NEXT Investors, the growth investor of Credit Suisse Asset Management, has held the $261m final close of its second fund.
The sophomore fund, NEXT Investors II, will invest into growth-oriented technology and financial services businesses.
Contributions to the fund came from a range of backers including financial institutions, ‘ultra-high net worth’ individuals, fund of funds, and family offices, based across the Americas, Europe and Asia Pacific.
Next Investors makes minority equity investments into private technology companies operating across sectors including, FinTech, data analytics, specialty finance, market structure and enterprise software. To date, the company has deployed $498m across 71 investments.
NEXT Investors co-head and portfolio manager Alan Freudenstein said, “The team at NEXT Investors has been investing together for over 18 years, and by leveraging Credit Suisse’s broad banking and technology platform, we are uniquely positioned to source and evaluate investment opportunities in financial services technology and to create value for our portfolio companies.”
The firm is able to leverage Credit Suisse’s network to provide portfolio companies with exposure to global sourcing channels, differentiated diligence resources and insights into a Fortune 500 IT customer, and access to Credit Suisse’s clients and partners.
NEXT Investors portfolio is full of a number of FinTech startups. The firm has previously invested into RegTech 100 company Digital Reasoning, which uses AI to understand human intentions and behaviours.
Some of the other FinTechs currently held by the company include front-to-back office automation solution Lux Reasoning, online lending platform SoFi, and personal finance app Prosper.
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