DES MOINES, Iowa—Curql Collective, a CUSO organized to spur innovation and invest in fintech for credit unions, has announced its Curql Fund I officially closed to investors at just over $250 million on Oct. 31.
“The fund is designed to invest in technologies that enhance how credit unions engage with their members and how members engage with their money,” Curql Collective stated.
To date, 69 limited partners have committed capital to Curql Fund I, which has invested in nine fintech CUSO’s during the initial six months.
“Curql Fund I was originally planned to close at $150 million, but due to overwhelming response from interested credit unions and CUSO’s, the fund’s limited partners and management team raised the fund’s cap to just over $250 million to allow additional participation,” the CUSO said.
‘Clearly Ready for This’
“The credit union industry was clearly ready for this type of opportunity,” said Nick Evens, president and CEO of Curql Collective. “With so many credit unions clamoring to invest in the fund right up to the end, we simply had to increase the size of the fund. It’s very telling of the appetite the credit union industry has for financial technology that can activate real change in how they interact with their members. At Curql Collective, we’re elated to see this coming together of like-minded credit union and fintech leaders – and we can’t wait to watch what happens for the industry.”