MiddleGame Ventures, a fintech-focused investment firm, announced a $165m fund targeting post-seed, series A and series B lead investments in Europe and North America.
MGV’s Venture Fund I has achieved a first close of undisclosed amount from the Luxembourg Future Fund (LFF) and the European Investment Fund (EIF), which are anchor investors, whilst S&P Global is included among other institutional, strategic and family office investors.
The fund will invest in and partner with B2B and B2B2C startups driving the transformation of financial services from analog to digital and from centralized to decentralized, with a focus on middleware and back office solutions. Its remit extends to enabling technologies such as RegTech, Digital Identities, “FinData” and crypto-enabled infrastructure across banking, asset management, insurance, payments, and capital markets.
The fund, which remains open to additional institutional and private investors ahead of a final close later in 2020, has already made three representative investments in Nivaura, Railsbank and Gardenia Technologies.
Led by Pascal Bouvier, Michael Meyer and Patrick Pinschmidt, MiddleGame Ventures is a financial services technology venture capital firm with a focus on supporting innovation in the financial sector as organizations reinvent themselves to compete and service clients in the digital age.
Central to the firm’s thesis is that disruption in banking, payments, capital markets, asset management and insurance business models by new intermediaries will drive a fundamental re-architecting of incumbents and create entirely new value chains.
MGV, which is headquartered in Luxembourg with offices in Dublin and Washington DC, also owns and operates NadiFin, a growth stage accelerator for European startups, based out of Luxembourg.