Non-bank aid to e-finance
According to Mark Gormley, a partner with Capital Z Partners, very few venture capital Wrms focus on e-Wnance and, apart from the securities Wrms and banks themselves, Capital Z is the only one in Europe that deals exclusively with it.
|Mark Gormley: systems neglected in Europe
Capital Z has primarily focused on enabling technologies and products that can be immediately utilized by the Wnancial sector. "We don't want to be in any business where we have to change people's mindsets," says Gormley. "For anything where you have to change either the consumer's mindset or a business's way of doing things, we're Wnding the adoption rates are slow and the cash burns are high. To us, those are diYcult investments to make, so what we're looking to invest in is businesses that these big Wnancial institutions can use to improve and help their business."