BlackFin Capital Partners – a € 2.4 billion asset management investment fund focusing on European financial sector growth companies – has raised € 350 million with its Tech 2 fund following another closure. The Tech 2 Investment Fund is already twice the size of its predecessor, Tech 1.
With this new fund, BlackFin focuses even more on strategic investments in the development of the most promising B2B fintechs and insurtechs (innovative business solutions in the insurance sector) in Europe. In the Netherlands, BlackFin has previously invested in Blauwtrust Groep (2021) – the parent company of De Hypotheker, Quion, DMPM and Conneqt – CED (2018), Friss (2017) and the payment service Buckaroo (2017). In addition, BlackFin will open an office in the Netherlands in the fourth quarter of this year. In doing so, the investment company emphasizes the Netherlands as an important region.
With Tech 2, BlackFin has managed to expand its global investor base further in Europe and North America. In addition, it receives support from existing investors and the reinvestment rate is over 100 percent.
Today’s challenging market conditions underline the importance of a disciplined investment strategy. In this context, BlackFin’s Tech 2 continues to target high-growth B2B companies with solid unit economy *. With its predecessor Tech 1, BlackFin raised 178 million euros in 2018, which has been invested in seventeen European companies – such as Dutch Friss – which are characterized by excellent performance, good growth prospects and robustness.
Laurent Bouyoux, co-founder and partner of BlackFin: “Our ambition is to remain the market leader in the financial sector in Europe. With the trust and support of our existing and new investors, our experienced specialists and the successful investments in BlackFin Tech 2, we strengthen our position as the undisputed leader in the European financial sector. Our tech strategy has added great value to our investment platform and is a critical part of our distinctive investment strategy. “
BlackFin Tech 2 has already made an initial investment in Descartes Underwriting. This is an international provider of parametric insurance products, including insurance for climate-related events, such as floods. Descartes was founded in 2018 and has been of great importance in the international insurance world ever since. The company has offices on all continents, and more than half of its revenue, with year-on-year growth well over 100 percent, is generated outside Europe.
Tech 2 is strategically positioned to respond to changes that are now taking place in the financial sector. For example, the emergence of new technology, international regulations and changing customer needs create opportunities for B2B fintechs and insurtechs. BlackFin’s team consists of ten tech investment specialists and is able to support and accelerate the development, growth strategy and international expansion of companies in its portfolio.
With the recruitment of twelve specialists – including in Frankfurt and London – BlackFin has over the past year built up a unique platform with the aim of investing throughout Europe. It does so on the basis of a differentiated investment strategy, comprehensive financing capital, both in tech and buyout, and with a local presence in France, the Benelux, Germany and the UK.
Julien Creuzé, partner at BlackFin: “Excellent entrepreneurs and companies make a difference in difficult and uncertain market conditions. In the coming years, we will offer such companies the opportunity to play a pioneering role in their sector. Tech 2 aims to support them with financing capital , our network and our deep sector expertise. ”