BlackFin Capital Partners is launching a new venture fund, focusing on FinTech opportunities across Europe.
After successfully launching 2 generations of growth-equity financial services funds (Fund I: EUR220 million raised in 2011/Fund II: EUR400 million raised in 2016), BlackFin Capital Partners is leveraging its unique expertise in the venture capital segment.
The fund will partner with entrepreneurs at all investment stages, from seed to late-stage rounds. As a sector specialist firm, BlackFin and its team will provide these entrepreneurs with unique support regarding their strategy and growth, commercial access and credibility, but also regulatory guidance to establish best-of-breed companies. The team is being hired and will reach half a dozen professionals by the end of 2016.
The fund will focus on the FinTech space including all aspects of banking, payments, wealth and asset-management, brokerage, insurance, insurance distribution, financial software and technology, technology related to regulatory requirements, financial media, etc. The FinTech disruption potential is huge and concerns all financial activities. After a first wave of FinTech startups mainly focusing on distribution and customer relationship, new ventures are now providing full stack financial services rethinking the whole value chain.
Laurent Bouyoux, President of BlackFin Capital Partners, says: “As entrepreneurs and founders of Fortuneo we feel particularly connected to the FinTech opportunity and are able to relate to all the great entrepreneurs that are making this opportunity happen.”
BlackFin is expecting to finalise a first closing of its fund in Q4 2016 and a final closing in Q1 2017. The fund is targeting EUR120 million of institutional commitments from a broad range of European investors.
