Proximus and SES are among the initial investors in a fund worth EUR 20 million to invest in finance technology start-ups in the Luxembourg ICT sector. The Digital Tech Fund was announced by the Luxembourg Deputy Prime Minister and Minister of the Economy Etienne Schneider.
The state will contribute EUR 5 million to the fund, which will focus on acquiring stakes in innovative companies created less than seven years ago. They should already have a functional prototype and be focused on product development. The University of Luxembourg will also participate, contributing EUR 1 million and working with the start-ups on research and development.
Expon Capital will manage the fund, and the other investors are Arendt & Medernach, Banque Internationale a Luxembourg, High Capital (BHS Services) and Post Capital.
