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July 16, 2026

Exclusive: EQT’s €5bn Scaleup Fund in talks to lead Mistral round

If the deal goes through, it could mark the €5bn superfund's first investment

Swedish investment firm EQT is in talks to lead or co-lead French AI darling Mistral’s Series D via the Scaleup Europe Fund, according to three sources with direct knowledge of the deal.

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Freya Pratty

Freya Pratty is Sifted's associate editor. She covers UK tech and leads Sifted's investigations. Follow her on X , LinkedIn and Bluesky

Daphné Leprince-Ringuet

Daphné Leprince-Ringuet is a senior reporter for Sifted, based in Paris. She covers French tech and writes Sifted's AI and Deeptech newsletter . You can find her on X and LinkedIn

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