European Innovation Council Fund

The EIC Fund is the venture capital arm of the European Innovation Council (EIC), financed by the European Commission with investment advice from the European Investment Bank. Established in 2020 and capitalized at over €4 billion, it is one of Europe's largest deep tech investors. The Fund makes direct equity and quasi-equity investments ranging from €0.5M to €15M (and up to €30M through the STEP Scale Up program), typically targeting minority stakes of 10–20%. It invests across all deep tech verticals—including health biotech, energy, AI, quantum, advanced manufacturing, space, and climate tech—from seed through Series B and beyond. Companies must be established in EU Member States or Horizon Europe-associated countries and access the Fund primarily through the EIC Accelerator selection process, which also offers grants up to €2.5M as part of a blended finance package. To date, the Fund has invested over €1.4 billion across 279 portfolio companies in 25 countries, with every €1 of EIC investment mobilizing approximately €3.50 in additional private capital.