EU Commission joins forces with deep tech investors
On 22th October, the EU Commission launched a ‘Trusted Investor Network’. With this group of initially 71 investors, the EU aims to promote innovative deep-tech companies throughout Europe. The investor group represents assets of over 90 billion euros and is therefore a key element in mobilising capital for the European deep-tech sector.
The EU will provide investment from the European Innovation Council (EIC) fund, while the investor network will pool resources from venture capital funds, public investment banks, foundations and corporate risk funds. Earlier this year, the participants committed to co-investing with the EIC fund as part of a charter of the Trusted Investors Network to both mobilise venture capital for innovative companies and share best practices in investing in the deep tech sector with the EU.
The establishment and further development of such a network is also in line with the political guidelines and strategic priorities of the next EU Commission. With the network, the Commission hopes to improve the investment behaviour of the EIC Fund, which has now invested almost one billion euros in 251 of Europe’s most promising start-ups and is currently preparing to support a further 241 innovative companies. The aim is to mobilise venture capital in a more targeted manner for scale-up financing for high-risk deep-tech companies that have great potential but have often had difficulty finding the right investors on the European market. The first financing rounds of the Trusted Investor Network are expected shortly.
Source: Report from Brussels No. 32 of 29th October 2024
