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European Investment Bank Launches 80 bn ETCI 2.0 to Fund Next-Generation Tech Scale-Ups
On 14 July 2026, the European Investment Bank (EIB) Group announced the launch of the second phase of the European Tech Champions Initiative (ETCI 2.0). The initiative is designed to mobilise up to €80 bn (US$91 bn) of total investment for more than 1,000 European technology scale‑ups, with the EIB Group committing up to €15 bn of core capital.
ETCI 2.0 will operate as a fund‑of‑funds platform. The EIB Group will invest up to €1.25 bn of its own capital into the core pot, a move intended to attract additional private investment from institutional investors and national governments. The structure will create over 100 investment funds, including mid‑size growth funds that target earlier scaling stages and up to 45 mega‑funds that will write late‑stage equity checks averaging €200 m (US$228 m) per company.
The initiative was unveiled in Brussels on the sidelines of the European Council’s ECOFIN meeting, where all 27 EU member states and major private investors signed up. The EIB Group said the platform will provide a pan‑European investment hub that gives private investors direct market intelligence, ecosystem insights and a structured route into the continent’s most promising growth‑stage tech companies.
The first phase of ETCI, launched in 2023, supported 15 funds across the EU and helped create 12 unicorns. The new phase is roughly four times larger than its predecessor, with a target fundraising size of €15 bn. The EIB Group’s direct investment of €1.25 bn is intended to catalyse a total of €80 bn in capital for scale‑ups.
"The partnership is all about scale and speed, powering European pioneers with the capital they need to grow," said Nadia Calviño, President of the EIB Group. "This is a decisive step to address the funding gap for scale‑ups, making sure that ideas, technologies and innovative firms born in Europe can stay and thrive in Europe."
Simon Harris, Ireland’s Minister for Finance, echoed the sentiment. "Ireland supports the launch of the European Tech Champions Initiative 2.0, which marks an important step in closing Europe’s scale‑up financing gap," he said. "The inclusion of mid‑sized funds to ensure scale‑up needs at all stages can be met and the involvement of institutional investors to mobilise private capital at scale are crucial developments, further aligning the initiative with Europe’s competitiveness agenda."
Private investors already backing the initiative include Danske Bank, Banco Santander, BBVA, AltamarCAM, Azimut Holding and Green Arrow Capital. The EIB Group said the digital platform will enable these investors to access a curated pipeline of high‑growth companies across software, green‑tech engineering and other deep‑tech sectors.
ETCI 2.0 is part of the EU’s broader strategy to strengthen the continent’s technology ecosystem. It complements existing programmes such as InvestEU and the European Investment Fund’s (EIF) support for venture and private equity funds. The initiative also aligns with the European Commission’s objective to close the funding gap that has historically limited the ability of European scale‑ups to compete with U.S. and Asian peers.
The initiative’s first closing is expected in the second half of 2026, when each participating party will finalise its contribution. The EIB Group said the final size of the fund will be confirmed at that time.
As of the announcement, ETCI 2.0 has already attracted significant interest from institutional investors and national governments. The initiative is positioned to become a key driver of European technology growth, providing the capital required for companies to scale globally without relocating operations to the United States.
The European Investment Bank Group’s launch of ETCI 2.0 marks a substantial commitment to European tech innovation, with the potential to create a new generation of technology leaders that can compete on the world stage.
ETCI 2.0 will operate as a fund‑of‑funds platform. The EIB Group will invest up to €1.25 bn of its own capital into the core pot, a move intended to attract additional private investment from institutional investors and national governments. The structure will create over 100 investment funds, including mid‑size growth funds that target earlier scaling stages and up to 45 mega‑funds that will write late‑stage equity checks averaging €200 m (US$228 m) per company.
The initiative was unveiled in Brussels on the sidelines of the European Council’s ECOFIN meeting, where all 27 EU member states and major private investors signed up. The EIB Group said the platform will provide a pan‑European investment hub that gives private investors direct market intelligence, ecosystem insights and a structured route into the continent’s most promising growth‑stage tech companies.
The first phase of ETCI, launched in 2023, supported 15 funds across the EU and helped create 12 unicorns. The new phase is roughly four times larger than its predecessor, with a target fundraising size of €15 bn. The EIB Group’s direct investment of €1.25 bn is intended to catalyse a total of €80 bn in capital for scale‑ups.
"The partnership is all about scale and speed, powering European pioneers with the capital they need to grow," said Nadia Calviño, President of the EIB Group. "This is a decisive step to address the funding gap for scale‑ups, making sure that ideas, technologies and innovative firms born in Europe can stay and thrive in Europe."
Simon Harris, Ireland’s Minister for Finance, echoed the sentiment. "Ireland supports the launch of the European Tech Champions Initiative 2.0, which marks an important step in closing Europe’s scale‑up financing gap," he said. "The inclusion of mid‑sized funds to ensure scale‑up needs at all stages can be met and the involvement of institutional investors to mobilise private capital at scale are crucial developments, further aligning the initiative with Europe’s competitiveness agenda."
Private investors already backing the initiative include Danske Bank, Banco Santander, BBVA, AltamarCAM, Azimut Holding and Green Arrow Capital. The EIB Group said the digital platform will enable these investors to access a curated pipeline of high‑growth companies across software, green‑tech engineering and other deep‑tech sectors.
ETCI 2.0 is part of the EU’s broader strategy to strengthen the continent’s technology ecosystem. It complements existing programmes such as InvestEU and the European Investment Fund’s (EIF) support for venture and private equity funds. The initiative also aligns with the European Commission’s objective to close the funding gap that has historically limited the ability of European scale‑ups to compete with U.S. and Asian peers.
The initiative’s first closing is expected in the second half of 2026, when each participating party will finalise its contribution. The EIB Group said the final size of the fund will be confirmed at that time.
As of the announcement, ETCI 2.0 has already attracted significant interest from institutional investors and national governments. The initiative is positioned to become a key driver of European technology growth, providing the capital required for companies to scale globally without relocating operations to the United States.
The European Investment Bank Group’s launch of ETCI 2.0 marks a substantial commitment to European tech innovation, with the potential to create a new generation of technology leaders that can compete on the world stage.
