FinTech-focused growth equity firm Corviglia Capital has launched in Europe, alongside the deployment of a new $500m fund.
The company is hoping to deploy $250m in the first three years, and build its presence in Berlin and London. Corviglia Capital Fund has already secured $250m through its first closing.
Corviglia Capital is geographically agnostic, and will look to make minority investments ranging from $10m to $50m. The firm will back FinTechs which are disrupting financial services and banking.
Corviglia Capital co-founder Smorszczewski said, “Having had firsthand experience building a fintech unicorn and decades of experience on the other side of the table working in financial services and banking, I decided to embark on this journey to support the next generation of founders and companies aiming to revolutionise the financial sector.”
The new firm was created in Luxembourg by Petr Šmída a founding partner of Eastern European/DACH venture capital firm ENERN, and co-founder and former deputy-CEO of Alior Bank Cezary Smorszczewski.
Earlier in the month, Dragonfly Capital Partners, another venture firm to have launched recently, released its maiden fund. The vehicle has a capital pool of $100m and will focus on the cryptocurrency market and technology evolving the space.
There have been a number of funds to close over the course of the last month, including a $1.88bn portfolio of vehicles from GGV Capital, a $110m cybersecurity vehicle by Glilot and a $150m Series A-focused fund by Mosaic Ventures.
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