Truist Ventures Invests in Mendoza Ventures' Early Growth Fintech Fund

Published 6 months ago

Truist Ventures is set to become a limited partner in Mendoza Ventures’ Early Growth Fintech Fund. This fund is targeting $100M and aims to invest in early growth-stage startups, particularly those with diverse teams.

Mendoza Ventures’ Third Fund

This year, Mendoza Ventures, a female and Latinx-founded venture capital firm specializing in Fintech, AI, and Cybersecurity, announced their third fund. Truist Ventures now joins Bank of America and Grasshopper Bank as the third financial institution to invest in Mendoza Ventures.

Adrian Mendoza, General Partner at Mendoza Ventures, expressed that their vision is to redefine how venture funds collaborate with financial institutions to strategically support portfolio companies. He acknowledged that Truist Ventures’ support validates their approach, while empowering them to create substantial outcomes for diverse-led startups and investors.

A Partnership for Social Change

This investment is more than just a financial commitment. It lays a foundation for an active partnership and collaboration between Truist Ventures and Mendoza Ventures. The partnership will focus on embracing external innovation, promoting knowledge exchange, and facilitating positive social change.

According to Tarun Mehta, Head of Corporate Development and Truist Ventures, Mendoza Ventures’ support for innovative, early-stage companies is shaping the future of finance. He believes this partnership will fuel their shared ambition to drive advancements and increase inclusion in the broader fintech industry.

Mendoza Impact: Supporting Diverse Entrepreneurs

In line with its commitment to supporting diverse entrepreneurs, Mendoza Ventures recently launched a non-profit initiative called Mendoza Impact. This initiative 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.