US-based financial services provider Corporate Central Credit Union (CCCU) has set up a corporate venture capital fund.
Gregg Tushaus, CCCU’s chief technology and strategy officer and president of Emergifi, its credit union technology platform, will run the new unit, dubbed Emerging Ventures.
Tushaus said in a statement: “Emerging Ventures is targeting investments of $100,000 to $400,000 in seed, series A or series B rounds of companies that align with our strategies.
“We are seeking a return on our investment appropriate for the risk, yet we are seeking strategic investments for the benefit of our members, not just financial investments.”
The investments are expected to be in financial wellness and value-added services through technology and businesses that enhance the credit union and financial services ecosystem through connectivity and integration.
Photo courtesy of Gregg Tushaus.
