Beams, the FinTech focused fund created by Venture Catalyst, has closed $36mn.
In Brief:
This is the first round of investment for the fund which launched in January.
It included domestic and international investors including some banks.
The fund aims to grow to $100mn and will invest in “growth stage” FinTechs.
What does this mean?
On its way to $100mn, which it intends to invest in around 10 FinTech companies, Beams Fintech Fund is now concentrating on adding a number of experienced investment professionals.
