FinTech Collective seeks $100m for second fund

fintech insurtech wealthtech regtech ai cybertech esg news
fintech insurtech wealthtech regtech ai cybertech esg news

New York-based venture capital firm FinTech Collective aims to raise $100m for its second fintech-dedicated fund.

The news comes courtesy of an SEC filing at the end of 2016 for FinTech Collective Fund II.

The fund has yet to receive any commitments from LPs.

FinTech Collective counts investors including BNY Mellon, Macquarie, MassMutual, MasterCard and Aegon/Transamerica among its previous backers.

Details regarding the size of the company’s debut fund is undisclosed.

Founded in 2012, the firm is led by founders Brooks Gibbins and Gareth Jones and aims to initially invest in seed and Series A rounds, exclusively in fintech companies serving financial services.

The average investment size ranges between $200,000 and $5m.

It outlines its areas of investment as capital markets, wealth & asset management, insurtech and banking, lending & payments.

It also makes what it calls ‘impact’ investments in companies focused on areas such as financial inclusion, solar financing and bringing services like insurance to emerging markets.

FinTech Collective has made 33 investments in 18 different companies to date, according to Crunchbase.

Most recently it contributed to blockchain-tools-for-capital-markets-provider Axoni’s $18m Series A round in December 2016.

Last month it also participated in its largest round to date, contributing to MoneyLion’s $22.5m Series A.

Copyright © 2017 FINTECH GLOBAL

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