Fintech
MiddleGame Ventures announces the initial closing of its third FinTech fund with a target of €150 million
MiddleGame Ventures (MGV), a Luxembourg-based investment firm focused on fintech startups, announced today that it has created a new fund targeting early-stage investments in Europe. The fund is designed to support the next generation of digital financial services pioneers in the Post-Seed, Series A and Series B investment stages across legacy and emerging financial industry verticals, including adjacent deep tech and security sectors informatics.
The European Investment Fund (EIF) and the Irish Strategic Investment Fund (ISIF) set the initial close, committing €32 million and €20 million respectively. Returning investors, including S&P Global and Luxembourg Future Fund (LFF), have made further commitments. New and existing family office investors across Europe and the United States also participated in the initial closing. The fund remains open to further institutional and private investors ahead of a targeted final close of €150 million in early 2025.
Pascal Bouvier, Co-Director based in Luxembourg, announced: “We are grateful for the support of our investors who share our belief that specialist funds with experience working with entrepreneurs, financial institutions and regulators are best positioned to successfully partner with the innovators designing the new financial services landscape. We believe financial services is on the cusp of an unprecedented wave of innovation, highlighted by the transition from legacy automation tools to a fully digital financial services infrastructure. This transition will enable seamless business models to emerge, eliminating friction and paving the way for entrepreneurs to build meaningful long-term businesses.”
Commenting on the investment, Marjut Falkstedt, Chief Executive of the EIF, said: “Fintech companies are at the forefront of financial innovation by developing new digital solutions that can play an important role, among other things, in improving the accessibility, quality and safety of financial services. That is why we are delighted to renew our collaboration with MiddleGame Ventures to support European entrepreneurs and contribute to the digital transition of the financial sector.”
Brian O’Connor, Senior Investment Director, ISIF, said: “This commitment is an example of how ISIF aims to support Irish businesses under its dual mandate, deploying capital on a commercial basis, supporting the scaling of local businesses which will in turn generate economic activity and employment in Ireland. The fintech sector in Ireland has already demonstrated that it can create local businesses that will continue to compete globally and we look forward to working with MiddleGame Ventures to support this further growth and scale for Irish businesses.”
Sally Moore, executive vice president, global head of strategy, mergers and acquisitions and partnerships at S&P Global, added: “Collaboration with fintech participants is a key component of our partnership strategy. The MiddleGame Ventures team is a valuable source of expertise and insights into emerging innovation, particularly the digitalization of financial markets.”
MiddleGame Ventures supports visionary entrepreneurs navigating the complexities of the growth phase, or MiddleGame. The company provides the guidance and support they need to thrive in today’s evolving market, operational and regulatory environment.
Notable early-stage investments in previous MiddleGame funds and previous investment platforms include Wayflyer, Keyrock, Ripple, and DriveWealth.
The new fund is already active on the market, with several new investments on the horizon.