Luxembourg, 26th February 2024 – The Luxembourg House of Financial Technology (LHoFT) Foundation, the Association of the Luxembourg Funds Industry (ALFI) and MiddleGame Ventures, are proud to announce the launch of Catapult: FundTech 360° on the 11th of March 2024.
This strategic initiative aims to reinforce Luxembourg’s position as a leader in financial innovation, specifically targeting challenges and opportunities for the fund sector, the largest sector within Luxembourg Financial Services.
The program is the result of comprehensive planning and collaboration, drawing on MiddleGame Ventures’ venture capital expertise, ALFI’s in-depth market research and, The LHoFT’s experience of Fintech innovation and acceleration programs.
This collective effort has identified key areas within the fund sector where technology can significantly improve governance workflows and reporting, cyber/risk management, ESG data management, and AI/ML-driven processes.
Catapult: FundTech 360° will enable the seven selected fintech firms to better understand the industry’s needs and align their value propositions with the demands of the fund sector. Facilitating the adoption and scalable deployment of innovative solutions that add real value to the fund industry stakeholders, the program will foster a dynamic ecosystem where collaboration is the cornerstone of progress, positioning Luxembourg’s fund industry for even greater global competitiveness.
The selection of participating fintech companies followed a thorough evaluation process, identifying firms with potential to contribute meaningful innovation to the funds industry. Participants will benefit from:
- Access to a network of industry experts, mentors, and potential clients.
- Customised workshops and coaching sessions to refine their product-market fit and market strategies.
- Increased visibility through communication channels and events.
- An opportunity to present their solutions at the ALFI Conference 2024 to a panel of investors and industry leaders.
This programme reflects the commitment of the LHoFT, ALFI and MGV to drive innovation and growth in Luxembourg’s funds industry.
Annabelle Albert-Fonteneau, Head of Startup Growth at the LHOFT Foundation and head of the program, said: “We are very excited to launch FundTech 360 Catapult working with ALFI and MiddleGame Ventures. This program aligns with our mission to enhance the competitiveness of Luxembourg’s financial services through technology. We believe that this program will create a win-win situation for both the participating fintech firms and the fund industry, by fostering innovation that meets the immediate and future needs of the sector, reinforcing Luxembourg’s position as a leader in global financial services.”
Isadora Pardo, Senior VP Industry Affairs at ALFI, said: “We are delighted to collaborate with The LHoFT on this initiative, designed to address the operational requirements of our investment funds managers members, that remain only partially addressed through the current flagship solutions used in the market. We are convinced that Catapult: FundTech 360° will help to bridge the gap between the innovative fintech solutions and the fund industry, and to support the digital transformation of the Luxembourg asset management industry.”
Kanishk Walia, Partner at MiddleGame Ventures expressed the firm’s enthusiasm about this collaboration, stating, “Our partnership with ALFI and LHoFT in launching this accelerator program underscores our commitment to driving innovation in the FinTech sector, particularly within the Luxembourg funds industry. It also highlights our strategic focus on nurturing emerging technologies and solutions that can redefine financial services. The program is designed to offer unparalleled support to startups and scale-ups, providing them with the resources, guidance, and exposure needed to excel in a competitive landscape. By bringing together the expertise of ALFI, LHoFT, and MiddleGame Ventures, this accelerator promises to be a pivotal force in shaping the future of FinTech in Luxembourg and beyond. Through this initiative, MiddleGame Ventures reinforces its role as a key player in the FinTech ecosystem, dedicated to unlocking new opportunities and fostering a culture of innovation.”
Information about the selected fintechs:
- Fund XP – Luxembourg
Fund XP is at the forefront of the financial technology, empowering fund managers and financial institutions with cutting-edge solutions to navigate the complex world of fund regulatory reporting. Launched in 2020 in the heart of Luxembourg, their mission is clear: simplify compliance, enhance transparency, and optimize reporting processes.
- Fundvis – Luxembourg
Fundvis offers a E2E fund data Platform for the AIF servicing Industry. Their solution is based on three pillars: 1.Data collection, 2.Data processing, 3.Data based automation. The solution enables smarter programming and automation based on self generated company data.
- GaiaLens – United Kingdom
GaiaLens is an AI-powered ESG analytics platform for institutional investors. The platform is data-driven, transparent, and delivers real-time analysis. It comprises of a suite of tools to help investors fulfil their ESG needs including portfolio reporting, investment screening, and deep-dive research capabilities. It acts as an automated ESG analyst team which can support investors through the whole ESG investment lifecycle and save them a significant amount of time.
- Lynxai – USA/Portugal
Lynxai is a data-driven platform that makes ESG investment more efficient, by helping the asset management industry to effortlessly comply with regulations, and to have access to diverse and reliable ESG data filtered according to the client’s standards. Key Features include objective quantitative data access, trend spotting AI tool, customizable ESG standards and CO2 Emissions Monitoring.
- Sentometrics – Belgium
Sentometrics is a large-scale media ESG news monitoring company. They provide verified and relevant thematic media-based information and scoring about events impacting selected companies or personas.
- U-Reg – Singapore
U-Reg operates as a cloud-native, subscription-based Software as a Service (SaaS) platform. The platform simplifies end-to-end onboarding, compliance and regulatory processes by facilitating a seamless, secure, and compliant exchange of regulatory information among financial institutions, their clients, business partners, and regulatory bodies. At the core of the platform lies the “input once, report to many” principle.
- WeavAir – Poland
WeavAirTeam offers an AI software powered data platform for sustainability & telemetry. WeavAir leverages new modular sources of data and cutting-edge continuous remote analytics and parametric ESG intelligence platforms that enable improved analytics, energy savings and emissions reduction by combining networks of sensors, satellite imagery and other data capture systems.
About the LHoFT Foundation:
The LHoFT Foundation is a public-private sector initiative that drives technology innovation for Luxembourg’s financial services industry, connecting the domestic and international fintech community to develop solutions that shape the world of tomorrow. The LHoFT Foundation offers an innovation platform that provides fintech startups with access to talent, expertise, funding, and market opportunities. The LHoFT Foundation also works with government agencies, regulators, and industry associations to foster a supportive and inclusive fintech ecosystem in Luxembourg.
For more information, please visit: https://lhoft.com/
About ALFI:
ALFI is the Association of the Luxembourg Funds Industry, representing over 1,500 investment funds, asset managers, and service providers in Luxembourg. Founded in 1988, ALFI aims to promote Luxembourg as a leading fund centre in Europe and beyond, by supporting private assets and sustainable investing. ALFI also seeks to foster a collaborative, dynamic, and innovative ecosystem that empowers investors to meet their life goals. ALFI’s mission is to provide solutions and drive innovation in the fund industry, supported by a robust regulatory framework.
For more information, please visit: https://www.alfi.lu/
About MiddleGame Ventures:
MGV is a “FinTech” venture capital firm investing in early stage startups at the intersection of FinTech 3.0 and Web 3.0 that are re-architecting financial services. We believe the foundational blocks of financial services will be re-shaped by new core systems via innovation in Open Finance, Blockchain & Crypto, Automated FinData, and Embedded ESG.
For more information, please visit: https://www.middlegamevc.com/
