What we do
Coronavirus pandemic: The EIB Group’s initiatives to address the economic consequences of the crisis
Pan-European Guarantee Fund – EGF
Equity products
Technology Transfer
European Angels Fund (EAF) - Co-investments with Business Angels
Venture capital
The Social Impact Accelerator (SIA)
Lower mid-market
Mezzanine Facility for Growth
EFSI Equity instrument
Single EU Equity Financial Instrument
COSME - Equity Facility for Growth
InnovFin Equity
Private equity secondary market transactions
EIF-NPI Equity Platform
ESCALAR Programme
Debt products
New ESIF ERDF Guarantee Fund initiative in Greece
EFSI Private Credit Programme
AGRI Guarantee Facility
AGRI Italy Platform Uncapped Guarantee Instrument
Credit enhancement
Cultural and Creative Sectors Guarantee Facility (CCS GF)
ENSI - Securitisation Initiative
Erasmus+ Master Loan Guarantee Facility
Skills & Education Guarantee Pilot
EREM debt products
Single EU Debt Financial Instrument
COSME - Loan Guarantee Facility
InnovFin SME Guarantee Facility
Documentary Finance Facility – Bulgaria
The SME Initiative
The SME Initiative Bulgaria
The SME Initiative Finland
The SME Initiative Italy
The SME Initiative Malta
The SME Initiative Romania
The SME Initiative Spain
Inclusive finance
EaSI Financial Instruments
EaSI Capacity Building Investments Window
EaSI Guarantee Instrument
EaSI Funded Instrument
European Progress Microfinance Facility
Entrepreneurs supported through Progress Microfinance
European Fund for Strategic Investments (EFSI)
How does EIF contribute to EFSI
How to apply for EFSI financing
Regional Development - Country and sector-specific initiatives
German Corona Matching Facility (CMF)
Portugal Growth programme
Croatian Growth Investment Programme (CROGIP)
AGRI Italy Platform Uncapped Guarantee Instrument
ALTER’NA – ESIF EARFD Nouvelle-Aquitaine
Baltic Innovation Fund 1 (BIF 1)
Baltic Innovation Fund 2 (BIF 2)
Central Europe Fund of Funds (CEFoF)
Croatian Venture Capital Initiative (CVCi FoF)
Competitiveness Fund-of-Funds for SMEs in Romania
Deep and Comprehensive Free Trade Area Initiative East Guarantee Facility (DCFTA)
Dutch Growth Co-Investment Programme
Dutch Venture Initiative (DVI-II)
ESIF Fund-of-Funds Greece
EAFRD FoF Portugal
EAFRD FoF Romania
The ERP-EIF Facility
ERP-EIF Co-Investment Growth Facility
The LfA-EIF Facilities
INAF – French National Agricultural Initiative
ESIF Energy Efficiency and Renewable Energy Malta
Regional Fund-of-Funds Romania
ESIF Fund-of-Funds Czech Republic
The Silesia EIF Fund of Funds
La Financière Région Réunion
The EIB Group Risk Enhancement Mandate (EREM)
Greater Anatolia Guarantee Facility (GAGF)
G43 - Anatolian Venture Capital Fund Project
InvestBG Equity Instrument
JEREMIE Romania Reflows – Equity Instrument
Luxembourg Future Fund (LFF)
Mezzanine 'Fund of Fund' for Germany (MDD)
Polish Growth Fund of Funds (PGFF)
Portugal Venture Capital Initiative (PVCi)
Scottish-European Growth Co-Investment Programme
Slovene Equity Growth Investment Programme (SEGIP)
Swedish Venture Initiative (SVI)
Turkish Growth and Innovation Fund (TGIF)
Western Balkans Enterprise Development & Innovation Facility (WB EDIF)
EAFRD FoF Greece

Luxembourg Future Fund (LFF)

The Luxembourg Future Fund is a EUR 150 million fund which aims to stimulate the diversification and sustainable development of the Luxembourgish economy by attracting Venture Capital fund managers and early to later stage innovative businesses into Luxembourg. It was set up by the EIF and the Société Nationale de Crédit et d’Investissement (SNCI) and combines a EUR 120 million contribution from SNCI with EUR 30 million from the EIF.

The Luxembourg Future Fund invests directly or indirectly in Venture Capital funds and SMEs to foster the sustainable development of Luxembourg strategic sectors (i.e. companies active in the ICT, cleantech and other technology sectors excluding health technologies and life science sectors). These are key for the diversification of the Luxembourgish economy.

As at 31 March 2019 (the end of fiscal year), LFF’s portfolio consisted of the following:

  • Paladin European Cyber Fund SCSp-SIF, Luxembourg
  • GP Bullhound Fund IV SCSp co-investment in LendInvest Limited, UK
  • Lakestar II LP co-investment in CrossLend GmbH, Germany
  • Lakestar II LP co-investment in solarisBank AG, Germany
  • Paladin European Cyber Fund co-investment in Cyberhedge Europe Sarl, Luxembourg
  • Prime Ventures IV CV co-investment in Digital Origin Technology Limited, UK
  • RRE Leaders Fund co-investment in Spire Global Inc., US

Are you a Fund Manager or a Business Angel interested in partnering with us under LFF? 

The Luxembourg Future Fund comprises two sub-funds. You will find here below the objectives of each Sub-Fund and the related eligibility criteria:

  • Investments in Venture Capital funds

The sub-fund will invest in Venture Capital funds not yet established in Luxembourg, targeting early to growth stage innovative technology companies.

The targeted Venture Capital fund will preferably be located/domiciled in Luxembourg. Each targeted Venture Capital fund will be required, as part of its investment strategy, to dedicate at least twice the amounts drawn down from the Venture Capital fund (in the relevant sub-fund) for the purpose of investments in SMEs based and/or active in Member States of the European Union and in candidate and potential candidate countries and include Luxembourg in their investment focus.

The target Venture Capital funds will also be expected to engage actively in the Luxembourg Venture Capital ecosystem.

  • Co-investments alongside Venture Capital funds and Business Angels

Co-investments will be made alongside Venture Capital funds or Business Angels on equal footing in innovative technology SMEs (excluding enterprises already established in Luxembourg) in their start-up, development or growth phase, which, at the time of the decision to invest in such SMEs, are expected to bring highly relevant international spillover to Luxembourg (see “spillover criteria” below). Business Angels will be preferably Luxembourg-based and showing or planning Luxembourg-relevant investment activity.

Investments by the sub-fund will be made on a commercial basis with risk-commensurate financial performance objectives. Venture capital funds and Business Angels will have the power to decide to proceed with an exit or disposal of a company for the account of the Luxembourg Future Fund.

 What are the “spillover criteria”?

Investments in Venture Capital funds and/or in SMEs shall have one or more of the following envisaged spillover effects on Luxembourg:

  • turnover/revenue generation by companies established in Luxembourg; and/or
  • direct cost reduction (efficiency gain) in Luxembourg; and/or
  • creation of key skills (placing people, training) in Luxembourg; and/or
  • significant employment creation in Luxembourg.

These effects will foster the sustainable development of Luxembourg strategic sectors (i.e., SMEs active in the ICT, cleantech and other technology sectors excluding health technologies and life science sectors).

The means through which the projected spillovers in Luxembourg as described above shall be generated shall be one or more of the following:

  • incorporation of new business/research entities in Luxembourg; and/or
  • creation and/or development of (new) fields of business activities in Luxembourg; and/or
  • formal cooperation with key actors within the Luxembourg innovation system (universities, public research labs, clusters of [business] activities).

The envisaged spillover effects on Luxembourg as described above should be generated over a medium term perspective and be sustainable.


Read more about how to submit your investment proposal to the EIF


We use cookies to give the best browser experience on our website. or change cookie settings.

Note: Following the recent withdrawal of the United Kingdom from the European Union, we are updating the relevant EIF.org pages.


Copyright ©

 European Investment Fund 2020 – The European Investment Fund is not responsible for the content of external internet sites.