Credit: fundcraft/MGV
On Tuesday 16 July 2024, fundcraft, a pioneering fintech specialising in digital-native fund operations, announced the successful initial close of MiddleGame Ventures’ third Fintech Fund.
The fund, targeting €150 million, leverages fundcraft’s digital platform to streamline operations and enhance efficiency.
MiddleGame Ventures noted it has utilised fundcraft’s state-of-the-art digital operations to achieve a unified fundraising process. fundcraft’s solutions, including daily fund operations, compliance and reporting, are all integrated within a single digital platform, aiming to ensure a seamless and transparent fund management experience.
"This milestone is a testament to the strength of our platform and our team's expertise in delivering top-tier digital fund operations," said Julien De Mayer, Founder & CEO of fundcraft. "We are thrilled to support MiddleGame Ventures in their journey to empower the next generation of fintech innovators, and we’re especially pleased to support another home-grown Luxembourg business."
According to the companies, the close of MiddleGame Ventures' fund represents a notable milestone in the fintech industry, illustrating the capabilities of digital solutions in managing complex fund operations.
"We are excited to partner with fundcraft, whose technological prowess has enabled us to streamline our fund operations and focus more on our core mission of investing in disruptive fintech startups," said Pascal Bouvier, Luxembourg-based Co-Managing Partner at MiddleGame Ventures. "Their digital approach not only enhances our operational capabilities but also aligns perfectly with our investment philosophy."
MiddleGame’s third fund will invest in new digital financial service companies at the Post-Seed, Series A and Series B stages. These investments aim to cover emerging financial sector verticals and related deep-tech and cybersecurity sectors.
The first close of MiddleGame’s new fund was led by the European Investment Fund (EIF) and the Ireland Strategic Investment Fund (ISIF). Returning investors included S&P Global and the Luxembourg Future Fund (LFF). Family office investors from Europe and the United States also joined in. The fund is still open to more institutional and private investors, aiming to reach €150 million by early 2025, according to fundcraft.
