Statement by Luminova Ventures Fund SCSp on the article “Ředitelka Solvo institutu financuje izraelské špionážní technologie”

The article contains misleading information about the fund’s strategic focus, the companies we support and the fund’s alleged lack of transparency. We think it is important to set the record straight.

Investment focus
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The fund invests in dual-use technologies that strengthen the security and resilience of Europe and its allies. These include cybersecurity, critical infrastructure protection, AI security and secure communications. We choose investments based on the quality and validation of the technology, including in countries such as Israel. Every investment decision is made only on the basis of investment criteria and is overseen by our Advisory Board and the fund’s Luxembourg managers. The fund’s investments do not support any espionage or political agenda. Every investment is also screened, and the screening covers sanctions regimes, export controls and foreign investment rules.

Companies we support

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The article links the fund to Corsight AI. Luminova has no investment in that company. The only connection is through AWZ, which is one of Corsight AI’s investors. AWZ is a separate investment group with a broader scope that includes biotechnology, and it makes its investment decisions independently of the fund.

Fund structure and transparency

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Luxembourg is an EU member state and is not on the EU list of non-cooperative jurisdictions for tax purposes. The SCSp structure is standard for European investment funds. For investments from the European Investment Fund, it is actually the preferred structure. The fund is tax transparent, which means Czech investors pay tax on their returns in the Czech Republic. Information about their holdings is shared with the tax authorities through the automatic exchange of information.

Oversight and control

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The fund’s general partner is registered with the Luxembourg regulator CSSF as an alternative investment fund manager. The fund has an independent administrator, auditor and legal counsel. It meets its AML/KYC obligations, and its financial statements are audited. This structure is also well known on the Czech market and is a common alternative to the Czech SICAV.

If the article has caused you any concern, please get in touch with us. We would be glad to go through any of these points with you in person or on a call.

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Kind regards,

Olga Chabr Grillová
General Partner, Luminova Ventures

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