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.
Pro
Exclusive
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
Freya Pratty and Daphné Leprince-Ringuet
2 min read
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 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

Sifted Daily newsletter
Stay one step ahead with news and experts analysis on what’s happening across startup Europe.
Recommended
Nvidia funds European startups. They spend it on Nvidia
The chip giant's latest European shopping spree saw it tour London, Stockholm, Paris and Berlin
Federico Scolari, Freya Pratty, Tom Nugent, Anne Sraders and Maya Dharampal-Hornby
Exclusive: Former H Company CTO seeks $30m for new startup
Pierre-Louis Cedoz left H at the start of September to launch a new venture with two of his former colleagues
Nvidia backs four German startups as European spending spree continues
The US chip giant is backing companies working on robotics, healthcare, AI-generated audio and satellites


