/start ups

News and resources on fintech start-ups, scale-ups, hubs, accelerators, VCs and funding worldwide.
Enterprise Ireland tops up Middlegame fintech fund

Enterprise Ireland tops up Middlegame fintech fund

Fintech-focused VC firm Middlegame Ventures has received a a €10 million top up from Enterprise Ireland to create a pool of funding of up to €20m for Irish financial technology startups.

The announcement follows the November 2019 first close of MGV’s new fund targeting post-seed, series A and series B lead investments in Europe and North America. A final close of the fund, with a target size of €150M, is slated for year-end 2020.

MGV says it will target companies at the Series A stage, with an emphasis on middleware and back office technology capable of driving digital transformation programmes.

MGV was established in 2018 by by former Route 66 alumni Pascal Bouvier and Michael Meyer, alongside US Treasury official Patrick Pinschmidt.

Says Bouvier: "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.”

The firm plans to open an office in Dublin to deepen its engagement with the local startup scene.

Irish Minister for business, enterprise and innovation, Heather Humphreys says: “This fund is very important because it marks a significant increase in the availability of capital for start-ups in fintech, supporting the sustained growth and internationalisation of this vibrant sector. Venture capital has increased in importance for start-ups and high potential firms in accessing finance as we enter the recovery phase of the COVID-19 pandemic.”

Comments: (0)