Monroe Capital has co-sponsored Thunder Bridge Acquisition, a purpose-build acquisition company for FinTech companies.
The deal also sees Monroe enter into a forward purchase contract with Thunder Bridge.
Thunder Bridge is a company built for merging, stock exchange, asset acquisition, stock purchase and reorganisation. The firm will focus on companies operating within the FinTech space.
It recently generated gross proceeds of $258m from its initial public offering, which began trading on the Nasdaq Capital Market on June 19 2018. These funds were also raised through the exercise of the over-allotment option. The company is listed on the exchange as TBRGU.
Monroe Capital is a private credit asset management firm which is specialised in direct lending and private credit investing. The firm has deployed a handful of credit facilities to FinTech companies over the years, including PropTech CRM solution Reapit and Online payment processor Repay.
There has been a lot of investment funds with an interest in the FinTech space to start fundraising or close over the past month. Earlier in the week, Luminate Capital Partners set its sights on $425m for its sophomore fund, while Valor Equity Partners held the $1.05bn final close of its fourth buyout fund.
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