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SGG and Goodwin support the launch of Viola Fintech, a new financial technology fund
SGG Group is pleased to announce its support in the setting up of a $100 million financial technology fund - “Viola Fintech”
Viola FinTech is a cross-stage venture fund that invests globally in FinTech companies alongside leading venture investors with the mission to bridge the gap between the worlds of financial institutions and innovative startups. The fund won backing from banks, insurance companies and asset managers from Europe, North America, the Asia-Pacific region and Israel, including Scotiabank, The Travelers Companies, Bank Hapoalim and Israel Discount Bank. Ultimately Viola FinTech aims to raise between $120 million and $150 million.
Viola Fintech is part of Viola , biggest technology-focused investment group in Israel with over $2.8 billion assets under management. The fund ,which announced first closing in December 2017, will be unregulated under Luxembourg laws, indirectly regulated through its AIFM.
Goodwin’s Luxembourg and London Private Investment Funds teams advised on the launch of the fund and was led by partner Alexandrine Armstrong-Cerfontaine with assistance from partner Greg Barclay, and associates Dominic Wong and Oana Millich.
Ms Armstrong-Cerfontaine said: “It was a privilege to help Viola with this fundraise, alongside SGG. It’s exciting to see Luxembourg funds investing in fintech and building an eco-system that is full of innovative financial products and services.“
Justin Partington, SGG Group Fund Solutions Leader, commented: "We are delighted to have supported Viola Investment Group for the launch of this new fintech fund. The fact that the fund had such high commitments is a clear testament to Viola’s investment and management capabilities."
SGG Group is a leading investor services firm providing a comprehensive range of compliance, administration and asset services to alternative investment funds, international companies, HNW families and entrepreneurs.
From our early beginnings in the private clients space, we have evolved and grown, and this has shaped the way we do business. SGG is among the most flexible providers in the sector and our entrepreneurial spirit drives us to find the best solutions for our clients. SGG has over 250 bn of Assets under Administration and operates in over 23 jurisdictions.
We help our clients realise their ambitions as they seek to keep pace with a changing environment. SGG attracts and retains the most experienced experts and invests in the industry’s leading software platforms to deliver the highest quality service to our clients.