Mendoza Ventures closes Truist Ventures' investment for its $100m Early Growth Fintech fund
Mendoza Ventures, a Latinx-founded Fintech, AI, and Cybersecurity Venture Capital firm, announced that Truist Ventures is investing in its Early Growth Fintech Fund as a limited partner. The fund is targeting $100 million and will invest in early growth-stage startups with a focus on diverse teams.
Mendoza Ventures announced its third fund in January. With this investment, Truist became the third financial institution invested in Mendoza Ventures, joining Bank of America and Grasshopper Bank.
Adrian Mendoza, General Partner, Mendoza Ventures: "Our vision has always been to redefine how venture funds collaborate with financial institutions to support portfolio companies strategically. Truist Ventures' support validates our approach and empowers us to create substantial outcomes for diverse-led startups and investors alike."
This investment lays a foundation for a partnership and active collaboration between Truist Ventures and Mendoza Ventures and its portfolio companies that embraces external innovation promotes knowledge exchange and helps empower positive social change.
Tarun Mehta, Head of Corporate Development, Truist Ventures: "Mendoza Ventures supports innovative, early-stage companies that are shaping the future of finance. This partnership fuels our shared ambition to drive advancements and increase inclusion in the broader fintech industry."
Mendoza Ventures recently launched a new non-profit initiative called Mendoza Impact, which aims to provide early-stage diverse founders with greater access to capital and educational resources. By addressing gaps in funding and knowledge, Mendoza Impact seeks to empower a new generation of diverse entrepreneurs.
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