DNB has invested €10 million in the EQT-managed Scaleup Europe Fund, which aims to provide growth capital for European companies in AI, deeptech, and life sciences. CEO Kjerstin Braathen announced this at the DNB NXT conference, highlighting the bank’s role as the first Nordic institution to support the fund.
The Scaleup Europe Fund targets a total raise of €5 billion, with DNB's stake representing 0.2% of that goal. This fund operates as a public-private partnership focused on strategic technologies and plans for around 40 direct investments, ensuring options for future funding rounds. It has already committed capital to Finnish Iceye, Swedish Lovable, and French Mistral AI.
DNB aims to strengthen its connections with European growth initiatives, particularly addressing the lack of growth capital for technology companies in Norway.