The fund received support from both new and existing EJF investors and provides strategic guidance and capital to entrepreneurial startups focused on solutions across real-time payments, data analytics and harmonization, risk management, customer acquisition, and other functions within financial institutions. The vehicle has global remit, with international efforts led by London-based EJF Ventures Partner Michael Cherepnin.
Since its inception in January 2022, the fund has invested in twelve early-stage companies in the US, UK, and Israel operating across financial services sub-sectors including payments infrastructure, enterprise risk management, capital markets access, small business lending, and consumer financial services.
Commenting on the announcement, Neal J. Wilson, CEO, said: “The mission of EJF Ventures is to back leading entrepreneurs reshaping and modernizing the existing financial system and global commerce. Leveraging the significant expertise and global relationships of EJF Capital’s asset management platform to bolster the Fund’s proprietary investment sourcing and execution capabilities, we believe there is an attractive cyclical opportunity through the Fund to invest in building the financial services infrastructure of the future. We are grateful to our investors for their support as we seek to provide a differentiated venture capital experience to entrepreneurial companies operating at the forefront of the digital finance ecosystem.”
Founded in 2005 by Manny Friedman and Neal Wilson, EJF Capital is a global alternative asset management firm, which, as of June 30, 2023, manages approximately $6.6 Billion across a diverse group of alternative asset strategies.
The firm also has offices in London, England and Shanghai, China.