MiddleGame Ventures, a leading financial services technology venture capital firm, and Expon Capital co-led the fundraising backed by existing shareholders. Next Gate Tech will use the funds to invest in talent acquisition and expand their client offering.

Davide Martucci, Chief Executive Officer, commented: "We are happy to announce the successfully closed round, backed by our existing shareholders Expon Capital, Seeder Fund and Business Angels from Yeast and Be Angels Network. We are pleased to welcome MiddleGame Ventures, who will expand our robust investor base and will help us with our strategic development. The trust our existing shareholders are expressing with their commitment, coupled with the arrival of a new specialized FinTech investor, creates an optimal context for enhancing our solution and accelerating our business development.

This latest financing will allow us to further develop our innovative methodologies of data management and analytics in the funds middle and back-office space. We expect to further expand our modules based one-stop-shop smart, automated solution for Management Companies and continuously roll out the solution to other players across the fund industry value chain.”

Pascal Bouvier, Managing Partner, MiddleGame Ventures: “We are delighted to help Davide and his team with their vision to automate complex processes within the funds management industry. We strongly believe smart data driven automation to be the future of asset management which is why we are backing Next Gate Tech. We are further excited to participate in the development of cutting edge fintech solutions based out of Luxembourg.”

Jérôme Wittamer, Managing Partner, Expon Capital: “The Digital Tech Fund is thrilled to be backing such a highly talented team once again. With its powerful solution, we strongly believe that Next Gate Tech is on the brink of revolutionizing how part of the fund industry operates. Thanks to the cloud and RPA, the future is here, it is just not yet evenly distributed. We can’t wait to see clients discover how valuable it is.”

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About MiddleGame Ventures: MiddleGame Ventures (MGV) is a leading financial services technology venture capital firm. Its focus is on supporting innovation in the financial sector as organisations reinvent themselves to compete and service clients in the digital age. Central to MGV’s thesis is that disruption in banking, payments, capital markets, asset management and insurance business models by new intermediaries will drive a fundamental re-architecting of incumbents and create entirely new value chains. MGV is well-positioned to help this financial services renaissance based on the founding team’s extensive investment, operational and regulatory experience. MGV was established in 2018 by Pascal Bouvier, Michael Meyer and Patrick Pinschmidt. Bouvier and Meyer have substantial FinTech investment experience having co-founded one of the industry’s first FinTech-only venture funds at Route 66 Ventures. Pinschmidt was a senior official at the US Treasury Department following a decade as a sell-side research analyst covering financial services for Morgan Stanley and Merrill Lynch. MGV is headquartered in Luxembourg with offices in Dublin and Washington DC. MGV also owns and operates NadiFin, a growth stage accelerator for European startups www.nadifin.com. For more information on the MGV team, strategy and portfolio, please visit www.middlegamevc.com.

About Digital Tech Fund: The €20 million Digital Tech Fund illustrates Luxembourg’s unwavering commitment to its digital future. As part of the Digital Luxembourg initiative, the seed fund supports ICT startups, strengthening the country’s ecosystem. A joint public-private partnership & truly a communal effort, the fund received contributions from the government, Société Nationale de Crédit et d'Investissement (SNCI), the University of Luxembourg, SES, Post, Proximus, BIL, Arendt and several successful entrepreneurs from Luxembourg.

About Seeder Fund: Belgian private Venture Capital fund dedicated to financing young technology and digital startups. With a rapid decision process in 3 meetings, giving access to a first financing via a convertible note, Seeder Fund seeds about 10 companies per year, with the ambition to support the growth of the most promising ones by investing up to 1.000.000€ in each of such selected start-up. The startups financed by the Seeder Fund can count on the combined experiences of the management team with more than 140 startups financed and supported.

About Be Angels: Be Angels brings together entrepreneurs looking for support and financial means and private investors, Business Angels, ready to invest in promising companies. With 19 years of experience and 300 members, Be Angels has built one of the most important Business Angels networks in Europe. The project leaders are very well taken care of, and are connected with Business Angels who will be able to increase their chances of success. For more information, please visit: www.beangels.eu