Luxembourg’s decision to invest in a fund for space technologies is part of the country’s commitment to supporting the economic development of the commercial space industry.
Innovative space technologies
The Luxembourg-based investment fund Orbital Ventures will invest in early-stage space companies that are developing innovative technologies. It primarily targets innovative companies whose products or services are already generating revenues or could do so in the near future. Deputy Prime Minister and Minister of the Economy Étienne Schneider confirmed that the fund has so far a capital of €70 million.
“We are delighted to work with our partners to support the most promising companies that develop technologies to further promote the commercialisation of space,” Minister Schneider stated. “For decades, Luxembourg has been at the forefront of initiatives that shape the future of space. We will take advantage of our long-standing expertise and our international collaborations to support the commercialisation of space activities.”
Orbital Ventures currently has nine investors, including several leading international groups as well as institutional and private partners. In addition to the Luxembourg government, represented by the Ministry of the Economy, the investors include several banks – BCEE, BGL BNP Paribas, BIL and the state-owned bank SNCI, world-leading satellite operator SES, space systems specialist OHB, Promus Ventures that invests in early-stage deep-tech software and hardware companies, and POST Luxembourg.
Photo credit: Ministry of the Economy