BlackFin Capital Partners announces a second closing of its Tech 2 fund dedicated to to European fintechs and insurtechs at €350m
Paris, 11 July 2022
After launching its first Tech 1 fund of €180m in 2018, BlackFin confirms its status as a leading independent investor in European fintechs.
Financial services investment fund, BlackFin Capital Partners, has announced a second closing of its Tech 2 fund at €350m. The fund, which is already double the size of its predecessor, will invest in European B2B fintechs and insurtechs.
Buoyed by the confidence and support of its historic investors, as well as a reinvestment rate well in excess of 100%, the reinvestment rate of well over 100%, the management company has expanded its investor base in Europe and North America.
At a time when market conditions are putting the spotlight back on disciplined investment strategies, BlackFin reaffirms with this Tech 2 fund its appetite for B2B companies operating with strong operational metrics. The predecessor fund Tech 1, with €178m raised in July 2018, is fully invested in 17 European companies that are emerging as market leaders, demonstrating an excellent level of efficiency and resilience.
The BlackFin Tech 2 fund has made a first investment in Descartes Underwriting, a leading parametric insurance company that insures companies and governments against the risks associated with climate change. Founded in 2018, Descartes already has a global reach in this segment of commercial insurance segment, with more than 50% of turnover generated outside Europe through its offices in North America and Asia. The company continues to double in size every year while maintaining excellent operational and commercial metrics.
The Tech 2 fund is strategically positioned to support the profound transformation of financial services. Technological disruptions, regulatory changes and new user habits are generating tremendous opportunities for B2B fintechs and insurtechs. Composed of 10 tech investment specialists, BlackFin Tech's teams are perfectly sized to support its portfolio companies in their commercial development, geographical expansion and their successive fund-raising.
BlackFin has also strengthened its investment platform with around ten new hires over the last twelve months, particularly in its Frankfurt and London offices. Its differentiated investment strategy, the size of its Buyout and Tech funds and its large team of experts based in France, Germany, the UK and Benelux enable it to deliver strong and consistent financial returns.
Laurent Bouyoux, Founding Partner of BlackFin, comments: "Our ambition is to be the preferred partner of partner for European financial services entrepreneurs. The trust and renewed support of our investors, the size of our of our investors, the size of our teams and the success of the BlackFin Tech 2 fund reinforce our position as a leading investor in European financial services. Our Tech investment strategy continues to add significant value to the platform and is an indispensable component of our investment strategy.”
Julien Creuzé, Partner at BlackFin, concludes: "Exceptional entrepreneurs and companies are asserting themselves in times of crisis. The next few years should give them the opportunity to build market leaders. The Tech 2 fund is there to support them with capital, networks and strong sector expertise.”
BlackFin Capital Partners is supported by the investment agents Jasmin Capital in France and Rede
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About BlackFin Capital Partners
With €2.4 billion under management, BlackFin is Europe's leading private equity firm specialist in financial services, fintechs and insurtechs. BlackFin currently invests in its €1 billion Buyout III and €350 million Tech 2 funds, targeting established and profitable financial services companies and B2B fintechs and insurtechs respectively.
Founded in 2009, BlackFin Capital Partners is an independent management company owned and managed by nine partners who have worked together as executives, managers and investors for many years. The team consists of 45 professionals in its offices in Paris, London, Frankfurt and Brussels.
More information is available on the website www.blackfin.com, www.blackfin-tech.com
Press contacts
NewCap
Nicolas Merigeau
Media Relations
nmerigeau@newcap.fr
+33 1 44 71 94 98
BlackFin Capital Partners
Julien Creuzé
Partner
julien.creuze@blackfin.com
