European Investment Bank (EIB) Group (European Investment Bank and European Investment Fund) announced on Monday, February 13, that it has signed the European Tech Champions Initiative (ETCI) mandate with Spain, Germany, France, Italy, and Belgium.
ETCI is a fund of funds that will back high-tech companies in their late-stage growth phase.
“This initiative is a striking example of what we can achieve collectively to strengthen the EU’s economic and industrial sovereignty,” says Bruno Le Maire, French Minister of the Economy, Finance, and Industrial and Digital Sovereignty.
Managed by the European Investment Fund, ETCI has secured commitments from Spain (€1B), Germany (€1B), France (€1B), Italy (€150M), and Belgium (€100M) during the initial subscription period.