EU’s €5bn tech superfund officially open for business
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The European Commission's €5bn Scaleup Europe Fund, run by EQT, has completed legal proceedings and begun investing after a year of preparation. The fund targets investments of €100m–500m per deal with a pipeline of over 100 startups, and is reportedly in talks to lead funding rounds for Mistral (€3bn target) and The Exploration Company (~$350m). European startups now have access to large-scale capital from a dedicated EU fund aimed at building world-leading companies within the continent.