After backing two of Europe’s fintech unicorns, London-based asset management and technology platform Fasanara Capital has unveiled $350 million VC fund. The newly launched fund aims to find the next generation of Europe’s digital lenders and traders in digital assets, including crypto. According to the company, the firm has already held a first close of $100 million.
The platform had earlier raised about $550 million across two venture funds to support tech companies, including BNPL company Scalapay and consumer electronics rental startup Grover. The current investment marks the first time the company has opened its venture funds to external investors.
Investment in European fintechs is booming with 750 financing deals for European fintech companies in 2021, adding up to nearly €26 billion. Additionally, four out of Europe's top 10 most valuable tech companies in 2021 were fintechs. Europe’s VCs invested a record $2.2 billion into cryptocurrency and DeFi startups in 2021.
Betting big on the sector, the platform has funded 29 companies at seed to Series A across Europe in three years of venture investing. Francesco Filia, CEO, Fasanara Capital said: “The European asset management industry is on the brink of a huge tech-led transformation and we have been at the forefront of this change, both as a digital lender and trader of alternative assets. Over the past eleven years we have developed a deep understanding of the fintech ecosystem, have financed more than $30 billion of digital loans and receivables.”