500 Startups Creates Pooled Investment Fund for Fintech

500 Startups has filed a Form D 506(c) for a pooled investment fund targeting Fintech. The 500 Fintech LP is seeking $25 million according to a filing with the Securities and Exchange Commission.

500 Startups and its co-founder Dave McClure is one of the most prominent venture capitalists / accelerators in the world. The Silicon Valley based operation has committed over $350 million in early stage investments. Over 1,800 companies have benefited from both funding and support around the world since the global seed fund was launched in 2010.  Some of the better known investments include Twilio, Credit Karma, Maker Bot and more. 500 Startups has more than 150 people scattered around the world assisting entrepreneurs.  500 Startups has created sector funds in the past, typically with a regional focus. While 500 Startups has been active in the Fintech sector this we believe this is the first dedicated Fintech fund.

Global investments in the Fintech space was off to a “quiet start” during Q1 of 2017, according to KPMG. Total investments came in at $3.2 billion – down from the quarterly high of $25 billion in Q4 of 2015. The most observers see this as a natural pause instead of a sector trend as the second wave of financial innovation starts to challenge traditional finance. This past week saw one of the largest Fintech investments ever as SoftBank committed $1.6 billion into One97 Communications, the parent company of Paytm.

 


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