Silicon Valley-based growth investor True Ventures is looking to raise up to $325m for its latest fund, FinTech Global can reveal.
True Ventures Select III has yet to register any capital, according to the latest US Securities and Exchange commission filing. It is unclear whether the $325m figure is a target or hardcap.
The firm has made a series of investments into the FinTech sector over the past year. Earlier in 2018, True Ventures led the £3.4m funding round of Flipside Crypto, an investment portfolio and data solution provider for the cryptocurrency market. Its investment was raised to support the company with developing algorithm-based investing.
Another deal this year was a participation in the $6m capital raise of data protection solution application Baffle. Serving as a continuation investment, the firm’s contribution will help to accelerate the development of Baffle’s product and expand its market opportunity.
Other FinTech investments completed by True Ventures last year include, a commitment to Duo Security’s $70m Series D, participation in Lumity’s $19m Series B and an investment into Namely’s $50m Series D.
Founded in 2005, the firm looks to support global entrepreneurs across any industry and support them through their entire lifecycle, according to the firm’s website.
There has been a recent string of firms to raise FinTech related investment vehicles. Last week, Firstminute Capital held the $100m final close for its tech fund and Wavemaker Partners raised $75m in its fifth vehicle.
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