A venture capital fund based in San Francisco, Financial Venture Studio, has announced the final close of its second fund with nearly $40 million. The funds came from an array of leading institutional investors, including some of the country’s largest banks and insurance companies alongside pension funds, global fund-of-funds, and some most prominent names in financial services and technology.
Focuses on early-stage fintech startups
With Fund 2, they have completed 12 deals and it continues to outperform, and the broader market pulls back. The VC fund believes that the underlying problems of financial services have not been solved. Their deep engagement model is proving to add value to the strongest founders in the industry.
The brand shift reflects the Fund’s ambition to serve as the first capital and a basis of knowledge and connections that will support fintech founders for decades to come. Already, the VC has invested in 10 companies so far in 2022, including at least five new investments in the second and third quarters.
“We’re excited to keep partnering with the country’s most sophisticated institutional investors to build the future of financial services in the U.S and elevate talented founders who are solving our outdated financial ecosystem with one that is customer-centric, efficient, and more equitable,” said, Ryan Falvey, Founding Partner at Financial Venture Studio. “We’re excited about the role that we play in partnering with our portfolio companies to provide the early capital, critical insights, and timely connections to launch their companies and quickly grow within the financial services sector.”
“It’s great to see the continued momentum since joining the team earlier this year,” said Cameron Peake, Partner at Financial Venture Studio. “A big part of why I joined was the unique role FVS plays in partnering with early-stage founders. The validation I’ve seen of this approach both from our portfolio companies – and now a group of world-class limited partners -exemplifies why I’m so bullish about the future of this fund and our ability to transform the financial services industry.”
Builds future of financial services
Founded in 2018 by Ryan Falvey and Tyler Griffin in San Francisco, Financial Venture Studio, is focused on early-stage fintech startups in the US. It invests in great teams that it believes can improve the way that Americans conduct their financial lives. Besides investing in the best early-stage fintechs, the fund makes them even better. It provides access and insights that founders need to build transformational companies. With its Fund I launched in 2019, they have invested in 50 companies.
The VC’s portfolio comprises one public listing, three cash exits, including Digit to Oportun, Roger.AI to FLEETCOR (invested in Zap-Map), and Sheltr to Hippo Insurance, and two stock exits, including Harvest to Acorns and Joust to ZenBusiness. Also, it has demonstrated a 94% success rate in helping their portfolio companies raise follow-on capital from notable venture firms, including Andreessen Horowitz, Index, Kleiner Perkins, QED, Tiger Global and others.
