Switzerland-based financial services firm Credit Suisse’s financial technology and data investment arm, Next Investors, closed its latest fund, Next Investors II, at $261m yesterday.
Next Investors II, which is overseen by the bank’s Credit Suisse Asset Management subsidiary, raised capital from unnamed financial services firms, funds of funds, family offices and ultra-high-net-worth individuals in North and South America, Europe and the Asia Pacific region.
The fund will invest in growth-stage technology and financial services technology developers, focusing on companies where its management team can offer its expertise. A regulatory filing indicates that Next Investors had originally targeted a $300m close.
The unit has invested a total of $498m to date, it said, and its 71-strong portfolio currently spans areas such as enterprise software, fintech, specialty finance, market structure and big data analytics.
Companies to have received funding from Next Investors include big data technology providers Palantir and Dataminr, online lending platforms SoFi and Prosper, business management software producer Domo and data management software developer Delphix.
Alan Freudenstein, co-head and portfolio manager of Next Investors said: “The team at Next Investors has been investing together for over 18 years.
“By leveraging Credit Suisse’s broad banking and technology platform, we are uniquely positioned to source and evaluate investment opportunities in financial services technology and to create value for our portfolio companies.”