Two former banking executives have launched a $500 million fintech fund to invest in late-stage companies that are driving innovation and disruption in banking.
The fund was established in Luxembourg by Petr Šmída, a former CEO and chairman of Alfa Bank and GE Capital, and Cezary Smorszczewski, the co-founder and former deputy-CEO of Alior Bank, the first Polish fintech unicorn, which sold for $2B on the LSE in 2012.
Building its presence in London and Berlin, the Corviglia Capital Fund aims to deploy $250M in the first three years, which has already been secured in the first closing. It intends to take minority investments with tickets ranging from $10 to $50M.
Says Smorszczewski: “Having had firsthand experience building a fintech unicorn and decades of experience on the other side of the table working in financial services and banking, I decided to embark on this journey to support the next generation of founders and companies aiming to revolutionise the financial sector.”