Venture business Illuminate Financial, which invests in FinTech, has closed its latest fund worth $100mn.
In Brief:
The fund has seen investment from Barclays, JPMorgan, Deutsche Boerse and IHS Markit.
Illuminate has invested in many FinTech verticals including cryptocurrency and wealth management.
The fund has closed after two years.
What does this mean?
Founder Mark Beeston commented that the fundraising had been a “marathon” due to the climate over the past two years being impacted by Brexit and then Covid-19. However, seven investments have already been made with the new fund.
