Despite a bear market that has seen the likes of bitcoin and ether fall by over 50% since the turn of the year, it seems like venture capital investment in crypto hasn’t lost its sheen this year. London-based asset management and technology platform Fasanara Capital has announced the closing of its $350 million VC fund dedicated to finding the next-generation of global fintech and Web3 startups.
The company had launched its third fund in May this year. Fasanara Capital has more than $3.5 billion AUM and helps bridge the gap between credit-starved SMEs and European institutional investors looking to support new technologies in ways that are sustainable, scalable and empowered by data.
Fasanara’s third venture fund aims to capitalise on the increasing level of innovation it sees from its vantage point as one of Europe’s leading digital lenders and trader in digital assets, including crypto. It currently has a portfolio of 29 startups and scaling tech businesses, including Twig, Scalapay, and Grover.
Existing investors in Fasanara Capital include one of Europe’s biggest pension fund, European Investment Fund and some of Europe’s biggest insurance companies. The fund manager estimates that across its fintech portfolio, it will see total community volumes of lending reach $45 billion this year.
Francesco Filia, CEO of Fasanara Capital said: “The European asset management industry is on the brink of a huge tech-led transformation. 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 and have had the opportunity to invest in some of the preeminent digital technology startups in the market.”
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