Leucadia Asset Management Announces Strategic Relationship With Illuminate Financial

Rhea-AI Summary

Leucadia Asset Management, part of Jefferies Financial Group (NYSE: JEF), has entered a strategic relationship with Illuminate Financial Management, a venture capital firm focused on fintech and enterprise software. This collaboration includes a commitment from Leucadia to invest in Illuminate's venture capital strategy. Illuminate, backed by major investors like JP Morgan and S&P Global, aims to leverage Leucadia's expertise to enhance its investment capabilities in next-generation fintech solutions.

Positive

• Leucadia's investment in Illuminate Financial Management could lead to enhanced growth opportunities in the fintech sector.
• Illuminate has strong backing from established investors, bolstering confidence in its venture capital strategy.

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• None.

NEW YORK--(BUSINESS WIRE)-- Leucadia Asset Management, the asset management division of Jefferies Financial Group Inc. (NYSE: JEF), today announced a strategic relationship with Illuminate Financial Management, a venture capital firm that invests in companies and technologies at the forefront of the financial services industry. In connection with the transaction, Leucadia Asset Management will commit to investing in Illuminate Financial Management’s venture capital strategy.

Illuminate Financial Management is a thesis-driven venture capital firm dedicated to fintech and enterprise software companies building technology solutions for financial services. Existing investors from Illuminate Financial Management’s previous funds will continue as additional anchor investors in the third fund, including JP Morgan, S&P Global and Deutsche Börse Group.

“Illuminate Financial Management has a tremendous track record in backing companies that identify and solve problems in financial services, a sector in which Jefferies has long had expertise and can bring critical insights. This strategic relationship with Leucadia Asset Management will help to extend Illuminate Financial Management’s differentiated position and success, and the expertise of Illuminate Financial Management and its access to cutting edge technologies and companies will also benefit Jefferies,” said Nick Daraviras and Sol Kumin, Co-Presidents of Leucadia Asset Management.

“Illuminate Financial Management’s ability to continue identifying investments that capitalize on next generation fintech and other technologies for financial services will be significantly enhanced by the insights and experience of Leucadia Asset Management, as well as by the expertise and industry leadership of Jefferies. The resources and support of the Leucadia Asset Management platform will also enable us to concentrate on finding and funding the best opportunities for our investors,” added Mark Beeston, Founder and Managing Partner of Illuminate Financial Management.

About Leucadia Asset Management

Leucadia Asset Management offers institutional clients an innovative range of investment strategies through its affiliated asset managers. Leucadia Asset Management is a division of Jefferies Financial Group Inc. (NYSE: JEF), a diversified financial services company.

About Illuminate Financial Management

Illuminate Financial Management (Illuminate) is a thesis-driven venture capital firm focused on fintech and enterprise software companies defining the future of financial services with offices in London, New York, and Singapore. Illuminate’s deep networks and trusted partnerships with key industry participants provide real insight into what the industry needs, and helps their portfolio companies achieve their full potential. For more information, visit www.illuminatefinancial.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220524006193/en/

Media Inquiries:

Leucadia Asset Management / Jefferies

Jonathan Freedman

212-778-8913

jfreedman@jefferies.com

Illuminate Financial Management

Rosie Zehtab

+44 (0)203 198 1600

rz@illuminatefinancial.com

Source: Leucadia Asset Management

FAQ

What is Leucadia Asset Management's recent announcement regarding Illuminate Financial Management?

Leucadia Asset Management announced a strategic relationship with Illuminate Financial Management, committing to invest in its venture capital strategy.

What is the focus area of Illuminate Financial Management's investment?

Illuminate Financial Management focuses on fintech and enterprise software companies within the financial services industry.

Who are Illuminate Financial Management's major investors?

Major investors in Illuminate include JP Morgan, S&P Global, and Deutsche Börse Group.

How does this partnership benefit Jefferies Financial Group?

The partnership enhances Jefferies' access to cutting-edge technologies and investment opportunities in the fintech sector.

What is the stock symbol for Jefferies Financial Group?

The stock symbol for Jefferies Financial Group is JEF.