BlackFin Capital Partners launches €120m VC fund

The fund is to focus on European fintech companies, an adjacent sector to the GP's mandate of investing in financial services.

The fund launch was in response to a "growing market opportunity", according to the GP, which has so far closed two buyout funds: BlackFin Financial Services Fund I, closed on €220m, short of its €300m target in 2011, and BlackFin Financial Services Fund II closed on its €400m hard-cap in February this year.

BlackFin is expecting to finalise a first closing in Q4 2016 and a final closing in Q1 2017. The GP is currently hiring a team of six to run the fund.

Investors
The fund is targeting €120m of institutional commitments from a broad range of European investors. No more information regarding potential investors was given at this stage.

Investments
The fund will partner with entrepreneurs at all investment stages, from seed to late-stage rounds. It will focus on the fintech sector including all aspects of banking, payments, wealth and asset-management, brokerage, insurance, insurance distribution, financial software and technology, technology related to regulatory requirements and financial media.

People
BlackFin Capital Partners – Laurent Bouyoux (president).

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