CriteriaCaixa, the holding company of the La Caixa Foundation, will allocate 250 million euros to the Scaleup Europe Fund, a large fund driven by the European Commission. This fund aims to reach a total of 5 billion euros to support emerging technology companies.
CriteriaCaixa, the holding company of the La Caixa Banking Foundation, has decided to invest 250 million euros in the Scaleup Europe Fund, a fund aimed at medium-sized technology companies promoted by the European Commission. This fund seeks to raise a total of 5 billion euros to support the growth of emerging companies in Europe, particularly in the field of deep technologies, according to expansion.com.
CriteriaCaixa's investment is part of its new venture capital policy. Its president, Isidro Fainé, has stated that this reflects “CriteriaCaixa's firm commitment to the European investment ecosystem,” with the intention of generating a positive and sustainable impact on the economy.
The participation is channelled through its new management company, Criteria PE Management, which joins Criteria Capital Risc. Other investors in the Scaleup Europe Fund include entities such as Santander, Allianz, and Wallenberg Investments.
The European Commission has launched this fund to address the funding gap faced by the most promising emerging companies and to strengthen their presence on the continent, which impacts the technological sovereignty of the EU.
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