EQT Plans to Invest EU’s €5bn ScaleUp Fund in UK Startups
Swedish investment giant EQT has signalled its intention to deploy capital from the EU’s landmark €5bn ScaleUp Fund into UK startups even though the fund currently does not carry a mandate to invest outside the European Union. EQT EU ScaleUp Fund UK startups ambitions were disclosed directly to Sifted by the firm’s leadership, marking a potentially significant development for Britain’s post-Brexit tech ecosystem.
EQT this week was appointed by the European Commission to oversee the €5bn Scaleup Europe Fund, a new investment vehicle designed to support the growth of European technology champions across strategic sectors including artificial intelligence, quantum computing, clean energy and space technology. The fund is expected to begin deploying capital in autumn 2026.
UK Inclusion Could Reshape Post-Brexit Tech Ties
The fund will target privately held technology companies from Series B funding onwards, as part of efforts to strengthen Europe’s late-stage venture ecosystem at a time when many successful companies have historically been acquired by foreign buyers or moved their listings to overseas markets.
EQT’s CEO highlighted the scale of Europe’s challenge, noting that over the last 50 years the US produced more than 250 startups that reached a market cap of $10 billion or more, while Europe managed just 14.
EQT Partners Ted Persson and Victor Englesson are the proposed co-heads of the fund’s advisory team, with Christian Sinding proposed to chair the investment committee. Around €2.5bn of the fund had been committed as of the end of last year, with €1bn from the European Innovation Council and another €1.5bn from private LPs including Novo Holdings, CriteriaCaixa, Santander/Mouro Capital, APG Asset Management and Sweden’s Wallenberg family.
Whether a UK extension to the mandate formally pursued remains to be seen, but EQT’s stated appetite signals that London’s startup scene could yet benefit from Europe’s most ambitious tech fund to date
