Spotify CEO Daniel Ek pledges $1Bn of his wealth to back deeptech startups from Europe – TechCrunch

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At an online event today, Daniel Ek, the founder of Spotify, said he would invest 1 billion euros ($1.2 billion) of his personal fortune in deeptech "moonshot projects", spread across the next 10 years. Ek indicated that he was referring to machine learning, biotechnology, materials sciences and energy as the sectors he'd like to invest in. "I want to do my part; we all know that one of the greatest challenges is access to capital," Ek said, adding he wanted to achieve a "new European dream". "I get really frustrated when I see European entrepreneurs giving up on their amazing visions selling early on to non-European companies, or when some of the most promising tech talent in Europe leaves because they don't feel valued here," Ek said. "We need more super companies that raise the bar and can act as an inspiration."

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