FinTech investment firm Blackfin Capital has pulled in more than €100m at the first close of its second fundraise in two years.
LPs such as Bpifrance, Groupama Group, Societe Generale Insurance, Natixis Insurances and Swiss Life have all commited capital to Tech Fund 1, which is out targeting up to €150m.
The firm pulled in €220m for its debut fund in 2011, and almost doubled that total with a €400m second fund last year.
Blackfinf was founded by FinTech entrepreneurs Laurent Boyeux, Paul Mizrahi, Eric May and Bruno Rostain in 2009.
The firm said it is now looking to team up with entrepreneurs in the RegTech, FinTech and InsurTech sector after changes in regulation, technologies and customer expectations.
Boyeux said, “As entrepreneurs, we feel particularly connected to the FinTech opportunity and are able to relate to all the great entrepreneurs that are making this opportunity happen.”
Earlier this month Blackfin entered an agreement with Intrum Injustitia to acquire 100 per cent of the shares in Buckaroo.
One year ago the firm exited payments provider Applicam after holding it for five years.
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