TTV Capital, an early-stage FinTech venture capital firm, has closed its sixth fund at $250m to invest in early-stage FinTech companies.
The fundraise, which originally targeted $150m, is the largest since the firm was founded two decades ago.
TTV Capital said the round saw “overwhelming interest” and was oversubscribed by $100m. Fund VI includes both new and existing limited partners comprising institutional and strategic investors, as well as family offices.
In 2022 alone, TTV Capital made 18 investments in early-stage FinTech companies across payments, banking, investing, cybersecurity, Web3, and embedded finance, with an average initial check size of $2m to $7m.
The firm also has an exploratory fund for investments starting at $250,000. To date, TTV Capital counts more than 100 financial technology companies in its portfolio, and seven of those have reached unicorn status.
The firm has led early investments in multiple category-creators, including Bill.com, Shopkeep, Green Dot, SmartAsset, and others.
Gardiner Garrard, co-founder and managing partner at TTV Capital, said, “Fund VI represents an inflection point for all of us at TTV Capital. Twenty-three years ago, we took an early bet on how the technology behind financial services would evolve. Back then, we didn’t call it ‘fintech’ – we just started investing in applications that were being built on the internet. We saw the digital transformation that was happening and we knew we wanted to be part of it. And now, as we look ahead, we’re still committed to finding the next class of enduring businesses that will shape the future of finance.”
Sean Banks, partner at TTV Capital, added, “Founders often tell us that our relationships, connections, and deep industry knowledge are most helpful to them as they grow their businesses.”
Last year, British Patient Capital revealed it will commit €25m to Finch Capital’s Europe Fund III, a dedicated FinTech fund.
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