Europe launches €80 billion investment alliance to scale up tech leaders

The European Investment Bank (EIB) Group, together with major institutional investors, asset managers, and the governments of all 27 EU countries, has launched the second phase of the European Tech Champions Initiative (ETCI 2.0) to mobilize up to €80 billion for highly innovative companies scaling up to become global leaders, according to a press release by the EIB Group. The parties met in Brussels in the margins of the ECOFIN meeting of EU finance ministers to endorse the initiative. ETCI 2.0 aims to channel equity investments to tech scaleups through a stronger pan-European investment alliance. It will be four times bigger than its predecessor. The platform seeks to turn EU tech pioneers into global leaders.

The first phase of the ETCI has supported 15 mega-funds actively investing in European startups and nurtured the development of 12 EU-based “unicorns,” scaleups valued at more than €1 billion. Building on this success, the second phase will significantly grow in both size and scope. It will benefit from potential support from all EU27 countries and active participation from private and institutional investors. Private investors joining the initiative include Danske Bank from Denmark, Spain-based AltamarCAM, Banco Santander, and BBVA. Italian asset managers Azimut Holding, Green Arrow Capital, and the foundation Compagnia di San Paolo are also participating, with more to join at a later stage.

ETCI 2.0 has a target fundraising size of up to €15 billion, around four times bigger than the original fund of funds launched in 2023. It will then seek to mobilize total investments of up to €80 billion for more than 1,500 scaleups in Europe. The final size will be determined in the second half of 2026, when contributions from all participating parties are finalized in a “first closing.” The EIB Group will invest up to €1.25 billion into the fund. It is expected to anchor the creation of more than 100 funds in total, including up to 45 mega-funds.

ETCI 2.0 will support European mega-funds and, for the first time, mid-sized growth funds of more than €300 million, with average ticket sizes of €200 million for each individual company. It will also establish a pan-European investment platform providing a pipeline of European tech funds, market intelligence, and ecosystem insights. A digital tool will support investor engagement. “The partnership launched today is all about scale and speed, powering European pioneers with the capital they need to grow,” said EIB Group President Nadia Calviño. She added that the step addresses the funding gap for scaleups.

The initiative will work in tandem with national and European programs, including the French “Tibi” initiative, the German “WIN,” and the Scaleup Europe Fund. It will expand access to late-stage capital across Europe and strengthen links between national and European investment initiatives. By mobilizing public and private capital across borders, ETCI 2.0 will contribute to deeper, more integrated European capital markets. This will advance the EU’s Savings and Investment Union. It will also reinforce European strategic autonomy, innovation, and productivity growth.