EIF and the Société Nationale de Crédit et d’Investissement (SNCI) have set up the Luxembourg Future Fund (LFF). This EUR 150m fund to which EIF contributes EUR 30m and SNCI EUR 120m, will be deployed over a five year period and will focus on innovative European SMEs. LFF aims to stimulate the diversification and sustainable development of the Luxemburgish economy by attracting foreign entrepreneurs and early to later stage innovative businesses into Luxembourg.
Complementing SNCI’s product offer in support of SMEs already established in Luxembourg, the fund will invest and co-invest in innovative high tech European companies, thereby contributing to the creation of new activity in Luxembourg and contributing in the development of the Luxembourgish venture capital eco-system.
Most of the LFF resources will be invested in various high tech sectors including ICT and cleantech.
Read the full press release in French here (PDF).
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