10 Dec 2024
The European Tech Champions Initiative (ETCI), managed by the European Investment Fund, yesterday announced that it has allocated nearly €1 billion to four strategic funds in its first year, including Atomico and Keensight Capital, in an effort to propel forward the EU tech sector with potential leverage of up to €6 billion.
The ETCI fund-of-funds was inaugurated in February 2023 with an initial pledge of €3.75 billion from the European Investment Bank Group and five EU member states (Spain, Germany, France, Italy and Belgium).
The ETCI aims to bolster the European Union’s digital transformation and assist leading-edge scale-ups by focusing investments on deep tech firms in their late-stage growth phases, especially those seeking to raise over €50 million.
Earlier this week in Brussels, the EIF gave an update on the initiative, and we had a chance to sit down with its deputy chief executive, Roger Havenith, to talk about the announcements, the future plans for ETCI, and its complementary relationship with the EIC (Fund).
Have a listen below or on our dedicated podcast page.
About the EIC Scaling Club
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The EIC Scaling Club is a curated community where 100+ European deep tech scale-ups with the potential to build world-class businesses and solve major global challenges come together with investors, corporate innovators and other industry stakeholders to spur growth.
The top 100+ European deep tech companies will be carefully selected from a pool of high-growth scale-ups that have benefitted from EIC financial schemes, other European and national innovation programmes, and beyond.
The EIC Scaling Club is an EIC-funded initiative run in partnership by Tech Tour, Bpifrance (EuroQuity), Hello Tomorrow, Tech.eu (Webrazzi), EurA and IESE Business School.
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