From: AltAssets
FinTech investor Vestigo Ventures is back in the fundraising market eyeing up to $100m for its sophomore investment vehicle, AltAssets can reveal.
Hitting that total would see Vestigo almost triple its funds under management, having hit a $53.9m final close for its debut fundraise about 18 months ago.
Firm founder David Blundin has co-founded more than a dozen companies, at least five of which have achieved $300m-plus valuations.
His successes include the founding and sale of web analytics company DataSage in a stock deal of Unicorn scale, and the co-founding of wealth management technology business Vestmark.
Vestigo Ventures Fund I is mainly comprised of funds from strategic limited partners who are corporate investors from the insurance industry and asset management – these firms make up 51 per cent of the capital pool.
Family offices interested in the FinTech space made of 28 per cent of the fund, and the remaining 21 per cent was supplied by individual investors from the financial service industry.
The firm focuses on early-stage FinTech companies applying technology like blockchain, AI and big data to improve market structures, provide operational solutions, enhance worksite management and/or support personal wealth strategies.
No capital has been raised for Fund II to date, a US SEC filing shows. The document says the firm expects the raise to go on for more than 12 months.
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