A group of three former managing directors of Amex Ventures announced that it managed to raise funds for $ 78 million for the debut fund to support startups in the fintech industry.
Vesey Venture was founded by Dana Eli-Lorch, Lindsay Fitzgerald, and Julia Huang. The Fund will provide investments to those companies that intend to operate in the fintech industry. In this case, it means assistance at the early stages of the development of firms. The fund intends to pay special attention to those companies that can establish partnerships with financial institutions.
Eli-Lorch, Fitzgerald, and Huang have almost a decade of experience investing together. They supported companies like Melio, Plaid, Stripe, and Trulioo. They also contribute to the partnerships of more than 100 startups with institutions that provide financial services.
Vesey Ventures states that within the framework of a single solution, all the best aspects of the existing experience will be combined, including deep expertise in the field of traditional financial services and a unique understanding of the startup ecosystem. The experience will allow to identify, intelligently finance, and successfully scale the great companies of the new generation in time.
Vesey Ventures is based in Israel and the USA. The Fund has already sent investments to Coast, Cyrus, Grain, Equi, and Proper.
The founders of Vesey Ventures say that financial companies still have the resources without which the successful development of startups is impossible. For the success of start-up firms, infrastructure, capital, a license, and a customer base are necessary. The founders of the fund say that fintech companies have achieved significant results precisely through interaction with larger players.
Vesey Ventures was created to give portfolio firms a competitive advantage at an early stage. One of the goals of the foundation is to narrow the gap between those who create advanced technologies and those who need them. Partnerships can be a decisive factor in the success of representatives of the fintech industry.
As we have reported earlier, UK FinTechs Seek Government Support After SVB Collapse.