Venture capital firm MiddleGame Ventures has announced a €10 million grant from Enterprise Ireland to create a pool of funding of up to €20m for Irish Fintech companies.
Enterprise Ireland joins other institutional, strategic and family office investors, including anchor investors the Luxembourg Future Fund (LFF) and the European Investment Fund (EIF), as well as S&P Global.
MGV will target companies at the Series A stage to drive the transformation of financial services from analog to digital and from centralised to decentralised.
MGV co-founders Pascal Bouvier, Michael Meyer and Patrick Pinschmidt said they were beginning a long-term partnership with Enterprise Ireland to support businesses in Ireland through their fund.
"We are excited to put our platform to work on behalf of Irish innovators solving difficult problems and re-architecting the financial services industry," they said.
Minister for Business, Enterprise and Innovation, Heather Humphreys said venture capital is essential for the growth and development of successful high potential Irish business.
"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."