DLA Piper advises MiddleGame Ventures on the set up and launch of new fintech fund.

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DLA Piper has advised fintech venture capital firm MiddleGame Ventures (MGV) on the structuring, setting up and launching of the MGV Fund I. The new fund will invest in early stage fintech startups developing new business models powered by advanced technologies.

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25/11/2019 |
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This is one of the first fintech funds backed by the Luxembourg Future Fund and the European Investment Fund. Other investors include S&P Global and institutional, strategic and family offices. The fund remains open to additional institutional and private investors ahead of a final close later in 2020.

The DLA Piper Luxembourg-based Investment Funds team was led by partner Catherine Pogorzelski, assisted by associate Marceau Visano and trainee Laura Massagé. Partner Jacques Wantz and associate Emre Akan advised on the tax aspects, while Intellectual Property & Technology partner Olivier Reisch and senior associate David Alexandre also advised on the transaction.

Commenting on the deal, Catherine Pogorzelski, said: “It is a great pleasure to advise MGV on such a high-profile mandate. It is fantastic to see them bringing Luxembourg to the next level in the growing fintech sector and we very much look forward to seeing them developing their investment strategy.”

MGV was founded by FinTech investor Pascal Bouvier along with Michael Meyer and Patrick Pinschmidt. Pascal Bouvier, Managing Partner at MGV, said: “We are eagerly looking forward to supporting innovation in financial technology across the European Union and the United States. We also would like to thank all the investors and partners who made our first MGV fund possible.”

MGV is a Venture Capital firm focused exclusively on early-stage financial services technology innovation. MGV partners have invested over USD$300 million in early-stage financial services firms over the past decade including Ripple, Tandem Bank, SimpleSurance, Coverhound and CompareAsia. MGV’s new fund has already made three representative investments in a capital markets digital platform and banking as a service and big data analytics startups in the UK (Nivaura, Railsbank and Gardenia Technologies).

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