A new Scaleup Europe Fund is being established with founding investors including the European Commission, Novo Holdings, Santander/Mouro Capital, and Allianz, targeting deep-tech areas such as artificial intelligence, quantum computing, clean energy, and space technology.

The European Union has chosen EQT AB to manage the 5 billion euro Scaleup Europe Fund, with first investments expected to begin in autumn 2026.

EQT has been designated as the preferred investment adviser and fund manager by the European Commission and founding investors, as part of the EU Startup and Scaleup Strategy to bridge Europe’s scaleup funding gap.

The fund is being designed with market-standard governance and commercial terms, with its ultimate size to be determined by fundraising outcomes, and a hard cap to be set later.

Industry context notes concerns about Europe’s AI data-center infrastructure and the risk of business moving to the U.S. or China, underscoring the rationale for the fund.

Leadership and governance emphasize EQT veteran Ted Persson as co-head of the fund’s advisory team, underscoring the hub as a catalyst for scaleups rather than just a financier.

Other leaders include Victor Englesson as Co-Head of the Advisory Team and Christian Sinding as Chair of the Investment Committee, leveraging EQT’s network of industrial advisors and strategic partners.

Europe aims to help scaleups become global leaders while preserving European roots, signaling EQT’s ongoing commitment to European tech and life sciences investments beyond its current platforms.

Beyond capital, the Scaleup Europe Fund will catalyze the broader ecosystem through corporate partnerships, talent networks, and public-private collaboration to strengthen Europe’s tech landscape.

The initiative fits within Europe’s broader push for strategic autonomy in key technologies amid U.S.-China competition, addressing infrastructure and investment gaps.

The fund is part of a strategic plan to bolster domestic innovation, partnerships, talent networks, and public-private collaboration to enhance Europe’s technological leadership.

EQT will invest a significant portion of its own capital and will leverage its existing platforms—Ventures, Growth, Life Sciences, and Motherbrain—to source deals and build portfolio intelligence for scaling European tech and life sciences startups.