Investment firm MiddleGame Ventures announces initial close of third fintech fund with €52m
MiddleGame Ventures (MGV), a Luxembourg-based investment firm focused on fintech startups, announced it has raised a new fund targeting early-stage investments in Europe. The fund is designed to support the next generation of digital financial service pioneers at the Post-Seed, Series A, and Series B investment stages across all legacy and emerging financial sector verticals, including adjacent deep-tech and cybersecurity sectors.
The European Investment Fund (EIF) and the Ireland Strategic Investment Fund (ISIF) anchored the initial close, committing €32 million and €20 million, respectively. Returning investors, including S&P Global and the Luxembourg Future Fund (LFF), made additional commitments. New and existing family office investors across Europe and the United States also participated in the initial close. The fund remains open to additional institutional and private investors ahead of a targeted final close of €150 million in early 2025.
Pascal Bouvier, Co-founder and Managing Partner, MiddleGame Ventures: ''We are grateful for the support of our investors who share our conviction that specialist funds with experience working with entrepreneurs, financial institutions, and regulators are best placed to successfully partner with the innovators architecting the new financial services landscape. We believe that financial services are on the cusp of a wave of unprecedented 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, removing friction and paving the way for entrepreneurs to build substantial long-term businesses.''
Marjut Falkstedt, Chief Executive, EIF: ''Fintech companies are at the forefront of financial innovation by developing new digital solutions that can play an important role in, among others, improving the accessibility, quality, and security of financial services. That is why we are glad to renew our collaboration with MiddleGame Ventures to support European entrepreneurs and contribute to the digital transition of the financial sector.''
MiddleGame Ventures supports visionary entrepreneurs navigating the complexities of the growth stage, or the MiddleGame. The firm provides the guidance and support they need to thrive in today’s ever-changing market, operational, and regulatory environment. Notable early-stage investments in predecessor MiddleGame funds and former investment platforms include Wayflyer, Keyrock, Ripple, and DriveWealth.
The new fund is already active in the market, with several new investments on the horizon.
