The Luxembourg-based Venture Capital firm Mangrove Capital Partners launches fund to support European and Israeli startups. o be launched at the end of the third quarter or beginning of Q4, the fund is expected to grow and reach an amount within the range of $222 million.

Luxembourg’s growing startup scene

When asked about startups in Luxembourg, Schmitz said that Mangrove has not only been observing the local startup scene very carefully but also invested in local companies such as as online recruitment agency JobToday. He also outlined the amount of research being done in Luxembourg and the various incubators available for local entrepreneurs.