Fintech venture capital firm Middlegame Ventures (MGV) has reached first close €150 million in its efforts to invest in early-stage start-ups in Europe and North America.
The fund aims to enter partnerships with both business-to-business (B2B) and business-to-business-to-consumer (B2B2C) start-ups, and has a stated goal of underpinning the industries digital transformation.
The Luxembourg Future Fund (LFF) and the European Investment Fund (EIF) will act as the cornerstone investors in the new MGV fund, and S&P Global will be also involved.
MGV’s fund will be ready to welcome any other investors interested to participate before the final close in 2020.
“We are pleased to have new capital from substantial investors to support great, transformational businesses across Europe and the US with our highly focused fund,” says Pascal Bouvier, co-founder of MGV.
“Our investors agree that specialist funds with experience working with entrepreneurs, incumbent financial institutions and regulators are best placed to thrive in an environment characterised by financial and technological cross-currents and significant regulatory constraints.”