FinTech investor Third Prime looks to almost triple AUM with Fund II raise

Seed and Series A-stage venture capital house Third Prime is back in the fundraising market eyeing up to $60m for its second vehicle.

The firm raised $36m for its debut fund less than two years ago, but is already back with a follow up according to a document it filed with the US SEC.

No commitments have been registered for Third Prime Alpha Fund II to date, although the filing does indicate the firm expects to complete the raise within 12 months.

The New York and South Carolina-based firm looks to invest between $1m and $4.5m in startups across sectors including FinTech, enterprise and big data software, AI and business services.

Third Prime’s FinTech investments to date include loan market business LoanStreet, point-of-sale financing platform Octane Lending, bookkeeping service Bench and Atlas, which aims to provide banking services for the financially underserved.

The firm is led by managing partners Wes Barton and Keith Hamlin.

Barton has more than a decade of experience within private equity and hedge fund investing through stints at Trimaran and Trian, while Hamlin managed PE and alternative portfolios at Pan Am Equities and was an M&A lawyer at Skadden Arps.

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