News Summary

• The European Investment Fund is raising a €15 billion fund of funds called ETCI 2 that aims to unlock up to €80 billion in scaleup funding across Europe.
• Europe produces more tech startups than America but has 80% fewer scaleups and 85% fewer unicorns.
• European pension and insurance funds account for only 7% of VC investments, compared with roughly 20% in the US.
• The continent generates companies but struggles to finance them past the point where they need hundreds of millions to compete globally.