The fund has so far secured £250m to invest over the next three years and plans to inject $500m into Europe’s fintech industry.
Today sees the launch of the Luxembourg based Corviglia Capital Fund. With a model focusing on late-stage fintech companies, the fund plans to develop disruptors in banking and financial services.
Corviglia Capital is the product of collaboration between two former financial institutional managers, Petr Šmída and Cezary Smorszczewski. The fund has secured $250m which it aims to invest within the next three years. The target is to raise $500m in capital to invest around the globe.
Within fintech, the specific companies of interest will specialise in artificial intelligence, cybersecurity and regulatory technology. The firm is focusing on potential investment targets primarily within the UK and Germany for the first 12-months, while building the company’s profile. After the first year, it plans to expand internationally.
Šmída and Smorszczewski have a cumulative 45 years of experience within the finance industry. Šmída will build on his experience, having already co-founded the venture capital firm Enern, which invests in tech companies.
Smorszczewski will also be contributing his many years of experience having co-founded two tech-specialist firms. He founded Alior Bank, Poland’s first fintech unicorn, in 2007 and then Private Equity Managers,which also concentrates on fintech companies, in 2014.
Šmída said in a statement: “Banking and financial services are entering a period of unprecedented change with the leadership of the best entrepreneurs of today. We decided to set up Corviglia Capital Fund to find those very entrepreneurs and invest in their growth.”