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Following a 30-year career in the financial services industry and retiring as president/CEO of the $28.7 billion BECU in Tukwila, Wash., in December, Benson Porter is launching a second career in the fintech industry at a Florida private equity firm.
Boca Raton-based Black Dragon Capital said Monday Benson will work as its executive advisor, focusing on fintech investments that serve the needs of credit unions.
The private equity firm makes what it called "control investments" in growth sectors disrupted by digitization and also launches and develops high potential early-stage companies. BDC said it places a special focus on investing in technology areas that address social issues and strengthen economic diversity within communities.
Benson Porter BDC's investment portfolio includes fintechs such as Open Bank Solutions, Indus and Payveris. The firm also holds investments in e-commerce companies such as Naveo Commerce and Enterworks, and mediatech businesses such as Grass Valley.
Porter's job will include advising BDC on fintech investments that address top strategic issues that concern credit unions and CUSOs.
Benson and BDC Founder/CEO Louis Hernandez Jr. have worked together for almost two decades on technology projects. Hernandez has been inducted into the Innovators Hall of Fame by Banking Technology News, listing him as one of the top five innovators in financial technology.
"Louis is an award-winning entrepreneur and innovator who has been a long-term friend. I'm really excited to work with Black Dragon Capital so credit unions can participate and benefit from future disruptive technologies," Porter said in a prepared statement. "We are going to do everything we can to help credit unions so they can uniquely serve their communities."
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