Luxembourg-based MiddleGame Ventures has announced an initial close of its €150 million third fund at €52 million. It targets early-stage fintech startups across Europe.
- Co-founded in 2016 by Michael Meyer and Patrick Pinschmidt, MiddleGame Ventures is a venture capital firm specializing in fintech. The firm invests in companies engaged in financial technology, open finance, blockchain and crypto, automated financial data, and embedded ESG sectors across Europe and North America.
- Since its inception, MiddleGame Ventures has built a portfolio consisting of 23 startups and has made 34 investments in companies like Wayflyer, Keyrock, Ripple Ctrl Alt, Kayna, and One Trading. The firm has achieved four exits, including Coinfirm, Nivaura, AccessPay, and Capdesk.
- The new fund is designed to support the next generation of digital financial services at the post-seed, series A, and series B stages. It targets fintech startups across Europe, focusing on both traditional and emerging financial sectors, including related deep-tech and cybersecurity areas.
- The fund was backed by the European Investment Fund and the Ireland Strategic Investment Fund, which have committed €32 million and €20 million, respectively.
“The fintech sector in Ireland is one that has already demonstrated it can create local companies which go on to compete globally and we look forward to working with MiddleGame Ventures to support this further growth and scale for Irish businesses,” Senior Investment Director at ISIF, Brian O’Connor, commented.
- Other LPs include S&P Global and the Luxembourg Future Fund (LFF), which continue their support. Additionally, new family office investors from across Europe and the United States joined the list of backers.
- The fund is still open to additional institutional and private investors, aiming to reach a targeted final close of €150 million by early 2025. Already active in the market, the new fund is poised to make several new investments soon.
