On 18 November 2019, the Luxembourg Future Fund SICAV-SIF (LFF) organised its first Annual Networking Event showcasing the developments of the Luxembourg Future Fund and providing an opportunity to connect policy makers, fund managers, innovative Blue Chips, academics, current and future entrepreneurs, incubators and accelerators, and other key actors of the Luxembourg’s ecosystem. The LFF is a EUR 150 million equity fund set up in 2015 by the Société Nationale de Crédit et d’Investissement (SNCI) and the European Investment Fund (EIF) and combines a EUR 120 million commitment from SNCI with EUR 30 million from the EIF, to be deployed over a five-year period. In addition to its role as investor, EIF acts as LFF’s adviser, performing investment advisory, operational, reporting and execution tasks.
The LFF invests in Venture Capital funds and co-invests in early and growth stage innovative technology SMEs. Its objective is to provide its investors with a risk commensurate return on investments while at the same time fostering the sustainable development and diversification of the Luxembourgish economy.
The LFF has an umbrella structure with dedicated compartments for venture capital fund investments and co-investments into companies along with investment funds. As of 30 June 2019, the LFF portfolio included a commitment to Paladin European Cyber Fund SCSp-SIF, which is an investment fund active in enterprise IT/cyber-security, communications and mobility sectors. The LFF has also approved a commitment to an investment fund to be established in Luxembourg focusing on early-stage FinTech companies mainly in the EU, whose first closing just took place in early November and therefore will be included in the portfolio. The LFF portfolio also includes the following co-investments alongside the investment funds indicated:
— CrossLend GmbH (with Lakestar II LP fund) in FinTech sector; — Cyberhedge Europe Sarl (with Paladin European Cyber Fund) in Cyber-Security sector; — Digital Origin Technology Limited (with Prime Ventures IV CV fund) in FinTech sector; — LendInvest Limited (with GP Bullhound Fund IV SCSp) in FinTech sector; — SolarisBank AG (with Lakestar II LP fund) in FinTech sector; — Spire Global Inc. (with RRE Leaders fund) in Space sector.