Expon Capital, a Luxembourg based Venture Capital, led the fundraising through the Digital Tech Fund, a Luxembourg joint public-private fund. The round has been co-subscribed by Seeder Fund, the Belgium based venture capital, and Business Angels from Yeast and Be Angels networks.

Davide Martucci, Chief Executive Officer, said: "We are proud to share that we successfully closed our Seed Round of fundraising. We are delighted to welcome some big names of the Benelux VC and business angels' networks. We are excited about the funding partnerships we've accomplished and the value those investors bring to the company and to our clients. We share with both Expon Capital and Seeder Fund teams the same mindset regarding innovation, and long-term partnership. They provide the necessary strength to our company to roll out in Luxembourg and across Europe and continuously enhance our solution."

Marc Gendebien, of Expon Capital, said: "From the first time we met Next Gate Tech, we saw their solution as a leap forward for the fund industry. We were impressed by how powerful it is. It perfects and automates the data flow of the fund management industry to ensure the accuracy of vital tasks in fund oversight. This advance for the industry is a time warp for daily tasks, bypassing long-lead times on quarterly and annual reporting. The overwhelming feedback from existing and prospective customers proved to us that Next Gate Tech's solutions are a "must-have" for the fund industry. There is no way back. CEO Davide Martucci and his team speak the language of fund oversight and came directly from years of experience as fund managers."

David Van Tieghem of the Seeder Fund said: "We appreciated the genesis of Next Gate Tech, which developed its solution to initially respond to its own need of private fund manager, before realizing that there was a market opportunity."

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About Digital Tech Fund: The €20 million Digital Tech Fund illustrates Luxembourg’s unwavering commitment to its digital future. As part of the Digital Luxembourg initiative, the seed fund supports ICT startups, strengthening the country’s ecosystem. A joint public-private partnership & truly a communal effort, the fund received contributions from the government, Société Nationale de Crédit et d'Investissement (SNCI), the University of Luxembourg, SES, Post, Proximus, BIL, Arendt and several successful entrepreneurs from Luxembourg.

About Seeder Fund: Belgian private Venture Capital fund dedicated to financing young technology and digital startups. With a rapid decision process in 3 meetings, giving access to a first financing via a convertible note, Seeder Fund seeds about 10 companies per year, with the ambition to support the growth of the most promising ones by investing up to 1.000.000€ in each of such selected start-up. The startups financed by the Seeder Fund can count on the combined experiences of the management team with more than 140 startups financed and supported.

About Be Angels: Be Angels brings together entrepreneurs looking for support and financial means and private investors, Business Angels, ready to invest in promising companies. With 19 years of experience and 300 members, Be Angels has built one of the most important Business Angels networks in Europe. The project leaders are very well taken care of, and are connected with Business Angels who will be able to increase their chances of success. For more information, please visit: www.beangels.eu

About Yeast: Yeast is the main business angels network in Grand Est (France), mainly focused on young digital startups. Its 20 members, successful entrepreneurs, invest 8 to 10 startups per year, in France and Luxembourg.