EJF Capital Secures $104 Million for EJF Ventures Fund
Rebeca Moen Sep 21, 2023 03:48
EJF Capital LLC has closed its EJF Ventures Fund LP, raising $104 million. The fund focuses on investing in financial technology firms, including blockchain infrastructure, bank technology, and software for wealth management. EJF Ventures has invested in twelve early-stage companies in the US, UK, and Israel.
EJF Capital LLC, a global alternative asset management firm based in Arlington, Virginia, has successfully closed its EJF Ventures Fund LP with capital commitments amounting to approximately $104 million. The fund garnered support from both new and returning investors.
EJF Ventures primarily targets investments in budding financial technology firms that are developing products with the potential for widespread adoption in the financial services sector. The fund's focus areas include blockchain infrastructure, bank technology, and software for wealth management and capital markets. Moreover, EJF Ventures extends strategic guidance and capital to startups that are innovating in areas such as real-time payments, data analytics, risk management, and customer acquisition.
Neal J. Wilson, Co-Founder and Co-CEO of EJF, commented on the fund's mission, stating, "EJF Ventures aims to support top-tier entrepreneurs who are redefining the current financial system and global commerce." He further highlighted the firm's unique position, leveraging EJF Capital's extensive expertise and global connections to enhance the fund's investment sourcing and execution capabilities.
Jonathan Bresler, Managing Partner of EJF Ventures, emphasized the ongoing transformation in the financial services sector, driven by data. He noted, "This transformation presents enticing opportunities for early-stage investments to yield long-term capital growth." Bresler expressed enthusiasm about the potential of blockchain technologies and the swift innovation in core banking and capital markets technology.
Since its establishment in January 2022, the EJF Ventures Fund has made investments in twelve early-stage companies located in the US, UK, and Israel. These companies operate in various financial services sub-sectors, including payments infrastructure and consumer financial services.
EJF Capital, founded in 2005 by Manny Friedman and Neal Wilson, manages assets worth approximately $6.6 billion as of June 30, 2023. The firm has a global presence with offices in London, England, and Shanghai, China.
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