BlackFin commits €350m fund for European InsurTechs and FinTechs

BlackFin Capital Partners, a private equity and venture capital firm focusing on financial services, has closed its Tech 2 fund at €350m.

Founded by four FinTech entrepreneurs in 2009 – Laurent Bouyoux, Paul Mizrahi, Eric May and Bruno Rostain, BlackFin has been supporting the development of financial services companies across continental Europe.

According to a report from Silicon Canals, the Tech 2 fund is already double the size of its previous Tech 1 fund, which amounted to €178m as of July 2018. The fund was invested in 17 European companies.

The firm plans to double-down on its backing of promising B2B FinTechs as well as InsurTechs across Europe.

BlackFin Tech 2 Fund has already backed Descartes Underwriting, a Paris-based InsurTech company specialising in parametric insurance. The company participated in Descartes’ Series B round, which saw it raise $120m.

Laurent Bouyoux, founding partner of BlackFin, said, “Our ambition remains to be the leading partner of financial services entrepreneurs in Europe. With the continued trust and support of our investors as well as the size of our teams, the successful fundraising of BlackFin Tech 2 demonstrates our position as the undisputed leader in the European Financial sector. Our Tech strategy has continued to add immense value to our investment platform and is a critical component of our irreplicable investment strategy.”

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