13books Capital, a venture capital firm established in 2019, has announced the closure of a new fund valued at £121m aimed at investing in the most promising founders in the FinTech sector.
Formerly known as Element Ventures, 13books Capital has a history of backing innovative FinTech companies.
The new £121m fund has garnered support from notable investors including British Patient Capital, Kreditanstalt für Wiederaufbau (KfW), Isomer Capital, and IPGL.
13books Capital specializes in nurturing early-stage FinTech firms, with investments typically ranging from £1m to £7m. The firm targets companies at the Seed to Series A funding stages, aiming to shape the future landscape of financial services.
The fund will be utilized to continue the firm’s mission of supporting pioneering entrepreneurs focused on revolutionizing financial technologies.
Additional noteworthy achievements of 13books Capital include a solid track record with investments in 19 FinTech companies such as Roadzen, Hepster, Coincover, and nCino. The firm’s impactful network includes 34 world-class founders and industry leaders who contribute significant entrepreneurial experience and expertise.
Michael McFadgen, Partner at 13books Capital, commented, “It is clear that European fintech entrepreneurs desire a sector-focused, founder-focused venture platform that has meaningfully impactful networks across the industry. We believe European fintech is entering a golden period, and we thank our LPs and founders for their trust and look forward to supporting the next generation of pioneering fintech entrepreneurs.”
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