Silvergate, EJF Capital form fintech-focused fund

Silvergate Capital in La Jolla, Calif., and EJF Capital in Arlington, Va., have launched a joint investment vehicle that will focus on early stage fintechs. 

The $12.8 billion-asset Silvergate said in a press release Thursday that the EJF Silvergate Ventures Fund will also invest in digital currencies, payments and banking and specialty finance technology.

The companies did not disclose the financial aspects of the partnership.

EJF’s “investment strategy and financial services industry expertise align with our mission to create a financial system that is safe, fair and rewarding for everyone,” Alan Lane, Silvergate’s CEO, said in the release. 

“At Silvergate, we’ve had the privilege to serve entrepreneurs in niche industries for over 20 years, which ultimately led us to bank digital currency industry pioneers,” Lane added. “We believe in entrepreneurs and their power to help the digital currency industry reach its full potential.”