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Middlegame Ventures

Venture capitaloperating company · company profile

Luxembourg · Seed–Series A · 15 people tracked

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Investment thesis

MiddleGame Ventures specializes in European fintech, investing in and partnering with entrepreneurs building the future of digital financial services. The firm positions itself as European fintech specialists with global connectivity, drawing on a team of investors, operators, and former regulators. Its focus is on companies leading the global economy toward a fully digital financial services future.

Source: firm website, verified Aug 3, 2026.

Stage
Seed–Series A
HQ
Luxembourg, LU
Leads rounds
Follows
Instruments
Equity
Founded
2018
AUM
$486M
Tracked investments
29
Unicorns
3

Team · 15 people

from the firm's website & curated & public directories
Kanishk Walia· Partnerin
Ellen McCance· Venture Partner
Gary McGann· Venture Partner
Loïc Bertoli· Head of Investor Relations
L. Michael Meyer· Director
Mia Lewis· Investment Manager

Founder mafia

3 people who came through Middlegame Ventures went on to found or lead other companies.

What they invest in

from 25 of 29 portfolio companies

Fintech ×22SaaS ×15Enterprise Software ×12AI & Machine Learning ×11Crypto & Web3 ×6Data & Infrastructure ×5Cleantech ×2Cloud Computing ×2

HQs:United States×5Ireland×4United Kingdom×3Belgium×2Austria×1France×1

Investments · 29 tracked

founders shown can be your intro path

By year:2025 · 22023 · 32022 · 42021 · 32020 · 113 dated

Blockpitblockpit.io𝕏Jul 2021

Blockpit is a crypto tax calculator that lets users connect wallets, exchanges, and protocols to import transactions and automatically calculate gains and losses according to official tax rules.

Crypto & Web3FintechSaaSLinz, AT

Vladimir Tosovic(Founder)inFlorian Wimmer(CEO & Co-Founder)Gerd Karlhuber(CFO, COO & Co-Founder)Magnus Berchtold(CPO & Co-Founder)Tom Buchsteiner(CTO & Co-Founder)

Co-investorsCoinIx CapitalEuropean Super Angels ClubFabric VenturesTioga Capital Partners6 Degrees CapitalElevator Ventures+2 more

Capdeskcapdesk.com𝕏Mar 2021

Carta (at capdesk.com) offers a platform for managing private capital, giving fund managers real-time visibility and control over data and workflows across individual investments and entire fund structures.

AI & Machine LearningFintechSaaS

Christian Gabriel(Founder)in

Co-investors1818 Venture CapitalFidelity International Strategic VenturesFuel Ventures

Cartacarta.comin𝕏

Carta is a cloud-based ERP platform for private capital markets that manages cap tables, equity administration, fund management, and valuations for startups, private companies, and venture funds globally.

Enterprise SoftwareFintechSaaSSan Francisco, US

Henry Ward(Founder)inManu Kumar(Founder)inCharly Kevers(Chief Financial Officer)inJeff Perry(Chief Revenue Officer)inNick Avery(Chief People Officer)inNicole Baer(Chief Marketing Officer)in

Co-investors4DX VenturesA*Adventure FundAlign VenturesAlumni VenturesAmity Ventures+76 more

Cloud Capitalcloudcapital.coinApr 2025 · $7.7M

Cloud Capital provides AI-powered cloud cost forecasting and allocation software that maps infrastructure spending to business drivers and cost layers defined by the customer.

AI & Machine LearningCloud ComputingEnterprise SoftwareFintechSaaS

Ed Barrow(Co-Founder & CEO)inSpencer Pingry(Co-Founder & CTO)inZack Liscio(Co-Founder & CPO)in

Co-investorsBackedConnect VenturesConnect VenturesDFF VenturesRedbus VenturesMMC Ventures+1 more

Ctrlctrl.energyin𝕏Oct 2023

CTRL Energy develops modular smart battery systems for energy storage and distributed grid infrastructure.

CleantechEnergyHardwareParis, FR

Adlane Denni(Founder)inRaouf REMIDAN(Founder)in

Co-investorsFounders Factory365.fintechEnterprise Ireland

Ctrl Altctrl-alt.coinOct 2023 · $2.7M

Ctrl Alt provides tokenization infrastructure that gives asset managers and institutions access to tokenized alternative investments across private markets, real estate, private credit, infrastructure, and renewable energy.

Crypto & Web3Enterprise SoftwareFintechPropTechLondon, GB

Matt Ong(Founder & Chief Executive Officer)in

Co-investorsMolten Ventures365.fintechEnterprise Irelandunbundled vc

Drivewealthdrivewealth.comin𝕏

DriveWealth offers an API-based Brokerage-as-a-Service platform that lets banks, broker-dealers, asset managers, digital wallet providers, and consumer brands embed securities trading and investing for their end clients.

Developer ToolsEnterprise SoftwareFintechSaaSJersey City, US

Robert Cortright(Executive Officer, Director)inMichael Dugan(Executive Officer, Director)inRobert S. Cortright(Founder)

Co-investorsAccelFenway Summer VenturesMouro CapitalPoint72 VenturesRaptor GroupRoute 66 Ventures+6 more

Ellipticelliptic.coin𝕏

Elliptic provides blockchain forensics and compliance investigation tools that help financial institutions trace cryptocurrency transactions across multiple networks and assets to detect illicit activity and generate regulatory reports.

Crypto & Web3Enterprise SoftwareFintechLondon

James Smith(Founder)inAdam Joyce(Founder)inTom Robinson(Founder)inSimone Mainiin

BoardEyal Rabinovich(Director)inWalter Kortschak(Director)in

Co-investors1k(x)AlbionVCDigital Currency GroupEvolution Equity PartnersMouro CapitalOctopus Ventures+13 more

fundcraftfundcraft.lu

Digital platform (founded 2021) that centralizes and automates the fund administration lifecycle.

Julien De Mayer(Founder)in

Co-investors3VCRiverside Acceleration Capital

Gardeniagardeniatech.comin𝕏

Gardenia Technologies is an enterprise data analytics company that applies AI and advanced analytics to ESG and sustainability reporting, working capital management, and finance programmes.

AI & Machine LearningData & InfrastructureEnterprise Software

Co-investorsHarvard Business Angels of Chicago

Inferexinferex.comin

Inferex provides a platform for deploying machine learning models at scale, integrating them into applications, and running AI workflows for developers building AI applications.

AI & Machine LearningCloud ComputingDeveloper Tools

Co-investorsEnterprise IrelandFrontline Ventures

Kaynakayna.ioinSep 2023 · $1.7M

Data-led insurance solutions that enable SaaS platforms to provide business customers with contextual insurance offerings.

Paul Prendergast(Founder)Peter Bermingham(Founder)

Co-investorsDelta PartnersLeo Capital VenturesEnterprise IrelandFounders FactoryInsurTechLeo Capital

Keyrockkeyrock.comNov 2022 · $72M

Brussels-founded digital asset investment group providing market making, OTC, options trading and asset management.

Brussels, BE

Kevin de Patoul(Co-founder and Chief Executive Officer)inJeremy de Groodt(Co-founder and Chief Technical Officer)inJuan David Mendieta(Co-founder and Chief Strategy Officer)in

Co-investorsSC VenturesVolta VenturesRipple

Keyrockkeyrock.euin𝕏Nov 2022 · $72M

Keyrock provides digital asset market services including market making, options, OTC, DEX liquidity, and quant-led asset management for institutions and crypto projects.

Crypto & Web3Fintech

Co-investorsSeeder FundRippleSC Ventures

Konsentuskonsentus.comin𝕏

Konsentus builds SaaS technology and advisory services for open banking and open finance ecosystems, helping regulators, central banks, and financial institutions securely verify participants and manage trust frameworks in regulated environments.

Data & InfrastructureEnterprise SoftwareFintechSaaSUK, GB

Mike Woods(Founder)in

Co-investorsPassion Capital

Lukka / Coinfirmlukka.techin𝕏

Lukka provides institutional-grade data management software for cryptocurrency middle and back-office operations, serving financial institutions and enterprises that custody or manage digital assets.

AI & Machine LearningCrypto & Web3Data & InfrastructureEnterprise SoftwareFintechSaaS

Co-investorsNOW JapanRaptor Group

Minna Technologiesminnatechnologies.com

Minna Technologies provides a subscription management platform embedded in digital banking channels that helps banks and merchants reduce chargebacks, improve customer retention, and enhance the subscription experience.

B2B MarketplacesEnterprise SoftwareFintechSaaS

Joakim Sjöblom(Founder)

Co-investors13books CapitalElement Ventures

Musicinframusicinfra.comSep 2025

MusicInfra is a music rights management company connecting digital services and rightsholders for licensing, matching and royalty payment.

Co-investorsSNÖ VenturesUTA Ventures

NoFrixionnofrixion.comin

NoFrixion is a regulated electronic money platform that provides payments and treasury management services to organisations seeking direct control over their banking operations.

FintechSaaSDublin, IE

Feargal Brady(Founder)inAaron Clauson Feargal Brady(Founder)

Co-investorsDelta PartnersFurthr VC

Outminoutmin.ioinOct 2022

Outmin builds autonomous bookkeeping infrastructure that automates bookkeeping work for accounting practices and business owners, allowing firms to scale without hiring additional bookkeepers.

AI & Machine LearningFintechSaaSDublin, IE

Ross Hunt(Founder)inDavid Kelleher

Co-investorsBusiness Venture PartnersFuel VenturesEnterprise IrelandPraetura Ventures

Payslippayslip.comin𝕏May 2021

Payslip provides automated global payroll solutions for multinational enterprises, combining payroll automation, integration, and AI-driven controls to replace legacy processes with standardized workflows.

AI & Machine LearningEnterprise SoftwareFintechHR TechSaaSWestport, IE

Fidelma McGuirk(Founder)in

Co-investorsFrontline VenturesMouro CapitalSalica InvestmentsTribal.vc

Personeticspersonetics.comin𝕏

Personetics provides AI-driven analytics and personalization technology for banks and financial institutions, generating predictive insights and financial guidance delivered to bank customers.

AI & Machine LearningFintechSaaS

Co-investorsLightspeed Venture PartnersMouro CapitalNycaNyca PartnersViola VenturesWarburg Pincus+2 more

Railsbankrailsbank.comNov 2020 · $37M

Equals is a spend management and payments platform that lets businesses issue virtual and physical USD expense cards, set spending limits, manage USD business accounts, and make domestic ACH and wire payments from one dashboard.

Enterprise SoftwareFintechSaaS

Co-investorsFirestartrGlobal BrainAnthos CapitalMoneta VCOutrun VenturesVentura Capital

Railsrrailsr.com𝕏

Railsr provides embedded finance infrastructure that lets businesses integrate banking, cards, and payment services into their own products.

Data & InfrastructureFintechSaaS

Co-investorsCohen CircleFuturecraft VenturesMoneta VCSalica InvestmentsVentura CapitalAnthos Capital+4 more

Ripple Labsripple.comin𝕏

Ripple builds blockchain-based financial infrastructure to enable cross-border value transfer and payment solutions for enterprises, governments, and financial institutions.

Crypto & Web3Enterprise SoftwareFintechSan Francisco, US

Ryan Fugger(Founder)Christian Larsen(Executive Officer, Director, Promoter)David Schwartz(Founder)inBradley Garlinghouse(Executive Officer)Arthur Britto(Founder)Brad Garlinghous(Founder)

Co-investors500 GlobalAbstract VenturesAurum Venture PartnersAvant Global LLCCamp One VenturesCastle Island Ventures+22 more

Socuresocure.comin𝕏

Socure provides an AI-driven platform for digital identity verification, fraud prevention, and risk decisioning, serving enterprises and government agencies across financial services, gaming, healthcare, e-commerce, and other sectors.

AI & Machine LearningCybersecurityFintechNew York, US

Johnny Ayers(Founder)in

BoardJohn F. Frankel(Director)inSunil Madhu(Founder)inAlessandro Piol(Director)Pavlo Protopapa(Director)Philip Eytan(Director)

Co-investorsAccelAlpha PartnersAltaIR CapitalAmity VenturesBain Capital VenturesCommerce Ventures+23 more

Tandemtandem.co.ukin𝕏

Tandem is a UK-regulated bank offering app-based savings products, including Cash ISAs and savings accounts, whose deposits fund greener lending such as home energy-efficiency upgrades, solar panels, and low-emission vehicles.

CleantechClimate TechFintech

Tobias Dickmeis(Co-founder)in

Co-investorsDigital Space VenturesAccelGeneral Catalyst

Theia Insightstheiainsights.comin

Theia builds a common ontology for financial markets, mapping thematic exposures across companies and funds so users can screen stocks and funds, create thematic indices and ETFs, and analyze portfolio risk.

AI & Machine LearningData & InfrastructureFintechSaaSBethesda, US

Ye Tian(Founder)inIsami Ito(Founder)inJames Thorne(Founder)in

Co-investorsClocktower VenturesUnusual VenturesFurther Ventures

UrbanFoxurbanfox.ioin𝕏Nov 2022

UrbanFox is an AI-powered fraud detection platform that uses generative AI and behavioral intelligence to detect online payment fraud, bot traffic, and account takeover attempts without relying on static rules.

AI & Machine LearningCybersecurityFintechDublin, IE

Co-investorsAct Venture CapitalACT Venture CapitalFurthr VCJetBlue VenturesSKY VCTechstars+2 more

Portfolio news

latest coverage across their companies

Frequently asked questions

How many investments has Middlegame Ventures made?
Middlegame Ventures has 29 tracked investments, including 2 dated in the last 24 months.
What stage does Middlegame Ventures invest at?
Middlegame Ventures invests at the Seed, Series A stages.
What sectors does Middlegame Ventures focus on?
Middlegame Ventures focuses on AI & Machine Learning, Crypto & Web3, Fintech.
Where is Middlegame Ventures located?
Middlegame Ventures is headquartered in Luxembourg, LU.
Does Middlegame Ventures lead rounds?
Middlegame Ventures typically participates in rounds rather than leading them.
Who does Middlegame Ventures co-invest with?
Middlegame Ventures most often shares deals with Mouro Capital, Accel, Firebolt Ventures Management Company, Llc, among 72 tracked co-investors.

Media · Podcasts & interviews

featuring the team

The Luxembourg PE&VC Stories Part II with Pascal Bouvier (MiddleGame Ventures)

LPEA Luxembourg · Pascal Bouvier

Images

Middlegame Ventures photo

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