EIF launches €15bn fund of funds to back 100 growth-stage VCs

The European Investment Fund is launching ETCI 2, a €15bn fund of funds for European growth-stage venture capital.

It will back around 100 mid-size and mega VC funds, with a first close expected by summer and an initial €1.25bn commitment from the EIF and EIB.

The broader vehicle aims to attract more public and private capital from EU countries and institutional investors.

The goal is to help close Europe’s late-stage funding gap and could unlock up to €80bn for high-growth scaleups.