• The European Investment Bank (EIB) Group, together with the governments of all 27 EU Member States and private institutional investors, launches the second phase of the European Tech Champions Initiative (ETCI).
• Building on the success of the first phase, the initiative will create a pan-European investment platform to transform EU technology pioneers into global leaders.
• AltamarCAM, Azimut Holding, Banco Santander, BBVA, Compagnia di San Paolo, Danske Bank, and Green Arrow Capital are among the institutional investors pledging their support.
• ETCI 2.0 will be four times larger than its predecessor, triple the number of anchor-backed mega-funds, and expand its scope to invest in mid-sized growth funds.

Europe is scaling up its flagship initiative to support technology champions. The European Investment Bank (EIB) Group, major institutional investors and asset managers, with the backing of the governments of all 27 EU Member States, are joining forces to mobilize up to €80 billion in investments for highly innovative companies scaling up to become global leaders.

The partners met in Brussels during the ECOFIN meeting of EU finance ministers to reaffirm their support for the second phase of the European Tech Champions Initiative (ETCI 2.0). The initiative aims to channel equity financing to scaling technology companies through a stronger pan-European investment alliance.

The first phase of ETCI has already supported 15 mega-funds actively investing in European scale-ups and has helped foster the growth of 12 EU-based unicorns (scale-up companies valued at more than €1 billion).

Building on this success, the second phase of the initiative will expand significantly in both size and scope, with potential contributions from all 27 EU Member States and the active participation of private and institutional investors.

“The partnership launched today is about scale and speed, providing Europe’s pioneers with the capital they need to grow,” said Nadia Calviño, President of the EIB Group. “This is a decisive step toward closing the financing gap for scale-ups, ensuring that innovative ideas, technologies and companies created in Europe can remain and thrive in Europe.”

Romania’s Minister of Finance, Alexandru Nazare, said: “Romania was among the first countries to support the European Tech Champions Initiative, driven by the conviction that Europe must strengthen its ability to support innovative companies with high scaling potential and compete successfully in global markets. Through its participation in ETCI, Romania contributes to improving access to growth capital for technology companies, strengthening the European investment fund ecosystem, and fostering a robust flow of private capital directed toward innovation. This commitment also reinforces Romania’s national innovation ecosystem and positions the country as a credible partner in building the next generation of European technology champions.”

Private investors joining the initiative include Danske Bank (Denmark); AltamarCAM, Banco Santander, and BBVA (Spain); and Italian asset managers Azimut Holding, Green Arrow Capital, and the Compagnia di San Paolo Foundation, with additional investors expected to join over time.

Investment Objectives

ETCI 2.0 aims to raise up to €15 billion, approximately four times the size of the original fund-of-funds launched in 2023. It will then seek to mobilize up to €80 billion in total investments for more than 1,500 European scale-up companies.

The final size of ETCI 2.0 will be determined during the second half of 2026, when commitments from participating partners are finalized at the first closing. The EIB Group will invest up to €1.25 billion in the fund.

ETCI 2.0 will support both European mega-funds and, for the first time, mid-sized growth funds exceeding €300 million. The initiative is expected to act as an anchor investor in establishing more than 100 funds, including up to 45 mega-funds investing in scale-up companies, with an average investment of €200 million per company.

It will also establish a pan-European investment platform designed to create a pipeline of European technology funds while providing private investors with better market intelligence, investment opportunities, and ecosystem insights. A dedicated digital tool will support investor participation through the platform.

The initiative will broaden access to late-stage capital across Europe, strengthen links between national and European investment initiatives, and provide long-term investors with a structured route to Europe’s most promising technology companies.

ETCI 2.0 will operate alongside and complement existing national and European initiatives, including France’s Tibi, Germany’s WIN, and the European Scale-up Fund, ensuring that technology champions receive maximum support and benefit from European anchor investors while contributing to a more integrated European investment ecosystem.

By mobilizing public and private capital across borders, ETCI 2.0 will help strengthen, integrate, and improve the efficiency of Europe’s capital markets. This, in turn, will advance the EU’s Savings and Investments Union, while supporting Europe’s strategic autonomy, innovation, and productivity growth.

European Investment Bank (EIB) Group

The European Investment Bank (EIB) Group is the financing arm of the European Union, owned by its 27 Member States, and one of the world’s largest multilateral development banks.

In 2025, the EIB Group signed €100 billion in new financing and advisory operations for more than 870 high-impact projects across eight strategic priorities supporting EU policy objectives: climate and environmental action; digitalisation and technological innovation; security and defence; territorial cohesion; agriculture and the bioeconomy; social infrastructure; strong global partnerships; and the Savings and Investments Union.

In addition to providing long-term financing for major infrastructure projects, the EIB Group mobilizes private investment for innovative, higher-risk companies and projects, playing an increasingly important role in Europe’s markets for risk finance, venture capital, guarantees, and securitisation.

The European Investment Fund (EIF), the EIB Group’s specialist subsidiary, provides guarantees, securitisation, and equity financing to improve access to finance for small and medium-sized enterprises (SMEs) and start-ups across Europe. Acting as an anchor investor through its extensive network of partner banks and investment funds, the EIF mobilizes private investment and supports the development of Europe’s venture capital ecosystem to help innovative entrepreneurs grow.