FinTech Collective closes $250 million fund with new DeFi strategy


FinTech Collective, a venture capital firm investing across fintech and digital assets, has raised $250 million in fresh capital.

$200 million will be poured into the firm’s existing early-stage strategy, which targets fintech and digital assets, with $50 million assigned to a newly formed Decentralized Finance (DeFi) fund.

According to an announcement, the DeFi fund will invest in both equity and tokens linked to “open-source, composable financial protocols and applications being built on smart-contracting platforms such as Ethereum.”

Investors in the latest raise include a range of asset managers, such as The State of Wisconsin Investment Board, The Teachers’ Retirement System of the State of Illinois, Greenspring Associates, and StepStone Group. DRW and British billionaire Alan Howard also invested.

The raise brings FinTech Collective’s total assets under management to more than $500 million. Founded in 2012, the company has invested in 53 companies globally to date. Its big exits include the sales of Quovo and Reorg Research, and the upcoming SPAC-merger of MoneyLion.

Managing partner Brooks Gibbins said in a statement that Fintech Collective was “among the first venture capital firms to recognize the fintech opportunity resulting from the global financial crisis.”

“We believe the next 30 years represent an unprecedented period when every facet of financial services will be deconstructed and reconstructed, and our deep global roots, particularly in the New York and European ecosystems, allows us to take advantage of this tremendous opportunity,” he added.

Trending Stories

Get Your Crypto
Daily Brief

Delivered daily, straight to your inbox.

Digital asset economy fuels instant settlements innovation

Today the always-on demands of online markets have to be matched with the ability to access opportunities instantly and with no limits. Historically correspondent banks would move large sums of money for those needing to transfer funds while creating bottlenecks of unnecessary friction.
Read Full Story
Sponsored Post

Layer-2 Scaling Solutions: A Framework for Comparison - Commissioned by Polygon

Ethereum had a breakout year in 2021. It’s native asset, ETH’s, market capitalization surpassed $500 billion for the first time. Its network facilitated upwards of $7 trillion value transfer. Non-fungible tokens (NFTs) emerged as another “killer application” that have put its technology on the global stage and caught the attention of the masses.
Read Full Story
May 5, 2022, 3:17PM UTC