Fintech
MiddleGame Ventures launches its third fintech fund with 52 million euros
Investment company based in Luxembourg MiddleGame initiatives announced the initial close of its third fund, which will focus on early-stage investments. The fund will invest in companies across traditional and emerging financial sectors, including adjacent deep-tech and cybersecurity sectors. The new fund is already active on the market.
Backers of MiddleGame Ventures include the European Investment Fund, Ireland Strategic Investment Fund and S&P Global. Notable early-stage investments in previous MiddleGame funds and previous investment platforms include Wayflyer, Keyrock, Ripple, and DriveWealth.
The fund is designed to support digital financial services founders in the Post-Seed, Series A and Series B investment stages. The European Investment Fund (EIF) and the Irish Strategic Investment Fund (ISIF) have set the closing initial, committing 32 million euros and 20 million euros 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-managing partner based in Luxembourg, commented: “We are grateful for the support of our investors who share our belief that specialist funds with experience of working with entrepreneurs, financial institutions and regulators are best placed to collaborate successfully with the innovators who design the market. 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 the emergence of seamless business models continuity, removing friction and paving the way for entrepreneurs to build significant long-term businesses.”
Marjut Falkstedt, CEO of the EIF, said: “Fintech companies are at the forefront of financial innovation by developing new digital solutions that can play an important role in, among other things, improving accessibility, quality and security of financial services. That’s why we are pleased to renew our collaboration with MiddleGame Ventures to support European entrepreneurs and contribute to the digital transition of the financial sector.”
Sally Moore Executive Vice President and Global Head of Strategy, M&A 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.”