Mendoza Ventures, a female and Latinx-founded Fintech, AI, and Cybersecurity Venture Capital firm, today announced that Truist Ventures is investing in its Early Growth Fintech Fund as a limited partner.
In brief:
-The fund is targeting $100mn and will invest in early growth-stage startups with a focus on diverse teams.
-Mendoza Ventures announced its third fund in January. With this investment, Truist became the third financial institution invested in Mendoza Ventures, joining Bank of America and Grasshopper Bank.
-This investment lays a foundation for a partnership and active collaboration between Truist Ventures and Mendoza Ventures
What does this mean?
Adrian Mendoza, General Partner at Mendoza Ventures, stated, “Our vision has always been to redefine how venture funds collaborate with financial institutions to support portfolio companies strategically. Truist Ventures’ support validates our approach and empowers us to create substantial outcomes for diverse-led startups and investors alike.”
