Business & Finance
Fiat Ventures rebrands to FGV Capital and launches $35 million second fund
The fintech-focused firm combined its growth consultancy and venture divisions to offer a unified strategy for startups.
The short version
- Fiat Ventures has rebranded as FGV Capital, merging its advisory division, Fiat Growth, and its venture arm.
- The firm announced a new $35 million Fund II to invest in fintech startups at the intersection of AI, healthcare, and commerce.
- The new fund aims to back at least 25 companies over two years with checks ranging from $1 million to $1.5 million.
Key facts
- Fiat Ventures combined its growth consultancy and venture divisions under the new brand FGV Capital.[TechCrunch]
- The firm raised $35 million for its second fund, Fund II, following an 18-month fundraising process.[TechCrunch]
- Fund II's investment thesis focuses on fintech's intersection with artificial intelligence, healthcare, and commerce.[TechCrunch]
- Limited partners in Fund II include Reinsurance Group of America, MassMutual, and Bank of America.[TechCrunch]
- Fund II plans to invest $1 million to $1.5 million in at least 25 companies over two years, and has already backed 13 companies.[TechCrunch]
- Co-founders Drew Glover and Marcos Fernandez stated that the consultancy and investment divisions will continue to operate as separate entities with clear processes to prevent bias in investment decisions.[TechCrunch]