BHB Fund Announces First Close, Beginning of Capital Deployment
FOR IMMEDIATE RELEASE
AUSTIN, TX - February 17, 2023 - The Bankers Helping Bankers Fund (BHB Fund), a community bank-focused fintech venture capital fund managed by Latitude38 Venture Partners today has completed its first close with funding commitments from a number of leading community banks including Woodforest Bank (The Woodlands, TX), Origin Bank (Ruston, LA), Texas First Bank (Texas City, TX), Dream First Bank (Syracuse, KS) National Bank and Trust (La Grange, TX), Legend Bank (Bowie, TX), Fannin Bank (Bonham, TX), First State Bank of Louise (Louise, TX), as well as strategic partners IBAT Services, Inc., a subsidiary of the Independent Bankers Association of Texas (IBAT) and FedFis.
Latitude38 Venture Partners was launched in 2022 by General Partners Neeraj Vohra and Richard Leggett who bring extensive investing and operating experience. Camden Fine, former President and CEO of the Independent Community Bankers of America (ICBA), serves as a Venture Partner at the BHB Fund along with Christopher Williston, CEO of IBAT, and Dave and Tanner Mayo, CEO and President of FedFis.
The BHB Fund is affiliated with Bankers Helping Bankers, launched in 2021 as a collaboration between FedFis and the Independent Bankers Association of Texas (IBAT). The BHB Fund is a fintech focused venture capital fund “for banks, by banks” that was created to provide community banks with a dual set of benefits: (i) exposure to a diversified portfolio of FinTech investments that improve the competitiveness and efficiency of banks; and, (ii) the potential to earn outsized venture capital returns that are uncorrelated to traditional bank operations.
With the first close, the BHB Fund will initiate investments in early-stage companies that solve “here and now” opportunity and challenges facing community banks. The BHB Fund will continue to have rolling fund raising closes throughout the first half of 2023.
About Bankers Helping Bankers
Bankers Helping Bankers (BHB) is a bankers-only social platform for collaboration and education. Through data tools and dynamic user groups, BHB provides community bankers with a knowledge base focused on bank technology and emerging Fintech companies, as well as hot topics such as cryptocurrencies, banking-as-a-service, becoming a sponsor bank, and launching a direct digital brand. The BHB ecosystem includes access to capital, executive support with access to experts, a roadmap to navigate financial technology integrations, a direct connection to Fintech sponsor banks and a marketplace of community bank customers. It is the most complete end-to-end ecosystem for community bank-supportive technology companies. The BHB platform is free for bankers, reaching 75% of U.S. banks. For more information, visit: bankershelpingbankers.com
For information about this press release, please contact Rachel Hernandez at [email protected].
Latitude38 Venture Partners was launched in 2022 by General Partners Neeraj Vohra and Richard Leggett who bring extensive investing and operating experience. Camden Fine, former President and CEO of the Independent Community Bankers of America (ICBA), serves as a Venture Partner at the BHB Fund along with Christopher Williston, CEO of IBAT, and Dave and Tanner Mayo, CEO and President of FedFis.
The BHB Fund is affiliated with Bankers Helping Bankers, launched in 2021 as a collaboration between FedFis and the Independent Bankers Association of Texas (IBAT). The BHB Fund is a fintech focused venture capital fund “for banks, by banks” that was created to provide community banks with a dual set of benefits: (i) exposure to a diversified portfolio of FinTech investments that improve the competitiveness and efficiency of banks; and, (ii) the potential to earn outsized venture capital returns that are uncorrelated to traditional bank operations.
With the first close, the BHB Fund will initiate investments in early-stage companies that solve “here and now” opportunity and challenges facing community banks. The BHB Fund will continue to have rolling fund raising closes throughout the first half of 2023.
About Bankers Helping Bankers
Bankers Helping Bankers (BHB) is a bankers-only social platform for collaboration and education. Through data tools and dynamic user groups, BHB provides community bankers with a knowledge base focused on bank technology and emerging Fintech companies, as well as hot topics such as cryptocurrencies, banking-as-a-service, becoming a sponsor bank, and launching a direct digital brand. The BHB ecosystem includes access to capital, executive support with access to experts, a roadmap to navigate financial technology integrations, a direct connection to Fintech sponsor banks and a marketplace of community bank customers. It is the most complete end-to-end ecosystem for community bank-supportive technology companies. The BHB platform is free for bankers, reaching 75% of U.S. banks. For more information, visit: bankershelpingbankers.com
For information about this press release, please contact Rachel Hernandez at [email protected].
Source: FI FinTech Newsroom