, which is the authority. This is not legal advice.

Drafted by the Index Drafted automatically from the official text, not yet reviewed by a person.Reviewed Checked by a person against the official text.

Themes covered 1 of 35

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Risk and scope 0 of 4

  • Risk classification, not covered
  • Prohibited practices, not covered
  • Risk management system, not covered
  • Impact assessment, not covered

Data and privacy 0 of 4

  • Data governance and quality, not covered
  • Data subject rights and consent, not covered
  • Cross-border data transfer, not covered
  • Copyright and training data, not covered

Transparency and records 0 of 4

  • Transparency and disclosure to users, not covered
  • Labelling of synthetic content, not covered
  • Technical documentation, not covered
  • Record keeping and logging, not covered

Technical safeguards 0 of 4

  • Human oversight, not covered
  • Accuracy, robustness and cybersecurity, not covered
  • Bias and non-discrimination, not covered
  • Testing and evaluation, not covered

Assurance and lifecycle 0 of 4

  • Conformity assessment and certification, not covered
  • Registration and notification, not covered
  • Incident and breach reporting, not covered
  • Post-market monitoring and corrective action, not covered

Rights and protected groups 0 of 4

  • Automated decision-making rights, not covered
  • Children and vulnerable groups, not covered
  • Biometric identification and surveillance, not covered
  • Whistleblowing, complaints and redress, not covered

Roles and organisation 1 of 6

  • Supply chain and provider-deployer duties, not covered
  • General purpose and foundation models, not covered
  • Training and AI literacy, not covered
  • Public sector use and procurement, not covered
  • Innovation support and sandboxes, not covered

Enforcement and sectors 0 of 5

  • Enforcement, penalties and regulators, not covered
  • Sector rules: health, not covered
  • Sector rules: finance and insurance, not covered
  • Sector rules: employment, not covered
  • Sector rules: education, not covered

6 controls

Group by

What’s next 2 controls

  1. ObligationApplies to: ProviderDrafted by the Index

    EQT and the EIC Fund will complete the foundational legal agreements defining the Fund's structure, governance and investment framework.

    What’s next
  2. ObligationApplies to: ProviderDrafted by the Index

    The Scaleup Europe Fund is set to commence its first investments in autumn 2026.

    What’s next

General 3 controls

  1. ObligationApplies to: ProviderDrafted by the Index

    EQT will operate as an independent, commercially-driven fund manager making professional investment decisions.

    General
  2. ObligationApplies to: Public authorityDrafted by the Index

    The European Commission will contribute EUR 1 billion to the Scaleup Europe Fund as a founding investor.

    General
  3. ObligationApplies to: ProviderDrafted by the Index

    EQT will lead a second fundraising round following the first closing to broaden the investor base.

    General

Targeted at companies 1 control

  1. ObligationApplies to: ProviderDrafted by the Index

    The selection of investee companies must be conducted through a process that is open, transparent and based on merit in accordance with the Investment Guidelines.

Change history

No changes recorded since we began monitoring this policy.