EQT CEO Says New Tech Fund Will Help Europe’s Scale-Up Problem

A new fund targeting Europe’s most promising startups will help the region create more global champions, according to the head of private equity group EQT AB.

“Over the last 50 years there have been 250 startups in the US that reached a market cap of $10 billion or more but in Europe there’s actually only been 14 of those,” Chief Executive Officer Per Franzen said in an interview with Bloomberg Television.