Propel was formed by Jay Reinemann and David Mort from spinning out BBVA’s corporate venturing unit.
Spain-based bank BBVA has committed a further $150m to financial sector-focused venture capital firm Propel Venture Partners and bringing its total commitment to more than $400m since 2016.
BBVA has committed an initial $50m to an annual fund as the sole limited partner (LP). This will be followed by similar funds in 2022 and 2023, which will be open to outside investors.
Propel was formed by Jay Reinemann and David Mort from spinning out BBVA’s corporate venturing unit. It has…
