Credit Suisse’s fintech investment unit closes $261M fund

NEXT Investors, the fintech investment unit of Credit Suisse Asset Management, has closed its second fund with approximately USD 261 million of capital commitments.

The fund, NEXT Investors II L.P., has a diverse group of investors from across the Americas, Europe, and Asia Pacific. It will invest in growth-oriented technology and financial services businesses.

"We are pleased to have the ongoing support of our expanding Limited Partner base, helping us exceed our fundraising target for the Fund, which is a testament to our investment strategy and approach,” Greg Grimaldi, Co-Head and Portfolio Manager of NEXT Investors at Credit Suisse Asset Management, said.

NEXT Investors identifies minority growth equity investment opportunities in private technology and services companies globally. Its portfolio comprises high-growth private businesses that interact with the financial services industry across sectors including Market Structure, Financial Technology, Enterprise Software, Data Analytics and Specialty Finance. It has deployed USD 498 million in capital across 71 investments, according to the official release.

"The team at NEXT Investors has been investing together for over 18 years, and 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,” Alan Freudenstein, Co-Head and Portfolio Manager of NEXT Investors at Credit Suisse Asset Management, said.