BOCA RATON, Fla.–The investment firm Black Dragon Capital said it has entered into a partnership with First Tech Federal Credit Union aimed at investing in and developing fintech.

“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,” Black Dragon said in a statement. “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.”

Strong Tech FOM

The $17-billion First Tech is headquartered in San Jose, Calif., but has a significant presence in Oregon and other markets. It serves numerous technology-oriented companies and their employees, including HP, Hewlett Packard Enterprise, Microsoft, Intel, Amazon, Google, and more, and has more than 700,000 members.

Black Dragon said it has partnered with other credit unions that are also seeking to find a “solution to the digital challenges faced by our community.”

‘Forward-Looking Investors’

“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,” First Tech President and CEO Greg Mitchell said in a statement. “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.”

‘Competitive Advantages’

In a statement, Black Dragon Capital said its insights on operations, combined with its deep experience in cutting-edge technology puts the company 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,” Black Dragon Founder and CEO Louis Hernandez, Jr. said in a statement. “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.”