Michael McFadgen has departed from his managing director role at Nex Opportunities, a corporate venturing vehicle for brokerage group Nex, to join UK-based investment firm Element Ventures as a partner.
McFadgen joined Nex Opportunities’ predecessor, Euclid Opportunities, in 2016 from Barclays Capital, the investment banking arm of financial services firm Barclays, where he had been director of strategic investments for six years.
Euclid Opportunities changed its name when its parent company, electronic trading platform operator Nex Group, was acquired by exchange operator Chicago Mercantile Exchange (CME) Group in early 2018.
Nex Opportunities focuses on developers of innovative financial technology. Its investments during McFadgen’s time at the unit included fintech providers OpenFin, Axoni and Duco.
Founded in 2019, Element Ventures will invest in enterprise financial technology developers. McFadgen will team up with fellow partner Steve Gibson, who had been CEO of Nex Opportunities for nearly a decade from late 2010.
News of McFadgen’s move came as Financial Times reported Element Ventures is raising a £100m ($130m) vehicle anchored by former CME chief executive Michael Spencer, who will provide at least £25m through his IPGL fund.
Photo of Michael McFadgen courtesy of LinkedIn.
