Taylor Wessing provided comprehensive legal advice to the EIC (European Innovation Council) Fund on its investment in the start-up UniverCell Holding GmbH as part of a €30 million Series B financing round. The EIC Fund invested alongside DeepTech & Climate Fonds (DTCF) as the German lead investor, WIKA and IKA-Werke, among others. The EIC Fund's investment was made as an equity investment under the Horizon Europe Programme.
UniverCell, based in Flintbek, develops and manufactures electrodes and battery cells for selected premium and niche markets. The company focuses on high-performance battery solutions for demanding industrial applications. With an available production capacity of 1.5 GWh, UniverCell is one of the largest active gigafactories in Europe and supplies international customers from technology-driven industries.
The EIC Fund is the special fund of the European Innovation Council and thus the European Commission's central venture capital investment vehicle. It serves to implement the European Commission's EIC Accelerator Programme and receives investment advice from the European Investment Bank. As a specialised investor, the EIC Fund provides venture capital financing to support European deep tech innovations. The EIC was established in the context of the pilot project ‘Horizon 2020 – the Framework Programme for Research and Innovation’ and was successfully continued in 2021 with the launch of the ‘Horizon Europe Programme’. With a duration from 2021 to 2027 and a total budget of up to €95.5 billion, it is one of the largest funding programmes for research and innovation worldwide. By 2026, the EIC Fund has supported a total of over 330 deep tech companies with direct investments, mobilising private co-investments of over €2.9 billion.
Taylor Wessing regularly advises companies in the venture capital sector, most recently BlackFin Capital Partners on Sinpex's Series A financing round of €10 million and General Catalyst on Parloa's Series D financing of US$ 350 million.
Legal advisors to EIC Fund
Taylor Wessing Germany: Dr Carolin Roßkothen (lead, Hamburg) and Corvin Gutzeit, (Berlin) (both Corporate/M&A); Franziska Ley (Trademarks, Advertising and Design, Hamburg); Sarah Köppen (Technology, Media & Telecoms, Hamburg) and Niklas Adam (Employment, Pensions & Mobility, Berlin).
