MiddleGame Ventures says European fintech warrants separate allocation line item for investors
XLF•Payments sovereignty and market share
It highlighted sovereignty-led spending, citing Visa and Mastercard at 61% of European card transactions, processing over €7 trillion.
Data points on returns, pricing and demand
It cited Atomico data showing a 17.2% 10-year European VC index return, with European pensions allocating 0.009% to venture.
The analysis flagged a structural entry discount, with European rounds priced 30%–50% below US levels, including a $28 million median Series A.
It pointed to compliance-driven demand from EU rulebooks, with statutory deadlines acting as de facto purchase triggers for fintech infrastructure.
MiddleGame Ventures argues European fintech should stand alone
MiddleGame Ventures argued European fintech should be a standalone allocation, not a subset of broader European tech, in a September 2026 analysis.
