Middlegame Launches €150m FinTech Fund

MiddleGame Ventures has launched a new €150MM fund targeting FinTech investments in Europe and North America.

MGV’s Venture Fund I has already made three representative investments in financial technology startups in the UK: Nivaura, Railsbank and Gardenia Technologies. The fund plans to invest in and partner with B2B and B2B2C startups, with an emphasis on middleware and back-office solutions.

The Luxembourg Future Fund (LFF) and the European Investment Fund (EIF) are anchor investors in the new MGV fund, along with S&P Global.

“We are pleased to have new capital from substantial investors to support great, transformational businesses across Europe and the US with our highly focused fund. Our investors agree that specialist funds with experience working with entrepreneurs, incumbent financial institutions and regulators are best placed to thrive in an environment characterized by financial and technological cross-currents and significant regulatory constraints. We are excited to put our platform to work on behalf of investors and the next wave of innovators solving hard problems and re-architecting the industry,” FinTech investment veteran Pascal Bouvier, co-founder of MGV, said in a press release.

Patrick Nickels, the chairperson of the Luxembourg Future Fund board of directors, added that the fund would bolster emerging FinTech firms and make the overall industry stronger.

“We are pleased to be an investor of MiddleGame Ventures fund aiming to support early-stage FinTech companies,” he said in a statement. “The Luxembourg Future Fund believes this commitment will help to strengthen the FinTech industry in Europe and generate positive spillovers in Luxembourg. This is a strategic sector for Luxembourg for economic diversification and we are delighted to contribute to its continuing development.”

“We are delighted to be supporting MiddleGame Ventures as an anchor investor in its new fund,” said the EIF’s chief executive Pier Luigi Gilibert. “The EIF has a strong commitment to innovation in Europe, and we hope that this fund, with its focus on FinTech entrepreneurs, will assist us in that goal.”