£10 million fund Calida Tech Fund for FinTech firms
April 8th, 2017 / Innovate Finance / Featured Insights
April 10th: Innovate Finance member Xcordis today announced at the global summit a new tech investment fund, Calida Tech (CT) will be launching on May 21st 2017. Valued at £10million, applications are now being accepted via the CalidaTech.com website.
The CT fund will create corporate strength technology for companies who need a high quality solution built from scratch or who want to enhance their existing systems, in return for minority equity.
Investees benefit from a reduced cash requirement and from rapid go to market capability. In addition to the tech investment CT will offer technology mentoring, access to CT partners for additional facilities, including Xcordis automated payment systems and advice on go to market strategy and implementation.
CT will also offer to be the entire IT department for some investees, advising on security, resilience, scaling, customer support and more, overcoming one of the biggest issues for small companies of competing for tech talent in a market that has over 400,000 vacancies in FinTech alone.
One partner is Virtusa Polaris, a large Systems Integrator spun out from Citibank, who offer a solution to deal with the procurement difficulties of large corporations, especially banks, and potential access to their significant client base in the banking sector. Partners include IBM, Innovate Finance, Virtusa Polaris (spun out from Citibank), incisive EDGE (tech marketing), Xcordis FinTech (automated payment solutions), Apexx Fintech (Payments Optimisation and Cost Reduction), TugBoatAdvisory (startup Management Advisors)