Leucadia Asset Management, the asset management division of Jefferies Financial Group Inc. (NYSE: JEF), today announced a strategic relationship with Illuminate Financial Management, a venture capital firm that invests in companies and technologies at the forefront of the financial services industry. In connection with the transaction, Leucadia Asset Management will commit to investing in Illuminate Financial Management’s venture capital strategy.
Illuminate Financial Management is a thesis-driven venture capital firm dedicated to fintech and enterprise software companies building technology solutions for financial services. Existing investors from Illuminate Financial Management’s previous funds will continue as additional anchor investors in the third fund, including JP Morgan, S&P Global and Deutsche Börse Group.
“Illuminate Financial Management has a tremendous track record in backing companies that identify and solve problems in financial services, a sector in which Jefferies has long had expertise and can bring critical insights. This strategic relationship with Leucadia Asset Management will help to extend Illuminate Financial Management’s differentiated position and success, and the expertise of Illuminate Financial Management and its access to cutting edge technologies and companies will also benefit Jefferies,” said Nick Daraviras and Sol Kumin, Co-Presidents of Leucadia Asset Management.
“Illuminate Financial Management’s ability to continue identifying investments that capitalize on next generation fintech and other technologies for financial services will be significantly enhanced by the insights and experience of Leucadia Asset Management, as well as by the expertise and industry leadership of Jefferies. The resources and support of the Leucadia Asset Management platform will also enable us to concentrate on finding and funding the best opportunities for our investors,” added Mark Beeston, Founder and Managing Partner of Illuminate Financial Management.
About Leucadia Asset Management
Leucadia Asset Management offers institutional clients an innovative range of investment strategies through its affiliated asset managers. Leucadia Asset Management is a division of Jefferies Financial Group Inc. (NYSE: JEF), a diversified financial services company.
About Illuminate Financial Management
Illuminate Financial Management (Illuminate) is a thesis-driven venture capital firm focused on fintech and enterprise software companies defining the future of financial services with offices in London, New York, and Singapore. Illuminate’s deep networks and trusted partnerships with key industry participants provide real insight into what the industry needs, and helps their portfolio companies achieve their full potential. For more information, visit www.illuminatefinancial.com.