Europe is expanding its flagship initiative to support tech champions, as the European Investment Bank (EIB) Group, and major institutional investors and asset managers together with the support of the governments of all 27 EU countries are teaming up to mobilise up to €80 billion for investment into highly innovative companies scaling up to become global leaders.
The parties met in Brussels, in the margins of the ECOFIN meeting of EU finance ministers, to give their backing for the second phase of the European Tech Champions Initiative, or ETCI 2.0. The Initiative aims to channel financing in the form of equity investments to tech scaleups through a stronger pan-European investment alliance.
The first phase of the ETCI has already supported 15 mega-funds actively investing in European startups seeking to scale up and nurtured the development of 12 EU-based “unicorns” (scaleups valued at more than €1 billion).
Building on this success story, the second phase of the initiative will significantly grow in both size and scope, with potential support from all EU27 countries and the active participation of private and institutional investors.
“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. “This is a decisive step to address the funding gap for scale ups, making sure that ideas, technologies and innovative firms born in Europe can stay and thrive in Europe.”
Irish Finance Minister Simon Harris said, in the context of Ireland's Presidency of the Council of the European Union: “Ireland supports the launch of the European Tech Champions Initiative 2.0, which marks an important step in closing Europe’s scale-up financing gap. The inclusion of mid-sized funds to ensure scale-up needs at all stages can be met and the involvement of institutional investors to mobilise private capital at scale are crucial developments, further aligning the initiative with Europe’s competitiveness agenda.”
The 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 foundation Compagnia di San Paolo, with more joining at later stage.
Investment Targets
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 mobilise total investments of up to €80 billion for more than 1,500 scaleups in Europe.
The size of ETCI 2.0 will be determined in the second half of 2026 when contributions from all participating parties are finalised in what is known as a “first closing”. The EIB Group will invest up to €1.25 billion into the fund.
ETCI 2.0 will support European mega-funds and, for the first time, mid-sized growth funds of more than €300 million. It is expected to anchor the creation more than 100 funds in total, including up to 45 mega-funds that will invest into scaleups with average ticket sizes of €200 million for each individual company.
It will also establish a pan-European investment platform that provides a pipeline of European tech funds, enhancing private investors’ awareness of opportunities, market intelligence, and ecosystem insights. A digital tool is made available to support the Investment Platform in facilitating investor engagement.
In doing so, ETCI 2.0 will expand access to late-stage capital across Europe, strengthen links between national and European investment initiatives and give long-term investors a structured route into Europe’s most promising growth-stage tech companies.
It will work in tandem with and complement various national and European initiatives to ensure that tech champions receive maximum support and remain anchored in Europe, including the French “Tibi” initiative, the German one known as “WIN”, and the Scaleup Europe Fund, contributing to a more federated European investment ecosystem.
By mobilising public and private capital across borders, ETCI 2.0 will contribute to deeper, more integrated and more efficient European capital markets. That in turn will advance the EU’s Savings and Investment Union, and reinforce European strategic autonomy, innovation and productivity growth.
EIB Group
The European Investment Bank (EIB) Group is the financing arm of the European Union, owned by the 27 Member States, and one of the largest multilateral development banks in the world. In 2025, the EIB Group signed €100 billion in new financing and advisory services for over 870 high-impact projects under eight core priorities that support EU policy objectives: climate action and the environment, digitalisation and technological innovation, security and defence, territorial cohesion, agriculture and the bioeconomy, social infrastructure, strong global partnerships and the savings and investments union. Beyond long-term loans for large infrastructure, the EIB Group crowds in private investment for high-risk innovative projects and businesses, with a growing role in Europe’s markets for venture debt, venture capital, guarantees and securitisations.
The European Investment Fund (EIF) is the subsidiary of the EIB Group specialised in providing guarantees, securitisation and equity to improve access to finance for small and medium-sized businesses and startups across Europe. Acting as an anchor investor, through its extensive network of partnering banks and investment funds, the EIF mobilises private investment and nurtures the ecosystem of venture capital funds to support innovative European entrepreneurs.
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The private investors joining the initiative include Danske Bank from ...
