EIFO has announced a commitment of €200 million to the Scaleup Europe Fund, an initiative that is central to the European Commission’s Startup and Scaleup Strategy aiming to make Europe the best place to grow and keep global tech companies.
In addition to EIFO, the founding investor group includes seven other institutional investors, including Novo Holdings, Sweden’s Wallenberg Investments, and Germany’s Allianz.
“Europe clearly needs stronger capital in the later growth stages if we are to retain our most promising companies on the continent. With the Scaleup Europe Fund, we are helping address a critical gap and ensuring that more of these companies stay in Denmark and Europe,” says Peder Lundquist, CEO of EIFO.
“We have been closely involved in shaping the fund’s framework, and it has been essential for us to ensure a commercially viable model that can attract the strongest European companies. At the same time, we’ve had a clear focus on ensuring the fund also benefits Denmark. We’re therefore pleased that it targets several areas of Danish strength,” adds Erik Balck Sørensen, CIO of EIFO, who expects one or more Danish investments from the fund.
The Scaleup Europe Fund will invest in the most promising technology companies in Europe, covering a range of strategically important sectors, including artificial intelligence, quantum technology, robotics, energy technology, space technology, BioTech, MedTech, and AgriTech.
It aims to close the late-stage financing gap that has too often pushed European scaleups to raise capital outside Europe, prompting them to stay in Europe instead.
The Commission and top-tier private investors from across Europe jointly expressed the intention to establish the Scaleup Europe Fund in October 2025.
As the only state-backed anchor investor in the fund, EIFO hopes innovation in these areas will drive European resilience and competitiveness at a time of global volatility and will directly support EIFO’s commercial strategy to help more promising growth companies scale in Denmark.
EIFO is the national promotional bank and export credit agency of Denmark combined in one financial institution. Active in over 100 countries, and with a total business volume of more than €20 billion, EIFO provides financial solutions for Danish companies and their global partners, while also investing in startups and funds.
According to EIFO, despite a strong legacy of innovation, of the 14 Danish-founded companies that have become unicorns since 2000, only six retained a Danish or European base.
EIFO’s investment will enable access to growth capital at critical later stages, empowering companies to scale whilst retaining their footprint within Europe.
The fund is expected to make approximately 30 to 40 investments in total, with the first already anticipated in autumn 2026. It will be established within the EIC Fund structure but managed by an independent, private, market-based fund manager in the form of Swedish EQT.
“EIFO’s commitment is a powerful signal and a reflection of the leadership the founding investors have shown in making this fund a reality. Europe has the talent, the technology and the ambition to produce the next generation of global tech leaders. What has been missing is the capital and conviction to back them at scale and speed. With the Scaleup Europe Fund, we are here to change that,” says Christian Sinding, Institutional Partner at EQT and Chair of the Investment Committee for the Scaleup Europe Fund.
The Fund is part of the existing EIC Fund umbrella structure, and it will be run by a privately-owned and market-based fund manager, ensuring independent and market-based investment decision-making.
A further fundraising round, led by the selected fund manager, is anticipated in the second half of 2026, opening the Fund to additional investors aligned with its objectives.
