Wallenbergs in Talks to Back €5 Billion Europe Tech Fund (1)

Sweden’s billionaire Wallenberg family is among the first potential anchor investors for a European Union fund that will back companies working on quantum computing, artificial intelligence, and other strategic technologies.

Eight potential backers, including Wallenberg Investments AB, met with the EU’s executive arm — the European Commission — and the European Investment Bank on Tuesday to discuss investing in the European Union’s Scaleup Europe Fund, according to a commission statement.

“We are engaged in the discussions around the proposed Scaleup Europe Fund, an initiative we consider important for Europe’s competitiveness and growth,” a spokesperson for Wallenberg Investments said, ...