Revolution Ventures has closed its third fund on $215m to support companies in underserved geographies around the world.
The vehicle, Revolution Ventures III, was oversubscribed and will continue the strategy of its previous funds by investing in early-stage companies in underserved countries.
Last year, FinTech Global reported the investor had returned to the fundraising market, setting a $200m goal for its third fund.
Its predecessor fund closed in 2013 with a capital pool of $200m. Since then, it has achieved five successful exits from the 18 in its portfolio.
Revolution focuses on markets outside the coastal tech corridors, which it believes offers “visionary entrepreneurs and companies but in a less intense and competitive investing environment.”
A number of FinTechs are in its current portfolio, including digital insurance policy comparison platform PolicyGenius, mobile-based lending service TALA, and affordable, credit-building loans company Aura.
Revolution Ventures managing partner David Golden said, “In a world of ever-increasing fund sizes, we’ve found a model that has worked well for us for over a decade: acquire significant ownership stakes in companies that meet our disciplined criteria so that we have the time to form true partnerships with founders and help their companies grow. We do fewer deals, concentrating our time and capital in each of our portfolio companies to drive stronger outcomes for management and investors alike.”
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