On 8 December 2025, the EIC Fund Board announced the official launch of a call for expressions of interest to appoint an independent fund manager to lead the Scaleup Europe Fund — a brand-new, multi-billion-euro vehicle aimed at fueling the growth of Europe’s most promising scale-ups in strategic deep-tech sectors.
Why this fund matters
The Scaleup Europe Fund is a flagship initiative under the broader EU Startup and Scaleup Strategy — the EU’s 2025 plan to strengthen the continent’s startup-to-scaleup pipeline and ensure that Europe remains an attractive place for innovation and growth.
The new fund is designed to address one of Europe’s most persistent challenges: the lack of sufficient late-stage capital to help successful start-ups scale up within Europe, rather than relocating to bigger markets. With the Scaleup Europe Fund, the EU aims to retain home-grown talent, foster innovation, and build globally competitive European tech champions.
What’s expected
The fund will focus on high-growth companies operating in strategic and deep-tech domains, such as artificial intelligence, quantum, semiconductors, robotics, advanced materials, biotech, energy, space and more.
The fund is structured as a public–private partnership: besides the EU, a number of major European investors (pension funds, institutional investors, foundations, investment firms) have expressed their intent to become founding investors.
While the fund remains under the overarching umbrella of the EIC Fund, its operations (investment decisions, portfolio management, fundraising etc.) will be entrusted to an independent, market-based fund manager chosen through this competitive process.
Who can apply
The call is open to experienced fund managers with:
proven capability to raise and manage investment funds
documented experience in growth-stage and scale-up investments
strong track record in deep-tech or high-growth sectors
The selected fund manager will take on responsibilities including sourcing deals, due diligence, investment recommendations, portfolio management, fundraising, and reporting.
Key dates & next steps
Pre-qualification applications must be submitted by 19 January 2026, 17:00 CET.
Full submission deadline: 3 February 2026, 17:00 CET.
The selection process is expected to conclude by Spring 2026, with first investments from the fund anticipated shortly thereafter.
What this means for European innovation
The creation of the Scaleup Europe Fund marks a major step forward in Europe’s effort to close the funding gap for late-stage and high-growth companies. By blending public commitment with private investment muscle, the Fund aims to provide the “growth-capital engine” that many European scaleups need — at a size and scale that can genuinely compete globally.
For deep-tech firms in AI, quantum, semiconductors, biotech, space and more, this could mean access to the capital required to scale up, expand operations, and retain talent — all while staying in Europe. For investors and fund managers, the call offers a rare opportunity to play a pivotal role in shaping the next generation of European tech champions.
More details available here