Sifted Summit: EU's €5bn Scaleup Fund Can Invest in UK Companies
The first day of the Sifted Summit revealed that the EU's €5bn Scaleup Fund can now officially invest in UK companies. No British capital has yet been committed to the fund.
The fifth edition of the Sifted Summit commenced yesterday, with a significant announcement: the EU's €5bn Scaleup Fund is now officially able to invest in UK companies. This development occurred despite no British capital having yet been committed to the fund.
Thierry Breton, the EU's Commissioner for Internal Market and Services, confirmed the fund's capabilities, emphasizing its role in fostering European scale-ups. "This is a significant step for European venture capital, and hopefully it will attract more investments," he stated.
The summit also addressed the challenges and opportunities in artificial intelligence. UK AI Minister Kanishka Narayan discussed Britain's commitment to AI development, highlighting the need for a balanced approach between innovation and regulation to ensure technology benefits society.
Discussions also centered on the future of the European startup ecosystem, with speakers exploring strategies for growth and internationalization. Sifted itself aims to facilitate this expansion, providing insights into how the EU can best support the next generation of tech companies.