Reciprocal pulls in up to $25m for FinTech fund

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fintech insurtech wealthtech regtech ai cybertech esg news

New York-based venture capital newcomer Reciprocal Ventures has pulled in at least $25m towards its debut FinTech-focused fund.

A total of seven investors have had capital registered to the Reciprocal Ventures I fundraise to date, an updated US Securities and Exchange Commission filing shows.

AltAssets revealed in March that Reciprocal was out eyeing up to $60m for the fund. ShoreBridge Capital Advisors is now acting as a US-based placement agent, the latest filing adds.

Reciprocal was launched by Michael Steinberg, a former trader with hedge fund SAC Capital Advisors.

Fintech venture capital investor Josh Kuzon has been hired by Steinberg to work as a principal according to his LinkedIn profile.

Prior to joining Reciprocal, Kuzon worked at Silicon Valley Bank, working in the payments strategy and corporate development team.

Last month Blackfin Capital has pulled in more than €100m at the first close of its second FinTech-focused fundraise in two years.

A few days earlier NewAlpha Asset Management closed what it claims is the first venture capital fund solely dedicated to French FinTech investments on €56m.

Copyright © 2017 FinTech Global

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