Allianz joins EU startup fund, Schwarz Group still considering

According to a report by Handelsblatt, the German insurance group Allianz will become an investor in the EU Commission's new startup fund "Scaleup Europe". The fund is intended to specifically close the gap in Europe for large financing rounds exceeding 100 million euros. Until now, startups have mostly had to look outside the EU for such sums.

This would make Allianz the first private investor from Germany in the EU fund. The company left it open how much money it would invest for this, according to the Handelsblatt report. The investment aims to "address the scaling problem of European technology startups and close the financing gap for growth companies," it stated.

Schwarz Group also interested

The Schwarz Group is also reportedly examining joining. "We have expressed our fundamental possible interest in participating in the EU's Scaleup Fund," the report quotes a spokesperson. The Schwarz Group is behind the discounters Lidl and Kaufland. In the startup sector, the conglomerate is invested in, among others, the former German AI hope Aleph Alpha, increasingly securing more influence there.

The "Scaleup Europe" fund is scheduled to begin operations in the second quarter of 2026. The application deadline for fund management ran until the beginning of February. The decision is expected in April. According to Handelsblatt, applications came from, among others, the Swedish financial investor EQT, the British venture capitalist Atomico, and Eurazeo from France.

So far, capital providers such as Novo Holdings, the investment arm of the pharmaceutical company Novo Nordisk, and the investment company CriteriaCaixa are on board, among others. Furthermore, promotional banks from Denmark and Poland, the Dutch pension fund ABP via asset manager APG, and the investment company of the Swedish Wallenberg family are participating. The EU Commission is also investing in the fund. Thus, the EU will become a shareholder in startups. According to Handelsblatt, the fund volume is expected to be at least 5 billion euros.

The money is to be invested in young technology companies in the EU active in areas such as AI, quantum computing, semiconductors, robotics, biotech, medicine, or advanced materials.

(axk)