MiddleGame Ventures sets sights on FinTech opportunities in Europe and North America with new fund

MiddleGame Ventures, a FinTech-focused investment firm, has revealed its new €150m fund which will target startups in Europe and North America.

The firm has held the first close of the vehicle as is continues onto the final close goal of €150m. The Luxembourg Future Fund (LFF) and the European Investment Fund (EIF) are anchor investors to the fund, with S&P Global and other institutional, strategic and family office investors also joined the fundraise.

A final close for the vehicle will happen later in 2020.

With the new investment fund, the venture firm will concentrate on post-seed, Series A and Series B rounds of B2B and B2B2C startups working in the financial services space. While the firm will back startups across the ecosystem, it will particularly look towards middleware and back-office solutions.

To date, the firm has invested a total of $300m into startups in the financial services space including challenger bank Tandem, insurance comparison platform CoverHound and currency exchange and remittance platform Ripple.

Luxembourg Future Fund board of directors chairperson Patrick Nickels said, “The Luxembourg Future Fund believes this commitment will help to strengthen the FinTech industry in Europe and generate positive spill overs in Luxembourg. This is a strategic sector for Luxembourg for economic diversification and we are delighted to contribute to its continuing development.”

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