Romania backs EUR 80 bln EIB fund for tech unicorns
Romania and other EU states will support the launch of the new strategic innovation financing instrument through the European Investment Bank (EIB), which mobilizes up to EUR 80 billion to finance tech unicorns, interim finance minister Alexandru Nazare announced on Monday, July 13.
The initiative is coordinated by the European Investment Bank (EIB) Group, through the European Investment Fund (EIF), and aims to help European technology companies more easily find the financing they need to grow and compete globally, according to Agerpres.
A privately-owned company that surpasses a valuation of USD 1 billion is defined as a unicorn. The term was coined by venture capitalist Aileen Lee in 2013 to describe the rarity of such a business. Business automation company UiPath was the prime example of a Romanian unicorn before listing its shares on the US stock market.
“Europe has a high level of research, entrepreneurs, and technology companies with extraordinary potential. But too many of them encounter difficulties precisely at the moment when they need to make the transition from a start-up to a global company. Too often, the capital needed for this stage is outside Europe,” Nazare said.
The new European Tech Champions Initiative (ETCI 2.0), launched by the EIB, is meant to address that problem and increase the continent’s competitiveness. Romania is one of the first supporters of the project.
“Over the past year, we have actively supported this direction, including through dialogue with Nadia Calviño, President of the EIB Group, and with representatives of the EIF, because Romania has an interest in participating from the very beginning in the creation of such European financing instruments,” the Romanian official argued.
The fund will help Romanian companies stay connected to the European economy and access financial resources needed for international expansion.
Overall, ETCI 2.0 will support the development of more than 100 investment funds, expand financing to growth funds, and aim to mobilize investments for more than 1,500 European technology companies, according to the minister.
At the end of 2025, Europe had slightly over 200 unicorns, according to Failory.
(Photo source: Alexandru Nazare on Facebook)
