TEL AVIV, Dec 6 (Reuters) - Israel's Viola investment group said on Wednesday it has raised $100 million toward a target of $120 million-$150 million for a new global financial technology fund.
The fintech fund is backed by banks, insurance companies and asset managers from North America, Europe, Asia-Pacific and Israel, including Scotiabank BNS.TO , The Travelers Companies (NYSE:TRV) TRV.N and Bank Hapoalim POLI.TA .
Viola FinTech said it is working closely with its investors to accelerate the adaption of technology by financial institutions.
Daniel Tsiddon, the former deputy CEO of Bank Leumi LUMI.TA , Israel's second largest bank, is a founder and general partner in the fund.
The Viola group has over $2.8 billion in assets under management. Last month its Viola Ventures said it had raised a new fund with commitments of over $170 million towards a $200 million target.