Blackfin Capital raises €985m for Fund III final close


Financial services-focused Blackfin Capital has raised €985m for the final close of its third fund, FPCI BlackFin Financial Services Fund III.

The raise saw the firm easily pass its initial €750m target for the vehicle, thanks to an expansion of its investor base in Europe and North America.

Blackfin said 40 per cent of commitments for the new fund came from France, 30 per cent from the rest of Europe and 30 per cent from the United States.

Blackfin raised €220m for its debut vehicle in 2011, before pulling in another €410m for the final close of its second fund in 2016.

The European firm is focused on financial services businesses such as payment providers, distribution and brokerage networks, asset managers, service providers and technology providers.

Rede Partners served as placement agent for the fund for its international fundraising, while Jasmin Capital advised on French institutions.

BlackFin founding partner Laurent Bouyoux said, “Our ambition is to be the leading partner of finance entrepreneurs in Europe. We would like to invite them to share with us their projects, to invest alongside us, and to participate in the transformation of the financial industry.

“We will also continue to be a strong partner for financial institutions that wish to organise the independence or pooling of some of their activities.”

In the Summer of last year, Blackfin beat its €150m target for its first FinTech-focused fund to close on €180m.

The buyout house has made three investments through Fund II this year, including financial advisor platform Bonnfinanz and real estate investment product distribution platform for wealth management advisors Consultim.

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