Linklaters has advised Nextblock Ventures on the structuring and establishment of its first Alternative Investment Fund (AIF) in Luxembourg, managed by an authorised AIFM licensed by the CSSF to manage virtual assets. The fund will focus on early-stage investments in European and American Web3 companies developing innovative blockchain solutions, including decentralised finance (DeFi) applications, and asset tokenisation. Besides these more VC-type investments, the fund will also manage its portfolio by seeking exposure to traditional crypto assets.
The fund launches with initial commitments of US$40 million, with plans to increase to up to US$60 million, reflecting strong interest from institutional investors and family offices.
While previous similar funds were so-called “sub-threshold funds” managed by registered AIFMs, the fund is one of the very first crypto funds managed by an authorised Luxembourg AIFM, showing the traction of digital assets / crypto funds.
Claire Prospert, Partner at Linklaters, commented: “We are pleased to have supported the structuring and establishment of this first-of-its-kind fund in Luxembourg. This transaction reinforces Luxembourg’s role in digital finance and highlights the growing institutional interest in blockchain technology and crypto investments.”
Raoul Heinen, Partner at Linklaters, said: “This fund demonstrates the strength of Luxembourg’s regulatory framework and ecosystem for digital assets. We appreciate the opportunity to contribute to the development of innovative investments in this exciting sector.”
The core Linklaters Luxembourg team, specialising in Investment Funds, was led by Claire Prospert (Partner) and Raoul Heinen (Partner), supported by Victor Louvet (Counsel), Laurie Mamane (Managing Associate), Luis Gabriel Jiménez (Associate), Maximilien Lamesch (Associate), and Chiara Mesureur Bassil (Junior Associate).
For further information, please contact Véronique Cioli, Head of BDM Europe / Head of BDM Luxembourg, on +352 2608 8226.
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Linklaters LLP is a leading global law firm, supporting clients in achieving their strategies wherever they do business. We use our expertise and resources to help clients pursue opportunities and manage risk across emerging and developed markets around the world. The firm counts more than 2,900 lawyers worldwide, the Luxembourg office counts 120 lawyers and a total staff of more than 170.
