Fin VC Closes Three New Funds And Lists SPAC; Reaches Over $1BN AUM To Support B2B FinTech From Pre-Seed To IPO
Firm announces key hires and 2022 European expansion, becoming the first global asset management platform focused exclusively on B2B FinTech
SAN FRANCISCO, November 08, 2021–(BUSINESS WIRE)–Fin VC (“Fin”), a global asset management firm focused on B2B FinTech, has announced the close of three new funds, totaling more than $400M, and the listing of a $200M Special Purpose Acquisition Company (“SPAC”). Together with its first set of funds, Fin has now reached over $1BN AUM in only its third year of operations. The new capital will be deployed across four investment strategies, Regatta (pre-Seed), Flagship (Seed-B), Horizons (Growth), and Constellation (Publics).
With these new platforms, Fin will invest across a company’s full life cycle and support entrepreneurs from inception to IPO. Fin works hands-on with experienced entrepreneurs at the forefront of innovation and invests exclusively in B2B FinTech SaaS across the US, UK and Europe. Founded in 2018, Fin has invested in more than 50 leading startups, including 9 Unicorns – Pipe, Tradeshift, Greenlight, Unqork, DailyPay, Figure, Numbrs, BrainTrust and recently exited SoFi.
“The ability to partner with entrepreneurs and companies from early stage to exit, and truly be long term partners to our portfolio, achieves the vision we’ve had since founding Fin,” said Founder and Managing General Partner Logan Allin. “FinTech company formation is at an all-time high and we believe that the rise of ‘innovation enablers,’ the B2B companies supporting incumbent FinTechs, banks, insurers, and corporates, will create an even larger and more impactful market than their B2C and B2B FinTech predecessors.”
Fin also announced its expansion to Europe with the opening of its regional Headquarters in London in Q1, 2022, joining offices in San Francisco and New York. The new London office will be led by Henry Cashin (ex-Klarna and Mastercard) and will play an integral part in furthering the firm’s mission to partner with B2B FinTechs on both sides of the Atlantic from their early stages to IPO, including supporting market entry from US companies. Fin has already invested in several UK and European companies, including Onfido and Numbrs.
“FinTech is booming across the UK and Europe, thanks to innovation-friendly regulation and open banking laws, and we are seeing exceptional entrepreneurs scale and outpace their global counterparts,” Allin said. “In such a competitive market, founders need more than just capital to succeed. The UK, in particular, remains a much more mature FinTech market and so we are excited to expand our physical presence in Europe through our London HQ.”
The firm also appointed Kevin Nee as a Partner and Chief Capital Officer. Nee, formerly holding senior positions at Fifth Wall, TIAA, Wilshire Associates and BlackRock, will oversee capital formation and portfolio corporate development globally. Additionally, former Plug-n-Play Ventures Associate Fan Wen has been announced as Fin’s Head of Data Science and will lead the firm’s new proprietary data science platform, Lighthouse. Lighthouse leverages frontier technologies like artificial intelligence, machine learning, and natural-language processing to help the firm, its LPs, and portfolio companies search, source, assess, and monitor the FinTech ecosystem.
Fin is a global asset management firm focused on full life cycle investing in B2B FinTech companies across the US, UK, and Europe. With offices in San Francisco, New York and London (Q1 ’22). Fin’s investing platform includes Pre-Seed (Regatta), Early Stage (Flagship), Growth Equity (Horizons), and Public Equity (Constellation) strategies, and has invested in over 50 portfolio companies globally. The firm focuses broadly across FinTech in six sub-sectors: Embedded Finance, Asset Management/Capital Markets, CFO Tech Stack, InsurTech, Enterprise Blockchain, and Enabling Tech/Infrastructure.
Led by Founding Partner Logan Allin (SoFi Ventures, Invesco) and General Partner Peter Ackerson (McKinsey, Wells Fargo), the firm has built the first global asset management platform exclusively focused on FinTech. The senior leadership team includes Ren Riley (Oak Investment Partners, Robertson Stephens), Christian Ostberg (Thomvest Ventures, Eden), Alka Gupta (eBay, PayPal), Emy Donavan (Resilience, Allianz), and Mike Hurst (City National Bank, Exactuals) as Partners.
The Fin team is comprised of former corporate and start-up operators and takes an active value-added approach to investing. It stewards portfolio companies through all stages of growth using its Operating Playbook to support business development, capital formation, corporate development, board advisory and talent sourcing. Fin is proudly an ESG-compliant manager and UN PRI signatory, focusing on advancing ESG metrics across its portfolio to drive stronger and more durable long-term companies.
For more information contact
Logan Allin, Fin Venture Capital