Today the European Investment Fund (EIF) and Luxembourg Future Fund (LFF) confirmed they invested €25 million ($30m) in Fabric Ventures‘ 2021 Fund. The Luxembourg venture firm reached the first $100 million close of its $130 million fund.
Other backers include 42 founders, partners and executives from Google, PayPal, Ethereum, Wise, Atomico, Galaxy Digital, the Digital Currency Group and others.
“Despite their rich engineering talent, deeptech entrepreneurs in the Blockchain sector in Europe often struggle to find financial support and investors that have a deep understanding of their space,” said Alain Godard, EIF CEO. “This partnership seeks to address that need.”
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