European Investment Bank brings together EU governments and private investors to back tech growth
The European Investment Bank (EIB) will on Friday unveil a €15 billion initiative with EU capitals and private investors aimed at helping European technology companies scale up, President Nadia Calviño told reporters on Thursday.
The continent’s startups have for decades struggled to raise the large funding rounds needed to grow on this side of the Atlantic, often turning to US investors or relocating overseas as they expand.
“We’re catching up,” Calviño said. “Now we need to accelerate.”
Under its existing European Tech Champions Initiative, the EIB has already pooled funding with six EU governments to establish investment funds across the bloc, which in turn invest in high-growth companies.
