MiddleGame Ventures (MGV), a Luxembourg-based investment firm specializing in fintech startups, has successfully raised a new fund aimed at early-stage investments in Europe.
The fund is tailored to support the next generation of digital financial service innovators at the Post-Seed, Series A, and Series B investment stages. It encompasses a wide range of sectors within the financial industry, including both traditional and emerging verticals, as well as adjacent fields like deep-tech and cybersecurity.
The initial close of the fund was anchored by significant contributions from the European Investment Fund (EIF) and the Ireland Strategic Investment Fund (ISIF), which committed €32 million and €20 million, respectively. Additionally, returning investors such as S&P Global and the Luxembourg Future Fund (LFF) made further commitments, along with new and existing family office investors from Europe and the United States.
The fund remains open to both institutional and private investors, with a targeted final closing goal of €150 million set for early 2025.
Co-managing partner Pascal Bouvier remarked, “We believe that financial services are on the cusp of a wave of unprecedented innovation, highlighted by the transition from legacy automation tools to a fully digital financial services infrastructure. This transition will enable seamless business models to emerge, removing friction and paving the way for entrepreneurs to build substantial long-term businesses.”
Notable early-stage investments from previous MiddleGame funds and investment platforms include Wayflyer, Keyrock, Ripple, and DriveWealth. Bouvier indicated that the new fund is already active in the market, with several promising investments on the horizon.