Alternative asset management firm Castle Creek Capital LLC and early-stage venture capital firm Launchpad Capital closed a financial technology venture capital fund with more than $90 million in commitments.
Castle Creek Launchpad Fund I secured commitments from 34 community banks across 18 states and other banking executives and professionals. It will invest in early-stage technology startups and mobile-first Web3 technologies, according to a news release.
The fund will be managed by Ryan Gilbert, founder of Launchpad Capital, and Jurgen van de Vyver, a Launchpad Capital partner. Castle Creek Capital managing principals Tony Scavuzzo and David Volk will join the investment committee. The fund's team will include Katherine Kane as director of research and content creation.