Double the size

Luxembourg-based Expon Capital has announced the first closing of its seed-stage fund with a target size of 20m EUR, double the size of its predecessor, to continue to back digital startups. The first closing was made with 14m euros thanks to historical investors as well as newcomers Cargolux, the Luxembourg Chamber of Commerce, Jean Orgonasi and Fabrice Couturier, entrepreneurs from the insurance industry, and other private investors.

A solid fund history

The Digital Tech Fund (“DTF”) is a family of seed funds managed by Expon Capital and backed by public and private shareholders. The Fund’s purpose is to contribute to the creation of an effective start-up ecosystem in Luxembourg.

Employment tripled

The companies backed by the DTF created 312 new jobs so far, i.e. 3x more than at the time of the investment (from 155 at the time of the investment to 467 at the end of 2022).

Fundraising success

Since Expon Capital’s intervention, the 13 portfolio companies have attracted just over €120m in capital. Each Euro invested by the DTF has made it possible to raise an additional 9 euros in equity.

Emerging winners

Salonkee just raised a 28m euros Series B growth round led by PeakSpan Capital. Next Gate Tech announced an 8m EUR new Series A round led by Deutsche Börse.

Jerome Wittamer, Managing Partner: Our team is thrilled to see the strong positive momentum of this fund on the back of its first successes, showing solid proof that the Luxembourg tech startup ecosystem is capable of producing outstanding founders and projects.

Link to the Official Communication by the Ministry of Economy Luxembourg