Collaboration Between Innovative Credit Union and Top Performing Investment Group Aims to Create Sustainable Technologies to make credit unions more competitive in serving their community
Black Dragon Capital, a multi-phased investment firm that is led by recognized leaders in financial technology and credit unions who understand the unique needs of this market, has announced their partnership with First Tech Federal Credit Union.
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Founded over a decade ago by recognized financial technology and credit union leaders, Black Dragon Capital is a multi-phased investment firm focused on disruptive technologies in high growth industry segments that strengthen economic stability within communities. The firm is led by a collaborative team with a combination of intense operating experience, community impact focus, and a proven ability of transforming and growing companies.
First Tech Federal Credit Union (“First Tech”) is a $17 billion institution which serves the world’s leading technology-oriented companies and their employees, including HP Inc., Hewlett Packard Enterprise, Microsoft, Intel, Amazon, Google, and more. The organization provides a full range of financial services, including traditional banking, online banking, mortgages, financial planning, various consumer loans, and insurance services to over 700,000 members¹.
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Following an intensive due diligence process, First Tech has entered a partnership with Black Dragon Capital℠ with the main objective of addressing the significant business and competitive issues created by the ongoing digitization of financial services. Through this collaboration, Black Dragon Capital and First Tech Federal Credit Union hope to create and scale financial technology companies that can help credit unions transform their business and regain their member service advantage.
First Tech joins a growing list of the most recognized and innovative Credit Unions in the industry who have partnered with Black Dragon Capital to contribute towards finding the solution to the digital challenges faced by our community. They will work with the Black Dragon Capital team to leverage the firm’s global reach and technology-driven expertise, with the main objective of delivering innovative solutions dedicated to empowering credit unions to thrive in a rapidly evolving digital landscape.
“Following successful early-stage investments in Alkami Technologies, Splash Financial, Glia and others, First Tech has chosen to join other forward-looking investors through its partnership with Black Dragon Capital,” said Greg Mitchell, President and CEO, First Tech Federal Credit Union. “While we’ve been solicited by countless other funds and fund manager we believe that Black Dragon offers a unique, and value-driven model, that leverages the skills of proven operators and business folks in the selection of investment opportunities while ensuring that those some business and technology savvy leaders remain engaged with the targeted investments in good times and bad. That engagement includes active dialogue with credit unions and other end-users of the product of technology. While there no guarantees in life, I believe that success comes to those who do the work in fully understanding opportunities and then apply skill, energy and other resources to move from opportunity to outcome.”
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The Black Dragon Capital℠ team’s insights on operations, combined with their deep experience in cutting-edge technology puts them in a place to deliver competitive advantages for their portfolio companies and founders. Through intense research on the competitors and markets, they have honed their prowess in identifying scalable solutions and helping founders accelerate growth by cutting through competition.
“We are excited to work together with First Tech Federal Credit Union in finding technological solutions that will enable credit unions to thrive in this rapidly evolving landscape. To reach this goal, we present credit unions like First Tech with a unique opportunity to partner with our team of experienced professionals – all of whom have deep domain expertise in the financial industry, and a proven ability of transforming and growing companies,” said Louis Hernandez Jr., Founder and CEO, Black Dragon Capital.
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Source – PR Newswire
