The European Commission has chosen Swedish investment firm EQT to manage its new €5bn Scaleup Europe Fund after a closely-watched race among the region’s top firms like the UK’s Atomico and France’s Eurazeo.
The fund is set to invest in European deeptech startups working on technologies like quantum computing and AI. EQT partners Ted Persson and Victor Englesson are the proposed co-heads of the fund's advisory team, with EQT's Christian Sinding proposed to chair the investment committee, EQT said in a press release.
Around €2.5bn of the fund had been committed as of the end of last year, €1bn of which is coming from the European Innovation Council (EIC) and another €1.5bn from private LPs like Novo Holdings, CriteriaCaixa, Santander/Mouro Capital, APG Asset Management and Sweden’s Wallenberg family.
