Drake Star vs EIB

Drake Star welcomes James Hill as Partner based in London

Drake Star announces the addition of James Hill as Partner in its London office, expanding its leadership team.

The Office of the CFO – Market Perspectives & Coverage H1-2026: Where AI Creates Value, Drives Investment Opportunities and Impacts Valuations

Drake Star released its H1-2026 Office of the CFO report, focusing on AI's impact on valuations and investment opportunities.

EU and EIB Launch Institutional Investor Pact to Boost Scale-up Funding

The European Commission and the European Investment Bank (EIB) Group have launched the European Institutional Investors Pact (EIIP), a voluntary framework to channel long-term institutional capital into Europe's technology and scale-up ecosystem. Unveiled at the TechEU Equity Summit in Luxembourg, the pact aims to address Europe's late-stage funding gap, particularly for rounds above €100 million. Thirteen institutional investors have signalled intent to invest, primarily through the €15 billion European Tech Champions Initiative (ETCI) 2.0 and the €5 billion Scaleup Europe Fund. The EIIP comprises a Policy Dialogue Forum led by the Commission and an Investment Platform led by the EIB Group, designed to provide investors with access to venture capital and growth equity opportunities. The initiative is part of the EU Startup and Scaleup Strategy, with the goal of helping European companies scale without seeking capital outside the bloc.

• The European Commission and EIB Group launched the European Institutional Investors Pact (EIIP).
• Thirteen institutional investors have signalled intent to invest in Europe's innovation economy.
• Commitments are expected via the €15 billion European Tech Champions Initiative (ETCI) 2.0 and the €5 billion Scaleup Europe Fund.

Finnish SMR Startup Steady Energy to List via Merger, Raises €40M from EIB

Finnish nuclear technology startup Steady Energy, a spin-off from VTT, plans to go public on the Nasdaq First North Growth Market Finland through a merger with investment firm 3North Partners (3NP). The company, which develops the LDR-50 small modular reactor for district heating, aims to raise over €100 million, including a €69.8 million subscription from institutional and strategic investors like Elo, Ilmarinen, Varma, Fortum, Orlen's VC arm, Tesi, and others. Additionally, the European Investment Bank (EIB) provided a €40 million convertible loan, marking its first financing for an SMR company. The company operates on two models: traditional EPC sales and Heat as a Service (HaaS). The listing will offer shares at €10, and the post-money valuation is estimated at €330 million. The company aims for revenue of €500 million by 2035 and 70 reactors delivered by 2045, with core markets in Finland, Sweden, Poland, and Czechia.

• Steady Energy plans to merge with 3North Partners (3NP) and list on Nasdaq First North Growth Market Finland.
• EIB provided a €40 million convertible loan, the first EIB financing for an SMR company.
• Institutional investors have committed €69.8 million in new shares, including Elo, Ilmarinen, Varma, Fortum, and Orlen's VC arm.

EIF Commits €30M to Nordic Foodtech VC for Agrifood Startups

The European Investment Fund (EIF) is committing up to €30 million to Nordic Foodtech VC's second fund, NFT.VC Fund II, helping it reach a total target size of €80 million. The Helsinki-based VC firm, founded in 2019 with offices in Helsinki and Copenhagen, will invest in around 30 early-stage AgriTech companies across Northern Europe, focusing on pre-seed and seed-stage ventures in sustainable food, agriculture, health, aquaculture, and biosolutions. The EIF investment, backed by the InvestEU program and co-funded by the European Maritime, Fisheries and Aquaculture Fund and EIB Risk Capital Resources, aims to attract additional private investors. Fund II achieved a first closing of €40 million in April 2025. Nordic Foodtech VC's first fund, launched in 2020, invested in 18 companies across the Nordic and Baltic regions.

• The EIF is investing up to €30 million in Nordic Foodtech VC's second fund, NFT.VC Fund II.
• The fund's target size is €80 million, with a first closing of €40 million in April 2025.
• The fund will invest in about 30 early-stage AgriTech companies in Northern Europe, focusing on pre-seed and seed-stage ventures.