The European Innovation Council (EIC) has appointed the Swedish venture capital firm EQT, which is part of the Wallenberg Sphere, to manage the Scaleup Europe Fund, which has capital of around five billion euros, equivalent to just under 55 billion Swedish kronor, the European Commission said in a press release.
Deep tech is a collective term for startups that base their business models on groundbreaking research. The aim of the fund is to help such European companies raise capital so that they can remain in the European Union.
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