EU Will Become Shareholder in Startups for the First Time
- Multi-billion-euro EU fund to make direct equity investments
- EU wants to plug VC funding gap in early-stage deep tech
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The European Union, for the first time, will become a direct shareholder in startups through the creation of one of Europe’s biggest investment funds.
The European Innovation Council Fund, expected to total about 3 billion euros ($3.7 billion), is an effort to plug what the EU said Wednesday is a “critical” funding gap for breakthrough technologies to scale up to commercial levels and better compete with the U.S. and Asia.