June 9 (SeeNews) - Bulgarian company MFG Invest [BUL:MFG] said on Friday that it injected $50,000 (46,481 euro) in Canopy Investment Funds II SPV LLC, a Delaware-registered special purpose vehicle (SPV) of U.S. fintech Canopy.
The investment transaction was completed on June 6, MFG Invest said in a bourse filing without providing further information.
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Launched in 2021, Canopy has developed a software platform to facilitate investments in startups and help investors set up and manage SPVs for co-investments, raise private funds and manage capital deployment.
According to MFG Invest's filing, Canopy is currently mainly promoted and used by private investment funds for arranging funding rounds as well as for subsequent investment management. The company's goal is to develop and upgrade the private fund management model of Nasdaq-listed SS&C, a holding company that sells software and software-as-a-service to the financial services industry and has a market capitalisation of some $14 billion.
MFG Invest raised some 4 million levs ($2.2 million/2.04 million euro) in an initial public offering in December. Most recently, it put 100,000 euro in local entertainment company Forge Interactive.
($ = 0.9296 euro)