Venture capital Luxembourg Future Fund The Luxembourg Future Fund (LFF) aims to stimulate the diversification and sustainable development of the Luxembourg economy. It invests and co-invests in early and growth stage innovative European technology SMEs active in the ICT, cleantech and other technology sectors (excluding health technologies and life sciences sectors) as well as in Venture Capital funds. The Fund comprises three sub-funds. Investments in Venture Capital funds This sub-fund invests in Venture Capital (VC) funds not yet established in Luxembourg, which target early to growth stage innovative technology companies. Targeted VC funds will be required, as part of their investment strategy, to dedicate at least twice the amounts drawn from the LFF to investments in SMEs based and/or active in EU Member States or in candidate or potential candidate countries and to include Luxembourg in their investment focus. Targeted VC funds are also expected to engage actively in the Luxembourg VC ecosystem. Co-investments with Venture Capital funds Co-investments are made alongside VC funds on equal footing in innovative technology SMEs (excluding enterprises already established in Luxembourg) in their start-up, development and growth phase. At the time of the decision to invest in such SMEs, these are expected to bring highly relevant international spillover effects to Luxembourg. Co-investments with Business Angels and Family Offices Co-investments are made alongside Business Angels and Family Offices, preferably based in Luxembourg and showing or planning Luxembourg-relevant investment activity. Investments are made on equal footing in innovative technology SMEs (excluding enterprises already established in Luxembourg) in their start-up, development and growth phase. At the time of the decision to invest in such enterprises, these are expected to bring highly relevant international spillover effects to Luxembourg. Expected spillover effects Investments in VC funds and/or in SMEs shall have one or more of the following envisaged spillover effects on Luxembourg on a medium-term perspective: Turnover/revenue generation by companies established in Luxembourg Direct cost reduction (efficiency gain) in Luxembourg Creation of key skills in Luxembourg Significant employment creation in Luxembourg About Luxembourg Future Fund The LFF was established by the European Investment Fund (EIF) and the Société Nationale de Crédit et d’Investissement (SNCI). It combines a €20 million contribution from the SNCI with €30 million from the EIF, to be deployed over a five-year period.