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Luxembourg participates in space tech venture capitalist fund

At the 12th European Space Conference, Étienne Schneider, Deputy Prime Minister and Minister of the Economy in Luxembourg, confirmed it once more. The Government of Luxembourg, together with public and private sector partners, have invested a stake in Orbital Ventures (‘the Fund’, as the Luxembourgians fondly call it). This is a space tech venture capitalist fund. It’s an investment vehicle focused on early stage companies engaged in space activities.

Commitment to space industry

Luxembourg space tech venture capitalist fund
Luxembourg venture capitalist fund

Luxembourg is one of Europe’s most, if not the most ambitious space investors today. Currently, space tech is responsible for 2 per cent of Luxembourg’s GDP. It’s involvement in this fund is in line with the country’s commitment to support and help propel the commercial space industry. Orbital Ventures will now begin investing. The venture capital investment fund will provide equity funding for start-up space companies with ground-breaking ideas and technologies. In order to deliver a return to investors, the Fund will prioritise. The focus is on innovative companies with products or services either already generating revenues. Or if they are set to do so in the near term.

Read more: Three American space startups to open offices in Luxembourg

Public-private partnership

Earlier in January this year, Minister Schneider has confirmed to the parliamentary committee that the Fund has reached an initial closing with €70M. He was a speaker at the European Space Conference, on January 22nd, in Brussels. There, he mentioned an investment of 200 to 500 million Euros, “helping space companies settle”.  The initiators developed this fund as a public-private partnership. At the initial closing, there are nine investors in the fund. They are either leading international companies, institutional and/ or private investors. Besides the Luxembourg Government via the Ministry of the Economy, other stakeholders currently involved in the Fund are (in alphabetical order): BCEE, BGL BNP Paribas, BIL, OHB, Promus Ventures, POST Luxembourg, SES and SNCI.