Two German corporate groups are set to invest in the European Union’s new growth fund, “Scaleup Europe”. In addition to insurer and asset‑manager Allianz, the Schwarz Group has also confirmed that it will participate in the fund, which is designed to help European tech start‑ups raise financing rounds exceeding €100 million.
The information comes from “Handelsblatt”, which reported the story in its Wednesday edition. When asked about its intentions, Allianz said that it wants to lift the investment bottleneck and reduce strategic dependencies within Europe, but the company left the amount it will invest in the EU fund undisclosed.
The Schwarz Group likewise confirmed its interest. A spokesperson said, “We have expressed our general possible interest in participating in the EU Scaleup Fund”.
With Scaleup Europe, the EU is at last taking a direct stake in start‑ups. The aim is to improve the financing climate for companies in the growth phase-when they require larger, multi‑hundred‑million‑euro rounds. Until now, EU funding caps rounds at €30 million. The new fund is expected to hold a minimum volume of €5 billion.
