- The fund’s backers include 34 community banks across 18 states, as well as other banking executives and professionals
- The fund will be managed by Launchpad Capital founder Ryan Gilbert and partner Jurgen van de Vyver
- The firms decided to collaborate on this new fund last summer when Gilbert joined Castle Creek’s advisory board
Castle Creek Capital and Launchpad Capital have closed their maiden joint venture fund at over $90 million.
Castle Creek Launchpad Fund I will invest in early-stage technology startups and help create the future of financial services with regulated depository institutions.
The fund’s backers include 34 community banks across 18 states, as well as other banking executives and professionals.
The fund will be managed by Launchpad Capital founder Ryan Gilbert and partner Jurgen van de Vyver, with Castle Creek Capital managing principals Tony Scavuzzo and David Volk joining the investment committee.
“We’re backing entrepreneurs who are rethinking and rebuilding financial services for a mobile-first Web3 future enabled by regulated institutions,” said Launchpad Gilbert, in a statement.
The firms decided to collaborate on this new fund last summer when Gilbert joined Castle Creek’s advisory board.
The fund’s team will include Katherine Kane, the newly appointed director of research and content creation.
Based in San Diego, California and Dallas, Castle Creek has invested in community banking since its inception in 1990.
Based in Oakland, California, Launchpad Capital is an early-stage venture capital firm investing in the future of finance.
