# Middlegame Ventures: portfolio, investments and team > Middlegame Ventures is a vc firm based in Luxembourg. 25 investments on record, 9 in the last 12 months, latest Sept 2026. Source: https://millionrounds.com/fund/middlegame-ventures (Millionrounds; every figure on the page links to its filing or article) Luxembourg · [Investor](https://millionrounds.com/investors) # Middlegame Ventures Last cheque observed Sep 2026; 25 cheques on record. Email Deploying now New fund $3.3M, Jan 2020 VC firm Seed Series A Series B Crypto Non-fungible Web 3 Follow Middlegame Ventures and see its new cheques in your feed. [Start following](https://millionrounds.com/login?join=1&why=follow&next=%2Ffund%2Fmiddlegame-ventures) Deploying now **90%** of best year **9** **cheques in 12 months**, 25 on record Since the last cheque **53** days **00** hrs **00** min **00** sec Median round **$8.5M** Rounds led **2 of 25** Sole investor **3 rounds** Mostly in **Ireland, 36%** Pitch Middlegame Ventures ## Middlegame Ventures highlights - 01 9 cheques in the last 12 months - 02 Mostly Venture and Series A: 64% of its rounds - 03 Sole investor in 3 rounds, median $8.0M ## What they do > We invest in and partner with exceptional European entrepreneurs From their own website - **Type:** VC firm (from a list, unverified) - **Cheque size:** Not stated - **Stages:** Seed Series A Series B - **Sectors:** Crypto Non-fungible Web 3 - **Based in:** Luxembourg City, Luxembourg - **Cold pitches:** Accepted ## The record Every round we can evidence, newest first **25 appearances** - **2026** 9 rounds - **Sept** **[fundcraft](https://millionrounds.com/company/fundcraft)** Growth · LU · Middlegame Ventures **$14M** With 4 others - **Sept** **[ZeroRisk](https://millionrounds.com/company/zerorisk)** Series A · IE · Ventureburn **$10M** *Led* - **Sept** **[Wayflyer](https://millionrounds.com/company/wayflyer)** Debt · IE **$50M** With 4 others - **Jun** **[Trustap](https://millionrounds.com/company/trustap)** Venture · IE **$10M** With 2 others - **May** **[Payslip](https://millionrounds.com/company/payslip)** Venture · IE **Undisclosed** With 3 others - **Mar** **[Keyrock](https://millionrounds.com/company/keyrock)** Series C · BE · SC Ventures **Undisclosed** With 4 others - **Mar** **[Theia Insights](https://millionrounds.com/company/theia-insights)** Series A · US · Unusual Ventures **$8.0M** *Led* - **Mar** **[Kayna](https://millionrounds.com/company/kayna)** Seed · IE **$1.7M** With 3 others - **Feb** **[Circit](https://millionrounds.com/company/circit)** Growth · IE **$22M** With 1 other - **2025** 7 rounds - **Oct** **[Paygentic](https://millionrounds.com/company/paygentic)** Pre-seed · US **$2.0M** Sole investor - **Jun** **[Outmin](https://millionrounds.com/company/outmin)** IE · Silicon Canals **$4.5M** With 5 others - **Jun** **[VisionR](https://millionrounds.com/company/visionr)** Seed · IE **$1.7M** With 1 other - **Apr** **[Ctrl Alt](https://millionrounds.com/company/ctrl-alt)** Venture · GB **Undisclosed** With 2 others - **Apr** **[Cloud Capital](https://millionrounds.com/company/cloud-capital)** Seed · US **$5.4M** With 5 others - **Mar** **[Blockpit](https://millionrounds.com/company/blockpit)** Venture · AT **Undisclosed** With 2 others - **Mar** **[UrbanFox](https://millionrounds.com/company/urbanfox)** Venture · IE **$8.0M** With 4 others - **2024** 3 rounds - **Sept** **[One Trading](https://millionrounds.com/company/one-trading)** Venture · IT **Undisclosed** With 3 others - **Jun** **[Linq.gg](https://millionrounds.com/company/linq-gg)** Seed · US **$2.3M** With 1 other - **Jan** **[Finoa](https://millionrounds.com/company/finoa)** Venture · DE **$8.2M** With 2 others - **2023** 1 round - **Apr** **[Next Gate Tech](https://millionrounds.com/company/next-gate-tech)** Venture · LU **$8.8M** With 1 other - **2022** 3 rounds - **Aug** **[Nivaura](https://millionrounds.com/company/nivaura)** Venture · GB **$11M** With 2 others - **Jun** **[Open](https://millionrounds.com/company/open)** Series A · US **$26M** With 5 others - **Apr** **[Conjura](https://millionrounds.com/company/conjura)** Series A · GB **$16M** Sole investor - **2021** 2 rounds - **Sept** **[Coinfirm](https://millionrounds.com/company/coinfirm)** Series A · GB **$8.0M** Sole investor - **Jan** **[Minna Technologies](https://millionrounds.com/company/minna-technologies)** Series B · SE · 13books Capital **$19M** With 3 others An announcement gives the size of the round, not the size of this investor's cheque: the only rounds that imply a cheque are those where they were the sole named investor. ## The team Named by the firm itself, on a filing, its Form ADV or its company registration **3 named** LM **L. Michael Meyer** Director i Filing they signed PB **Pascal Bouvier** Director i Filing they signed PM **Patrick Michael Pinschmidt** Director i Filing they signed We also hold **11** people at this firm from the lists this database was built from: a weaker source than the filings, since a list does not say when a title ended. Login to see them. Who backs their funds ## 1 LP on record in Middlegame Ventures's funds - **Funds:** 1 The institutions that put money into its funds, which the firm then invests in companies. Source: an LP list. - [**Enterprise Ireland** 1 fund](https://millionrounds.com/fund/enterprise-ireland) Fund Vintage Committed Middlegame Ventures - - ## What they claim to have backed From their own portfolio page (on their website) **5** of 7 we have independently watched raise [DriveWealth](https://millionrounds.com/company/drivewealth)[Elliptic](https://millionrounds.com/company/elliptic)[Personetics](https://millionrounds.com/company/personetics)[Ripple](https://millionrounds.com/company/ripple)[Socure](https://millionrounds.com/company/socure) Alchemy Tandem Weaker than a round we watched, stronger than a list somebody sold us. A firm is far less willing to put a company on its own site that it never funded. New fund on file **$3.3M** raised in Jan 2020 From its SEC filing, not a journalist: a firm that has just raised has money to deploy. ## The cheque Seed Series A Series B Median round joined **$8.5M** the round, not its cheque Alone, median **$8.0M** Led 2 of 25 rounds **8%** - **Sole investor:** 3 rounds - **Last cheque:** Sept 2026 Rounds by stage said on their site - Venture *9* - Series A said *5* - Seed said *4* - Growth *2* - Pre-seed *1* - Debt *1* - Series B said *-* Cheques by month Led Joined Dec 2023 Nov 2026 Often in the room with - [Enterprise Ireland](https://millionrounds.com/fund/enterprise-ireland) 7 - [Delta Partners](https://millionrounds.com/fund/delta-partners) 2 - [Speedinvest](https://millionrounds.com/fund/speedinvest) 2 - [Volta Ventures](https://millionrounds.com/fund/volta-ventures) 2 **Pitching Middlegame Ventures?** Put them on your fundraising board with this record on the card, and follow them to hear when they write a new cheque. Add to your CRM *→* ## Who they invest alongside The investors most often in the same rounds as Middlegame Ventures. A count of rooms they were both in, not a relationship either has claimed. [**Enterprise Ireland** Government **7** rounds together](https://millionrounds.com/fund/enterprise-ireland)[**Delta Partners** VC firm **2** rounds together](https://millionrounds.com/fund/delta-partners)[**Speedinvest** VC firm **2** rounds together](https://millionrounds.com/fund/speedinvest)[**Volta Ventures** VC firm **2** rounds together](https://millionrounds.com/fund/volta-ventures) ## Recently backed The latest companies Middlegame Ventures put money into. [**fundcraft** $14M · Sept 2026](https://millionrounds.com/company/fundcraft)[**Wayflyer** $50M · Sept 2026](https://millionrounds.com/company/wayflyer)[**Trustap** $10M · Jun 2026](https://millionrounds.com/company/trustap)[**Payslip** May 2026](https://millionrounds.com/company/payslip)[**Theia Insights** $8.0M · Mar 2026](https://millionrounds.com/company/theia-insights)[**Circit** $22M · Feb 2026](https://millionrounds.com/company/circit) ## Mentioned on podcasts Episodes that name Middlegame Ventures in their description, not their title. - [Growth Investor](https://millionrounds.com/podcasts/growth-investor) 26 Oct 2021 · 24 min FinTech 3.0: Keeping up with Railsbank CEO Nigel Verdon Mentions [Middlegame Ventures](https://millionrounds.com/fund/middlegame-ventures) Apple PodcastsShow page ## Quick answers about Middlegame Ventures ### What does Middlegame Ventures invest in? Middlegame Ventures invests most often at Venture and Series A (64% of the rounds on record), in sectors such as Crypto, Non-fungible and Web 3. ### How active is Middlegame Ventures? 25 investments on record, 9 of them in the last 12 months, and it led 2. The most recent was in Sept 2026. ### What has Middlegame Ventures invested in recently? Its most recent investments on record: fundcraft (Growth, Sept 2026), ZeroRisk (Series A, Sept 2026) and Wayflyer (Debt, Sept 2026). ### How big are Middlegame Ventures's cheques? The median round it joins is $8.5M. ### Does Middlegame Ventures lead rounds? Sometimes: it led 2 of its 25 investments on record (8%). ### Where does Middlegame Ventures invest? Most of the companies it backs are in Ireland (36%), the United States (20%) and the United Kingdom (16%). ### Is Middlegame Ventures investing now? Yes: it is actively investing, with 9 investments in the last 12 months. ### Who does Middlegame Ventures invest alongside? Most often Enterprise Ireland (7 rounds together), Delta Partners (2 rounds together) and Speedinvest (2 rounds together). ## Raising now? Find the investors who back rounds like yours, and keep every conversation on one fundraising board. Find similar investorsOpen your CRM Built from the rounds we watched, its filings and its own website, refreshed every night. [How we count](https://millionrounds.com/methodology) · [Report a correction](https://millionrounds.com/corrections?slug=middlegame-ventures) · [Is this your firm? Claim it](https://millionrounds.com/claim?org=middlegame-ventures)