VIVES Inter-College Fund (IUF), a European science primarily based early-stage fund, introduced the securing of an extra €5 million from the Luxembourg Future Fund 2 (LFF 2), bringing its complete funding to €75 million.
LFF 2 is a €200 million initiative between the European Funding Fund (EIF) and the Société Nationale de Crédit et d’Investissement (SNCI) managed by the EIF, which builds on the profitable implementation of LFF 1. Below LFF 2, EIF and SNCI cooperate with a purpose to stimulate the diversification and sustainable growth of the Luxembourg economic system.
“We’re thrilled to have surpassed our monetary targets for this fund, which demonstrates the belief traders place in {our capability} to develop profitable spin-offs and startups throughout our inter-regional ecosystem,” mentioned Philippe Durieux, CEO of VIVES. “LFF 2’s funding in VIVES IUF reveals our ambition to turn out to be a key investor within the European innovation ecosystem and to deal with the quite a few challenges within the fields of well being, agriculture, business and expertise switch.”
VIVES’ funding expertise in Luxembourg and the historic relationship with the Luxembourg startup ecosystem place the fund in a robust place to assist innovation within the nation. One of many startups is LMO House, a Luxembourg primarily based firm creating precision maneuvering applied sciences for in-space operations.
Bullish on Luxembourg
The Luxembourg startup ecosystem at present contains greater than 500 firms, primarily energetic in FinTech, InduTech, CleanTech and HealthTech, in addition to car, area and cybersecurity applied sciences. It additionally gives over 15 incubators and accelerators, together with Technoport, a Luxembourg expertise enterprise incubator with whom VIVES is at present in partnership discussions.
“Our intention is to advertise the expansion and variety of the nation’s economic system. I’m assured {that a} new technology of modern companies can come up from the fruitful encounter of traders and public analysis in Luxembourg. VIVES will contribute to encouraging these new ventures,” added Eva Kremer, CEO of SNCI.
“Getting nice concepts out of the labs and into the markets the place they’ll make a distinction in individuals’s lives is the final word aim of our investments within the area of life science. Via VIVES, we’re assured that we will obtain this. We sit up for a collection of latest investments into the Luxembourgish and broader Benelux and European start-up scene, additionally contributing to strengthening the funding ecosystem,” commented EIF chief govt, Marjut Falkstedt.
