FinTech-focused TTV Capital registers first commitments for slightly larger Fund V

FinTech-focused venture investor TTV Capital has registered its first US capital commitments for its fifth fund.

TTV Fund V has secured $87m of capital commitments from at least 31 investors so far, according to a filing with the SEC.

The firm is looking to raise as much as $125m for the fund. That would put it slightly above its predecessor fundraise, which pulled in $93m at its final close in 2017.

Fund IV was more than twice the size of its own predecessor, TTV Capital Fund III, which the firm closed on $40m in 2013.

Apple Lane Group has been listed as a placement agent for the fund in Massachusetts, while Frontier Solutions has also been registered as an agent for a number of states including Maryland and New York.

TTV was founded in 2000 and is focused exclusively on investing in fintech companies. The firm has a particular interest in start-ups involved in payments banking and data analytics.

The Georgia-based firm is led by co-founders and managing partners Gardiner Garrard and Thomas Smith.

Previous early-stage investments made by the firm include Apruve, Blooom, DefenseStorm, Featurespace, Gro, and SmartAsset.

Last week, fellow FinTech venture capital investor Core Innovation Capital confirmed it is eyeing up to $100m for its third foray into the fundraising market.

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