The fund seeks to counter a “clear funding gap” that European companies experience when scaling risky, capital-intensive technologies that need investments above €100 million.
The lack of scale-up capital “poses several risks for the EU,” such as the loss of companies and critical technologies domestically, according to the plan.
“A European scale-up with critical mass, operating at market conditions, is needed to fill this gap and strengthen the EU’s economic security and tech sovereignty,” it reads.
The draft — which contains more details on the fund than a version reported previously by POLITICO — shows the Commission is upping its efforts to invest in the bloc’s highest potential companies.
The fund would allow the Commission and investors to take a direct stake in companies operating in strategic sectors such as artificial intelligence, quantum technology, clean tech, semiconductors, advanced materials and biotech.
The EU’s European Innovation Council has already made such investments, but only for much smaller companies that are just starting up.
