07 December 2023

FinTech-focused Canapi Ventures raises $750mn

Written By FinTech Alliance

FinTech-focused Canapi Ventures raises $750mn

Fund II represents a 15% increase in funds and a near-doubling of the Canapi Alliance from firm's Fund I

 

In brief:

- The FinTech venture capital fund backed by nearly 70 financial institutions and strategic investors across the United States, today announced the raise of a $750 million Fund II

- This latest raise brings Canapi's total assets under management to over $1.4B and will allow the Fund to continue to support the most innovative entrepreneurs and companies looking to create a sounder, more inclusive and equitable financial ecosystem

- In Fund I, Canapi made 20 investments across key verticals, including fraud and identity, financial infrastructure, lending and credit, payments, and real estate technology

- Canapi has helped to facilitate nearly 100 partnerships between its LPs and portfolio companies – including such names as Alloy, Built, Thoropass, and Greenlight.

 

What does this mean?

"Our venture capital model connects high-quality fintech companies to our extensive network of banks and strategic partners, creating strong symbiotic value in this important ecosystem," said Canapi Managing Partner, Gene Ludwig. "Our connectivity in Washington and to its regulators has allowed us to help our companies better understand and comply with complex requirements while building alongside founders to maximise impact." Canapi Managing Partner Chip Mahan added, "We're proud to work shoulder to shoulder with our teams, helping them to best serve their customers and their customers' customers."

 

Read more here.

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