EC Launched Initiative to Link Tech Start-Ups with Investors

The European Commission launched an initiative to connect investors with technology start-ups. The first batch of financial backers holds over €90 billion in assets.

The program called Trusted Investors Network should attract investors who are looking to co-invest in deep-tech companies within the EU, responding to demand for increased financing in Europe. The network’s first group of backers comprises 71 investors including corporate venture funds, venture capital funds, public investment banks, and foundations.

Capital from these investors will be combined with funding from the European Innovation Council (EIC), a part of the EU’s Horizon Europe program. The money will be used to support start-ups under the EIC Scaling Club community, which gathers more than 120 companies focusing on a diverse set of areas spanning biotechnology, agri-, and food tech, clean fuels, and hydrogen and energy storage.

EC said the start-ups have collectively raised more than €73 million to date, with more financing rounds to be expected. EIC Fund has invested nearly €1 billion in 251 promising European scale-ups and attracted co-investments of more than €4 billion from around 1,000 investors. EC hopes the Trusted Investors Network will further strengthen these co-investments and enable companies in critical technology areas to access larger investments needed to compete globally.

“By joining forces with venture capital, we are responding to the urgent challenges laid out in the recent report by Mario Draghi that call for bold action to ensure Europe’s competitiveness in critical technologies,” said Iliana Ivanova, European Commissioner for Innovation, Research, Culture, Education, and Youth.