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EU Taps EQT to Manage $5.8 Billion Deep-tech 'Scaleup' Fund

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The European Innovation Council selected Sweden's EQT (EQT) as investment adviser and fund manager for a 5 billion euros ($5.8 billion) scale-up fund aimed at boosting late-stage financing for Europe's most promising deep-tech companies, the European Commission said on Tuesday.

The Scaleup Europe Fund, part of the EU Startup and Scaleup Strategy, is designed to support high-growth European firms in strategic sectors, including clean energy.

It seeks to address the region's long-standing gap in growth capital that has often driven promising scaleups to seek funding outside Europe.

"The decision paves the way for the operational launch of the fund," the Commission said, adding that final contractual agreements and approvals are now underway following a public call for expressions of interest conducted between December 2025 and February 2026.

The first closing is expected in the coming weeks, with initial investments targeted for autumn 2026.

Further fundraising is planned in H1 2026 to bring in additional investors while maintaining a strong European anchor.

The fund will operate under a privately managed structure within the EIC Fund framework, with independent, market-based investment decisions, the Commission said.

The initiative is part of broader EU efforts to strengthen competitiveness in strategic technologies and reduce reliance on external capital markets for scaling European innovation.

Price: $59.33, Change: $+1.88, Percent Change: +3.27%

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