Companies to ask for European Sovereign Tech Fund

Companies to ask for European Sovereign Tech Fund

35 companies including  Blablacar, FacilityLive, Cabifyon, Adyen, Collibra and Supercell are  expected to participate.

The companies are expected to argue that  a European fund would allow startups to stay independently European instead of getting bought by US companies.

“This presents a risk to growth, jobs and Europe’s influence in key strategic areas,” they say in a policy document.

If they succeed in getting the fund established, they have another in the pipeline – The European Sovereign Green Fund.

It is envisaged that the tech fund would combine public and private money and would take long-term equity stakes in EU companies.