Dive Brief:
- The fintech-focused venture capital firm FTV Capital said Wednesday that it has raised about $4.05 billion in its latest fundraising effort.
- FTV has now raised over $10.2 billion since it was founded in 1998, and invested $6.7 billion in 149 companies, the firm said in a Wednesday news release.
- “The new capital allows FTV to deepen and expand its approach to supporting innovative, high-growth companies with equity checks ranging from $20 million to $300 million while maintaining a concentrated portfolio of investments in its funds,” the release said.
Dive Insight:
The $4.05 billion raised by FTV in this fundraising spans two complementary funds, the firm said in its news release. That includes money for the latest fund in the flagship series, FTV VIII, and a new fund category focused on smaller investments, called FTV Ascend.
Both funds surpassed their fundraising targets, the news release said.
FTV's portfolio is made up entirely of fintech B2B company investments. The companies FTV has invested in include Vagaro, a payments company that works with salons, spas and fitness centers, and Ebanx, a cross-border payment processor.
The firm deployed $1.6 billion in 2024, and reaped about $1 billion in value, the release said.
The companies FTV invested in last year include Englewood, Colorado-based BillingPlatform, a payments software company; Redwood City, California-based software management company Agiloft; and the analytics company Zema Global Data Corporation, based in Greenwood Village, Colorado.
Fintech funding declined in 2024, according to markets intelligence firm CB Insights. Fintech companies raised a total of $24.6 billion during the first three quarters of 2024, which was lower than the $32.6 billion raised by fintech companies in the same period in 2023, and less than half the $69.4 billion raised in the first three quarters of 2022.
