Luxembourg-based Middlegame Ventures, an investment firm focused on fintech startups, the initial close of its third fintech fund, using the digital fund operations platform provided by Fundcraft, a Luxembourg-based fintech specialising in digital fund management.

Middlegame Ventures stated that it used Fundcraft’s digital operations to streamline daily fund activities, compliance and reporting. Julien De Mayer, founder and CEO of Fundcraft, on Tuesday 16 July that this milestone showed the strength of their platform and their team’s expertise in digital fund operations. He expressed satisfaction in supporting Middlegame Ventures, a fellow Luxembourg business, in their mission to support fintech innovators.

, co-managing partner at Middlegame Ventures, highlighted the benefits of partnering with Fundcraft. He noted that Fundcraft’s technology streamlined their operations, allowing Middlegame to focus on investing in innovative fintech startups. Bouvier added that the digital approach improved their operational capabilities and aligned with Middlegame’s investment philosophy.

Middlegame’s third fund aims to invest in new digital financial service pioneers at the post-seed, series A and series B stages. It will cover all legacy and emerging financial sector areas, including deep-tech and cybersecurity. The fund’s first close was backed by the European Investment Fund and the Ireland Strategic Investment Fund). Returning investors included S&P Global and the Luxembourg Future Fund, noted the press statement, along with family office investors from Europe and the United States.

The fund remains open to additional institutional and private investors, the VC firm said, aiming for a final close of €150m by early 2025. A representative of Middlegame Ventures told Delano that it has raised €60m as of first closing.