Scaleup Europe Fund invests in ElevenLabs
Funding Provisional 72% confidence first seen
The Scaleup Europe Fund—a €5B vehicle backed by the European Commission and managed by EQT—is reported to be in early talks to invest in ElevenLabs’ next funding round. The article says ElevenLabs is hoping to raise over $500M, and if an agreement is reached the fund would provide late-stage capital from a Europe-focused source rather than relying on US investors; however, no deal is guaranteed. The report notes ElevenLabs closed a $500M round in February at an $11B valuation, making this a potentially significant follow-on for scaling within Europe.
The deal
ElevenLabs $500M Late stage · announced 18 Sep 2026
Investors Scaleup Europe Fund
Deal terms as reported in the coverage below.