Nyca Partners closes second FinTech fund with $125m

New York-based venture firm Nyca Partners has closed its latest fund with $125m in total commitments to invest in fintech.

Launched in 2014 by former Citigroup banker and president of Visa Hans Morris, the firm focuses on investments in financial services innovation.

The new fund will see it continue to invest in startups in the fintech sub-sectors of merchant payment solutions, alternative credit, digital advice, and financial infrastructure.

The firm has made investments in more than 30 companies across these sub-sectors since launching.

Nyca Fund II saw commitments from 10 institutional investors and 29 Limited Partner Advisors with senior industry experience.

Among the fund’s investors is Digital Ventures, a fintech dedicated VC arm of Thailand’s Siam Commercial Bank(SCB).

The fund follows the firm’s debut fund which closed with $30m in July 2014.

Harris said: “When we started Nyca nearly three years ago, the goal was to create a unique firm that was comprised of experienced financial services and technology professionals that could help companies succeed in the global financial system.

“By providing financial technology knowledge to early stage companies, we are able to offer a unique and much-needed service.

“This is an exciting time for fintech and this latest fund will allow us to continue to invest in companies that leverage technology to build platforms that empower consumers.”

Nyca Fund II has already made more than a dozen investments to date including Axioma, EmBroker, Ladder, LeapYear, and Personetics.

Copyright © 2017 FINTECH GLOBAL

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