All 27 EU nations back €80B tech investment alliance

The European Investment Bank Group on Friday formally launched the second phase of the European Tech Champions Initiative, an ambitious fund-of-funds program that aims to mobilize up to €80 billion in investment to scale up the continent's most promising technology companies.

All 27 EU Member States Join Forces

ETCI 2.0 represents a major expansion from the initiative's first phase, which launched in 2023 with just six participating countries — France, Germany, Spain, Italy, Belgium, and the Netherlands. The new phase brings all 27 EU member states on board, alongside seven private investors, according to the EIB. The program targets €15 billion in direct pledges that it expects to mobilize into roughly €80 billion of total investment in late-stage European tech firms.eib+3

The initiative, managed by the European Investment Fund, will for the first time support mid-sized growth funds of more than €300 million in addition to European mega-funds. A dedicated investment platform will offer institutional investors such as insurers, pension funds, and commercial banks a range of options tailored to their capacity and risk appetite.eif+2

Addressing Europe's Scale-Up Gap

The program addresses a long-standing structural weakness in European venture capital: the shortage of large-scale growth financing that forces promising startups to seek funding — and often relocate — across the Atlantic. The first generation of ETCI, with up to €3.9 billion in commitments, targeted investments in approximately 15 growth-stage funds and helped support the development of nine unicorns, according to Science Business.impacteurope+1

ETCI 2.0 aims to mobilize four times more capital than its predecessor. The EIB and EIF boards committed a combined €1.25 billion of their own funds to anchor the new phase. Sectors targeted include artificial intelligence, fintech, deep tech, life sciences, and security.eif+1

Building a Public-Private Partnership

The expansion reflects months of preparation. The EIB Group's boards endorsed the expanded initiative in March 2026, and EU finance ministers backed the broader EIB strategy in June. The inclusion of private institutional investors marks a shift toward a public-private partnership model designed to create a more self-sustaining ecosystem for European tech growth capital.eib+2