Luxembourg-based European Investment Fund (EIF) is launching a €15 billion fund of funds to support growth-stage investors across Europe, with a first close planned for this summer, according to Sifted.
- The first European Tech Champions Initiative (ETCI 1) raised €3.9 billion and backed 14 large funds, including Atomico, Headline, and Eurazeo. Supported by the European Investment Bank and six EU countries, it has indirectly funded 40 companies, including 11 unicorns such as DeepL, TravelPerk, and Framer.
- Building on this, ETCI 2 will back around 100 funds — from €300–600 million vehicles to €1 billion+ mega funds — enabling investments of up to €200 million per company, compared to €60 million under ETCI 1.
- The initiative aims to close Europe’s late-stage funding gap and unlock up to €80 billion in scaleup financing, complementing the European Commission’s €5 billion Scaleup Europe Fund.
- EIF and the European Investment Bank have committed €1.25 billion, with additional backing expected from EU countries and private investors, including insurers and pension funds.
