Economy
ABP invests 1 billion euros in European tech companies over next three years
The ABP pension fund has allocated one billion euros to invest in young European technology firms over the next three years, with an initial 250 million euro commitment to the Scaleup Europe Fund. CEO Harmen van Wijnen aims to retain innovation and jobs within Europe by providing capital to sectors like AI, quantum technology, and spaceflight, noting that many growth companies currently seek funding abroad. Established with support from the European Commission and other investors, the fund seeks attractive returns while acknowledging investment risks. This initiative forms part of ABP’s gradual expansion of its venture capital portfolio, contingent on market conditions and available opportunities.
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