Corporate Central dialing up innovation by investing in Emerging Ventures
MILWAUKEE, WI (November 3, 2020) — Corporate Central recently announced that it has established a venture capital “fund” called Emerging Ventures. The capitalis intendedto drive long term credit union capabilities through innovative and strategic investing.
Through Corporate Central, the Emerging Ventures capital will leverage the strength of the organization to make strategic investments in emerging financial technology companies to drive future success.
Gregg Tushaus, SVP/Chief Technology and Strategy Officer at Corporate Central and President of Emergifi, will lead the overall development and management of the Emerging Ventures pipeline and will be Corporate Central’s primary interface with investment networks, investors, and portfolio companies.
“Emerging Ventures is targeting investments of $100,000 to $400,000 in seed, series A or series B rounds of companies that align with our strategies,” Tushaus said. “We are seeking a return on our investment appropriate for the risk, yet we are seeking strategic investments for the benefit of our members, not just financial investments.”
A committee of five progressive financial leaders will be responsible for evaluating investment opportunities, performing due diligence, and selecting investments to bring before the Corporate Central board of directors for approval. Investments and actions will comply with NCUA Regulation 704 and all future regulatory changes that may occur.
Per Tushaus, the committee prefers pooling efforts and investments with other credit union industry investors by leveraging networks and groups to find opportunities. Tushaus explains, “We will pursue innovative and emerging businesses and business leaders that will benefit from Corporate Central’s expertise in thought leadership and our nationwide credit union industry network. We will actively engage in opportunities to develop partnerships for delivering products and services and seek out innovative financial technology businesses that align with our strategy.”
Specific areas of interest include the following:
- Financial Wellness– businesses that advance credit union financial wellness or provide products and services that enhance credit union members’ financial wellness.
- Value-Added Service(via technology) – businesses that add value or enhance financial services products and services and provide credit unions a competitive advantage.
- Ecosystem– businesses that enhance the credit union and financial services ecosystem through connectivity and integration ensuring credit unions thrive in the evolving financial services ecosystem.
Interested investors and organizations can find more information on Corporate Central’s Emerging Ventures website.
Helping Members to be Wildly Successful
About Corporate Central Credit Union
Corporate Central Credit Union is a federally insured financial cooperative built on the values of commitment to service, fiscal responsibility, and respect for the individual. We cultivate a culture of respect, ethics, teamwork, and innovation. We are "Helping Members to be Wildly Successful" by delivering industry knowledge and expertise to help credit unions achieve their strategic objectives and compete in today’s evolving financial services industry. We are motivated to passionately serve our members and strive to learn, create, and innovate daily. Please visit corpcu.com to learn more, and follow us on Facebook, LinkedIn, Twitter, and YouTube.
