Today, the European Commission finalized all necessary legal procedures to establish the “Scaleup Europe Fund,” — the European Commission reported on its website.
According to the Commission, the fund will support the development of European startups at the scaling stage, enabling them to grow faster and compete on the global market.
The target volume of the fund is 5 billion euros.
“When Europe invests in its own innovators, it invests in its future. That is precisely the goal of our Scaleup Europe Fund. As of today, the fund guarantees that European startups will have access right here in Europe to the resources that will help them transform into world-class companies. Our task is to turn European innovation into a competitive advantage,” said European Commission President Ursula von der Leyen.
The fund is now fully operational and able to make direct investments in leading European startup companies at the scaling stage.
The fund’s first investments are expected in the coming weeks. The fund will support companies at the scaling stage in critical technology sectors, including artificial intelligence, quantum technologies, biotechnology, and clean tech.
