FTVentures Raises New $423 Million Venture Capital Fund
SAN FRANCISCO, CA – Financial Technology Ventures (FTVentures), a San Francisco-based leading private equity investor in financial technology, announced that it has closed FTV II, a $423 million venture capital and private equity fund. FTV II will enable FTVentures to continue its strategy of investing in companies that develop technologies that are transforming the financial services industry. The investors in FTV II are 39 of the world’s leading financial institutions and include AIG, Bank of America Corporation, BNP Paribas, Charles Schwab, Credit Suisse Group, Deutsche Bank, Development Bank of Singapore (DBS), GE Capital, HSBC Holdings, Key Corporation, National City Corporation, Skandinaviska Enskilda Banken (SEB), Standard Chartered Bank, U.S. Bancorp, and Wells Fargo.
“Our success in raising FTV II can be attributed to the strong working relationships we have with our institutional limited partners,” said James C. Hale III, Senior Managing Member at FTVentures. “The strength of the communication network between our partners, our portfolio companies and FTVentures has enabled us to create an advantageous information product. This communication link has proven invaluable during these demanding, uncertain times. The team at FTVentures greatly appreciates the vision and commitment of all of our investors.”
“The collective experience of the FTVentures team in financial technologies is impressive. FTVentures is extremely diligent in their investment decision-making,” explained James D. Dixon of Bank of America Strategic Alliances and Investments. “We have also come to consistently appreciate the steady stream of relevant information that FTVentures sends our way. The breadth and depth of the FTVentures network within financial services operating companies would be difficult to find anywhere else.”
Founded in 1998, FTVentures was the first venture capital firm in the U.S. to primarily invest in technologies that benefit the financial services industry. FTVentures now has more than $623 million in total capital under management and remains the primary investment firm for technology companies that develop products and services applicable to financial services. It invests primarily in mid-to-late stage private companies with developed technologies in three key areas: software and infrastructure solutions providers, electronic commerce enablers and payment sector technologies.
FTVentures-backed companies include 7-24 Solutions, Financial Engines, Corillian, Managed Objects, Caplin Systems, Xign, e-Security, PAYTRUST, CapitalStream, E-LOAN, Synchrologic, ValuBond Securities, ValiCert, CrossLogix, and ClearCommerce. FTVentures investors are 39 of the world’s leading financial institutions and include AIG, Bank of America Corporation, BNP Paribas, Charles Schwab, Credit Suisse Group, Deutsche Bank, Development Bank of Singapore (DBS), GE Capital, HSBC Holdings, Key Principal Partners, National City Corporation, Skandinaviska Enskilda Banken (SEB), Standard Chartered Bank, US Bancorp and Wells Fargo.
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