BOSTON, Nov. 8, 2023 /PRNewswire/ -- 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. The fund is
targeting $100M and will invest in
early growth-stage startups with a focus on diverse teams.
Mendoza Ventures supports innovative,
early-stage companies that are shaping the future of finance
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.
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."
This investment lays a foundation for a partnership and active
collaboration between Truist Ventures and Mendoza Ventures and its
portfolio companies that embraces external innovation promotes
knowledge exchange and helps empower positive social change.
"Mendoza Ventures supports innovative, early-stage companies
that are shaping the future of finance," said Tarun Mehta, Head of Corporate Development and
Truist Ventures. "This partnership fuels our shared ambition to
drive advancements and increase inclusion in the broader fintech
industry."
Mendoza Ventures recently launched a new non-profit initiative
called Mendoza Impact, which aims to provide early-stage diverse
founders with greater access to capital and educational resources.
By addressing gaps in funding and knowledge, Mendoza Impact seeks
to empower a new generation of diverse entrepreneurs.
About Mendoza Ventures
Mendoza Ventures is a fintech,
AI, and cybersecurity venture fund based in Boston and San
Francisco. The firm is run by husband and wife Adrian and
Senofer Mendoza, prior entrepreneurs and veterans of the startup
ecosystem. The firm focuses on diversity playing an important role
in its investment decisions. Started in 2016 with the launch of its
pilot fund, the firm launched its Fund II in 2019. Mendoza Ventures
is the first LatinX-owned venture fund on the East Coast. Learn
more at www.mendozaventures.com
About Truist Ventures
Truist Ventures is the corporate
venture capital arm of Truist Financial Corporation (NYSE: TFC).
Truist Ventures delivers touch and technology to Truist clients
through partnerships with and investments in innovative companies
and exceptional management teams with novel solutions to help
Truist shape the future of finance. Truist Ventures' investment
focus includes financial technology, payments and money movement,
and regtech and stretches into other adjacent, disruptive
technologies. Learn more at TruistVentures.com.
Contact
Senofer Mendoza; senofer@mendoza-ventures.com; 617-505-6070
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SOURCE Mendoza Ventures