Anticipating the heightened risk, Mendoza Ventures, a Boston-based fintech investor, is looking for opportunities that intersect AI and cybersecurity and lead to collaboration with banks.
Mendoza Ventures just added Truist Ventures (Truist Bank’s VC unit) as an investor in MendozaVentures’ Early Growth Fintech fund as a limited partner. The $100 million fund will invest in early growth-stage startups, focusing on firms with diverse management teams. Truist joins Bank of America and Grasshopper Bank in investing with Mendoza Ventures.
The investments are part of an increase in collaboration between the banks and portfolio companies, Mendoza said. “Our theory has always been that LPs [limited partners] become participants. We don’t passive LPs, especially now when it’s harder to raise funds.”
