APG, on behalf of its pension fund client ABP, has recently been involved in the development of a major European fund aimed at supporting scale-ups developing critical technologies. It was recently announced that Swedish investment firm EQT has been selected as the adviser and fund manager for this new Scaleup Europe Fund.
EQT operates on a global scale and includes a dedicated arm focused on investing in early-stage companies. This marks an important step toward the fund’s launch. The initiative is designed to strengthen innovation and economic growth in Europe. ABP and APG see strong potential in European innovation and have previously indicated that they are, in principle, open to investing in the fund alongside other major European investors.
Bridging the funding gap for growing companies
The Scaleup Europe Fund is the largest initiative of its kind ever established in Europe. With a target size of €5 billion, it aims to provide the growth capital that promising companies in strategic technology sectors require to scale further. These include artificial intelligence, quantum computing, sustainable energy, space technology, and medical innovation.
The fund is specifically designed to bridge the financing gap for young companies in the later stages of growth. This is intended to make Europe more attractive to innovative companies and to encourage the most promising scale-ups to remain within the EU. Primary objective: to enable more innovative companies to scale into “unicorns” (companies valued at over $1 billion).
Shared ambition to scale European innovation
APG and ABP are involved in the further development of the fund together with a group of leading European long-term investors. This collaboration reflects a shared ambition to scale deep-tech innovation across Europe.
Any final investment decision by ABP and APG will depend on a thorough assessment of expected returns, risks, costs, and sustainability considerations. The Scaleup Europe Fund is expected to make its first investments in the fall of 2026.