The EJF Silvergate Ventures Fund is focused on early-stage fintech companies in digital currency, payments, banking and specialty finance sectors
Silvergate Capital Corporation, the leading provider of innovative financial infrastructure solutions to the digital currency industry, and EJF Capital LLC, a global institutional alternative asset management firm, announced the launch of the EJF Silvergate Ventures Fund (the “Fund”), a joint investment vehicle focused on early-stage fintech companies, digital currencies and payments, as well as banking and specialty finance technology.
“At Silvergate, we’ve had the privilege to serve entrepreneurs in niche industries for over 20 years, which ultimately led us to bank digital currency industry pioneers. We believe in entrepreneurs and their power to help the digital currency industry reach its full potential.”
The EJF Silvergate Ventures Fund will seek to invest in early-stage operating companies, which are developing technologies that are poised for broad adoption in finance, such as real-time payments, digital assets, banking-as-a-service, regtech, and AI-based credit decisioning. The Fund will leverage Silvergate’s expertise and success in the digital currency industry and EJF’s seasoned, global financial services and fintech investment team, relationships and expertise across the banking, regulatory and financial services sector to deliver credible, strategic guidance and capital to early-stage start-ups.
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“We’re thrilled to participate in this joint venture with EJF. Their investment strategy and financial services industry expertise align with our mission to create a financial system that is safe, fair and rewarding for everyone,” said Alan Lane, Silvergate CEO. “At Silvergate, we’ve had the privilege to serve entrepreneurs in niche industries for over 20 years, which ultimately led us to bank digital currency industry pioneers. We believe in entrepreneurs and their power to help the digital currency industry reach its full potential.”
“Silvergate and EJF recognize the urgent need for capital to support entrepreneurs who will modernize the existing financial system and reshape global commerce,” said EJF co-Founder and co-Chief Executive Officer, Neal Wilson. “Through the EJF Silvergate Ventures Fund, we can provide a truly dynamic venture capital experience rooted in collaboration, passion and a strong belief in the entrepreneurial spirit.”
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“The financial industry is undergoing a transformation facilitated by the growth of digital currency and the adoption of blockchain enabled technologies,” said Jonathan Bresler, Partner and Managing Director at EJF Capital. “As this ecosystem rapidly evolves into a subset of financial services with operational utility, significant investments will be required to build the infrastructure necessary to bridge the gap between the legacy financial system and the financial system of the future. We are delighted to partner with Silvergate and believe that their digital currency and regulatory expertise will be highly complementary to our investment process.”
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