Luxembourg closes venture fund first round with $78M, co-investors include SES, OHB, Promus Ventures, BNP

by Peter B. de Selding

PARIS — The Luxembourg government has closed its first round of financing with 70 million euros ($77.9 million) from nine investors including satellite fleet operator SES, satellite and launch hardware builder OHB, venture capital investor Promus Ventures and BNP Paribas, with 36 million euros coming from Luxembourg’s state investment bank, SNCI.

Luxembourg Deputy Prime Minister and Economy Minister Etienne Schneider announced the closing of the fund, called Orbital Ventures, on Jan. 16, less than three weeks before his planned retirement . . .

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