ABP, the Netherlands’ largest pension fund, plans to invest approximately €1 billion in promising European startups and scaleups over the next three years. The newly launched Scaleup Europe Fund, backed by the European Commission and a group of European investors, targets high-growth sectors including artificial intelligence (AI), quantum technology, and space technology. The fund’s first step will be a €250 million investment in the Scaleup Europe Fund, which supports fast-growing European technology companies.
According to ABP Chairman Harmen van Wijnen, Europe has no shortage of talent, knowledge, and innovation. However, many successful startups still look abroad for growth financing, causing economic value and jobs to leave the region. “More available capital can help ensure that innovation, economic value, and employment remain in Europe”, Van Wijnen confirms.
ABP said the investment aligns with its core mission of delivering solid pension returns. The fund believes the European technology sector offers attractive opportunities, particularly as many innovative companies face challenges securing sufficient growth capital.
ABP declined to provide specific return expectations. The company said the investments are expected to generate returns that fit the risk profile of venture capital investments.
@anp | NEWSBRAINPORT
