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    Home - Business - EU Commission Launches Trusted Investors Network for Deep Tech
    Business Updated:November 27, 2024

    EU Commission Launches Trusted Investors Network for Deep Tech

    By Olga Winter - EU Newsdesk2 Mins Read
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    EU Commission Launches Trusted Investors Network for Deep Tech

    Today, the Commission has launched a Trusted Investors Network bringing together a group of investors ready to co-invest in innovative deep-tech companies in Europe together with the EU. The Union’s investment comes from the European Innovation Council (EIC) Fund, which is part of the EU research and innovation programme Horizon Europe.

    The first group comprises 71 investors from across Europe, including venture capital funds, public investment banks, foundations and corporate venture funds. These investors collectively represent over €90 billion of assets, which positions the network as a key initiative to mobilise capital for Europe’s deep tech sector.

    Following preparatory meetings with investors earlier this year, Iliana Ivanova, Commissioner for Innovation, Research, Culture, Education and Youth, launched the network at an event in Athens. The participants committed to a Trusted Investors Network Charter, setting out shared values to build companies in Europe, and to co-investing with the EIC Fund. Members of the network will work together with support from the EIC to boost investment and exchange best practices when investing in the deep tech sector.

    The launch responds to the need to increase financing of such companies to grow in Europe. It provides the foundation for further development in 2025, in line with the political guidelines of the next Commission.

    It highlights the growing importance of the EIC Fund which has by now invested nearly €1 billion in 251 of Europe‘s most promising start-ups. The EIC Fund has attracted co-investments of over €4 billion from around one thousand investors, leveraging over €4 for every €1 invested. The Trusted Investor Network will further strengthen these co-investments and enable companies in critical technologies areas to access larger investments needed to compete globally.

    The launch was part of the first EIC Scaling Summit, bringing together for the first time 120 companies selected from the EIC portfolio and national programmes with the potential to scaleup and become global champions in their fields. 72 of these companies were added today to the 48 members already enrolled in the EIC Scaling Club. The EIC provides tailored support to the members of the Club, aiming to scale 20% of them into unicorns – companies with a valuation exceeding €1 billion. Collectively, these member companies have raised over €73 million to date, with additional funding rounds expected soon.

    EU Commission Launches Trusted Investors Network for Deep Tech

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    Olga Winter - EU Newsdesk
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    Olga Winter is a specialist editor writing about current affairs on the EU news desk for WTX News. Based in Brussels she ideally suited to the address the domestic and global affairs of the European continent, with assignments that include expose and In Review features for specialist reports..

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