EQT, Eurazeo, Atomico, Vitruvian Partners, and Northzone have been shortlisted to manage the European Union’s planned €5bn technology investment fund, according to sources cited by Bloomberg.

The vehicle, known as the Scaleup Europe Fund, aims to support companies working in strategic sectors including artificial intelligence, quantum computing, robotics, clean energy, and biotechnology.

The European Commission is expected to appoint an external manager in April. The fund will operate as a public-private partnership, with commitments from institutional investors including pension funds alongside EU capital.

German insurer Allianz has signed a letter of intent to participate as a founding investor. Other potential anchor backers include Wallenberg Investments, the European Investment Bank, Denmark’s EIFO, Spain’s CriteriaCaixa, and Novo Holdings.

The €5bn vehicle, equivalent to approximately $5.8bn, could ultimately grow to €25bn as additional investors join.

The initiative reflects growing efforts by European policymakers to strengthen domestic technology champions and close the region’s scale-up financing gap.

If you think we missed any important news, please do not hesitate to contact us at [email protected].

Can`t stop reading? Read more.