FinTech Collective – a New York-based venture capital firm focused on innovation in insurance and other financial sectors — has raised $250 million to fuel future projects.
The outfit typically invests in traditional fintech and also emerging digital assets, Funding will target early-stage startups as well as projects focused on decentralized finance.
Typical investment areas look at capital markets, wealth and asset management, banking-lending-payments and insurance. Approximately $200 million will focus on early-stage investments, with $50 million going toward open-source, composable financial protocols and applications being built on smart-contracting platforms such as Ethereum. The DeFi (decentralized finance) strategy will invest across the breadth of opportunities emerging in the decentralized finance space – including both equity and liquid tokens.
Founded in 2012, FinTech Collective is led by Managing Partners Brooks Gibbins and Gareth Jones, who have worked together for more than two decades as entrepreneurs and operators in the fintech space, having built and sold four businesses for proceeds of more than $1.5 billion.
FinTech Collective invests globally and has 53 companies operating in the United States, Latin America, the UK/Europe, and Africa.
In FinTech Collective’s current portfolios, 20 percent of the investments are blockchain and DeFi, including five fintech unicorns, which are valued at more than a billion dollars. The firm’s “hit rate” (companies that are still active) currently stands at 96 percent, which is notable for the fact that two-thirds of those initial investments were into pre-revenue companies.
Source: FinTech Collective