MiddleGame Ventures, the Luxembourg-based fintech VC, has announced a new fund for early-stage lead investments in startups from Europe and North America. The fund has made its first close toward the target of €150 million and remains open to more investments until a final close later in 2020.
MGV’s Venture Fund I will go to B2B and B2B2C companies that are using technology to disrupt financial services. Specifically, the firm is eyeing technologies in areas such as RegTech, digital identities, “FinData” and crypto-enabled infrastructure across banking, asset management, insurance, payments, and capital markets.
In fact the fund has already made three representative investments: Nivaura, a capital markets digital platform; Railsbank, a banking-as-a-service platform; and Gardenia Technologies, a big data analytics startup.
The firm was founded by Pascal Bouvier, Michael Meyer, and Patrick Pinschmidt, three veterans who have collectively invested €300 million in financial services ventures. This first fund is made possible by contributions from the European Investment Fund and the Luxembourg Future Fund.