On April 26th, TusPark launched its “China-Luxembourg Innovation Investment Fund”, at the Banque Internationale à Luxembourg. During the launch ceremony, TusPark announced the creation of an investment fund focused on attracting Chinese fintech start-ups to establish business in Luxembourg. The fund could go up to 100 million EUR.
TusPark Europe is part of Tus-Holdings (or Tsinghua University Science Park) which is a large integrated high-tech enterprise that builds business parks. It takes full responsibility for developing, constructing, operating and managing TusPark, and it’s one of the first Chinese National Demonstration Enterprises in modern service industry.
TusPark opted to specialize in 3 core activities: innovation parks, industry and finance. Today, it covers an area of 770,000 square meters and includes 1,500 companies, comprising many research and development headquarters.
This “innovation magnet” is present in about thirty countries all over the world. In Europe, it has a presence in Italy, the Netherlands, Sweden and Switzerland, in addition to its European headquarters in Luxembourg.
According to its website, the holding company, shareholder, or majority shareholder in 800 companies manages 200 billion RMB or 26.4 billion euros.
The Luxembourg based fund, for the moment strictly powered by the parent company, Tus-S & T Service Group, will have to go through the regulatory route and the CSSF (Luxembourg financial regulator), if it were to be distributed and open to other investors.