# Luxembourg Future Fund

Luxembourg Future Fund is a Sovereign Wealth Fund based in Luxembourg, Luxembourg.

## Overview

- **Organization type:** Sovereign Wealth Fund
- **Headquarters:** Luxembourg, Luxembourg
- **Region:** Europe
- **Address:** Luxembourg, Luxembourg
- **Founded:** 2015
- **Assets under management:** $200M (per European Commission, 2015)

## Regulatory record

- **Reports private funds:** No

## About

The Luxembourg Future Fund (LFF) formed in 2015 as a joint initiative between the Luxembourg government, through its national promotional bank SNCI, and the European Investment Fund (EIF). The Grand Duchy committed €150M in seed capital, with the EIF adding €50M to create a €200M fund-of-funds vehicle. Its mandate pairs economic development with venture returns, directing capital toward technology companies that can establish or expand operations in Luxembourg. LFF functions primarily as a fund-of-funds, committing €10–30M per vehicle across European venture capital managers. The fund targets early-stage and growth-stage companies in Information and Communication Technologies, life sciences, and clean technologies. Known portfolio funds include investments in Luxembourg-based managers alongside pan-European vehicles, with the strategy administered by the EIF under its customary fund-of-funds operational framework. The geographic focus spans the European Union with a structural tilt toward attracting portfolio companies to establish Luxembourg subsidiaries. As of its launch, the LFF operated with a lean governance structure, with investment decisions routed through EIF's established fund selection process and strategic oversight from an investment committee comprising SNCI and government representatives. The fund's €200M corpus represents a material allocation relative to Luxembourg's sovereign investment capacity, making it the country's primary direct public-market vehicle for alternative assets in the venture capital space. No recent fund vintage or successor vehicle has been publicly announced. LFF sits at the intersection of venture finance and economic development incentive. Unlike pure-return sovereign funds, its dual mandate requires each commitment to demonstrate potential for domestic job creation or technology transfer—a structural constraint that shapes manager selection and portfolio construction in ways distinct from commercially driven European fund-of-funds.

## Sectors

- Information and Communication Technologies
- Life Sciences
- Clean Technologies

## People

- Société Nationale de Crédit et d'Investissement — Managing Partner (alongside European Investment Fund)

## Questions

### Who runs investment decisions at the Luxembourg Future Fund?

The Luxembourg Future Fund is governed jointly by the Société Nationale de Crédit d'Investissement (SNCI) and the European Investment Fund. Day-to-day fund selection and portfolio management is handled by the EIF under a mandate agreement, drawing on its institutional fund-of-funds capabilities. A joint investment committee provides strategic oversight and ensures alignment with Luxembourg's economic development objectives.

### What is LFF's connection to the European Investment Fund?

The European Investment Fund contributed €50M to LFF at launch in 2015 and serves as the fund's operational manager, handling fund selection, due diligence, and portfolio monitoring. This co-investment structure mirrors EIF's mandate to partner with EU member states on venture capital and SME financing initiatives, with LFF representing Luxembourg's dedicated public vehicle within that framework.

### Where does the Luxembourg Future Fund's capital come from?

The capital originates from the Luxembourg government treasury through the SNCI, its national promotional bank. The initial €150M government contribution was paired with €50M from the European Investment Fund's own resources. The fund is therefore fully public-capitalized with no private or family office limited partners.

## Related profiles

- [Lutheran World Federation Endowment Plan](https://altss.com/profile/lutheran-world-federation-endowment-plan)
- [Luxfer Group Pensions](https://altss.com/profile/luxfer-group-pensions)

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Last updated: 2026-06-03T20:00:00.000Z

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