The potential fund could amount to €3 billion to €5 billion, depending on investor contributions.
The Commission invited several investors, including Danish Novo Holdings, the Export and Investment Fund of Denmark, Spanish CriteriaCaixa and Santander, Italian Intesa Sanpaolo, Dutch APG Asset Management, Swedish Wallenberg Investments, and Polish Development Bank Gospodarstwa Krajowego, as per the planning note.
This fund will target “strategic and enabling technologies,” such as advanced materials, clean energy, AI, semiconductors, quantum tech, robotics, space, and medical technologies.
The Commission aims to tackle the challenge of companies struggling to expand in Europe, as many seek investors from the U.S. or elsewhere for later-stage funding, leading to relocation.
The fund’s objective is to ensure startups that have completed early funding rounds can “secure scaleup financing while maintaining their headquarters and core activities in Europe,” according to the note.
This initiative follows a prior effort with the European Innovation Council Fund to take equity stakes in companies. The EIC Fund capped investments at €30 million, whereas the new fund would invest €100 million or more.
The fund will launch in April, with opportunities for additional investors to join later.
The Commission plans to begin the search for an investment adviser in November, with the process expected to conclude by January, as stated in the planning note.
Leave a Reply