Young investment firm Expon Capital yesterday launched 'Digital Tech Fund', sized €20 million, to equity investments in Luxembourg-based digital tech startups.
The fund’s self-described objective is to "foster long-term innovation, support the technology startup ecosystem in Luxembourg and facilitate the transfer of new digital technologies developed at the University of Luxembourg into successful spin-off companies".
The new fund is backed by a mix of private and public investors who are committed to the successful development of the Luxembourg startup scene; they include SES (Satellite Operator), Banque Internationale à Luxembourg (BIL), Proximus, The State of the Grand-Duchy of Luxembourg and others.
Expon says it anticipates making around 20 investments by way of capital increases over a period of at least six years.
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