The investment aligns with LFF’s mission to strengthen Luxembourg’s technology ecosystem and provide access to finance for promising fintech entrepreneurs while fostering the adoption of next-generation technologies that will transform the global financial and banking sectors.
“Our investment confirms Luxembourg’s commitment to remain at the forefront of technological innovation, leveraging fintech to enhance the country’s competitiveness by addressing challenges and unlocking opportunities within the financial sector,” said Eva Kremer, CEO of SNCI.
Founded in 2016, MiddleGame Ventures has a strong track record, having invested over €300 million in 50 companies since its inception. It boasts industry expertise in the fintech sector, which allows it to identify and support the most innovative startups capable of transforming the financial industry through disruptive digital solutions.
“The commitment from the Luxembourg Future Fund is a strong vote of confidence in our investment strategy. We are honoured to have such a prestigious institutional partner sharing our vision for the future of international financial services,” said Pascal Bouvier, co-founder and General Partner at MiddleGame Ventures.
The Luxembourg Future Fund 2, with a budget of €200 million, including €160 million committed by SNCI, is managed by the European Investment Fund (EIF), and aims to strengthen Luxembourg’s technological competitiveness by supporting innovative companies with high growth potential.
“To make sure that European ideas can materialise and grow in Europe, we need to step up financial support for every phase of the business life cycle. Partnering with SNCI in the Luxembourg Future Fund, our intention is to make that a reality also in Luxembourg,” added Marjut Falkstedt, Chief Executive of the European Investment Fund. “This latest investment reflects that goal, driving technological innovation and competitiveness alike, strengthening Luxembourgish companies and the European economy at the same time.”
–ENDS–
About the SNCI
SSociété Nationale de Crédit et d’investissement (SNCI) is a public banking institution that specialises in granting access to finance to Luxembourg-based commercial companies with a strong focus on SMEs. It co-finances businesses at every stage of their development having a positive impact on Luxembourg’s sustainable economic diversification. SNCI intervenes either directly or indirectly through loans to partially cover the financing of startup, expansion, transfer or innovation projects. SNCI also acquires and manages holdings in companies and investment funds that are strategically important for the development and diversification of Luxembourg’s economy. www.snci.com
SNCI press contact: communications@snci.lu, +352 46 19 71 1
About the EIF
The European Investment Fund (EIF) is part of the European Investment Bank Group. Its central mission is to support Europe’s micro, small and medium-sized businesses (SMEs) by helping them to access finance. EIF designs and develops venture and growth capital, guarantees and microfinance instruments, which specifically target this market segment. In this role, EIF fosters EU objectives in support of innovation, research and development, entrepreneurship, growth, and employment. For more information, please visit ww.eif.org.
EIF press contact: Tim Smit, t.smit@eib.org, +352 691 28 64 23