Fasanara Capital, a London-based asset management firm, has announced a $350 million investment fund to support fintech and cryptocurrency startups.
First crypto fund
The firm, which manages $3.5 billion in assets, focuses on early-stage startups in the fintech and crypto sectors, a change from the firm’s last two venture funds, each worth $550 million and solely focused on fintech. Still, its primary focus will be fintech, with the fund investing roughly 60% of total cash in fintech startups and the remainder in crypto and web3 firms.
From $350 million, According to the firm, around $100 million of that money has already been raised. In terms of specific areas in which the firm is interested, it hopes to fund startups focusing on those establishing infrastructure and trading platforms.
The firm has already invested in two web3 startups: Twig, a London-based fintech that plans to develop a blockchain-based payment infrastructure, and Scuti, a gaming store looking to issue a gaming reward token.
What is Fasanara Capital?
Fasanara Capital, founded in 2011, is a fintech investment firm becoming increasingly focused on digital assets and lending technology. It is backed by the European Investment Fund, a Luxembourg-based financial institution that arranges small business loans through private banks and funds. The Financial Conduct Authority regulates the company in the United Kingdom.
ScalaPay, an Italian payment service provider, and Grover, a German smartphone and subscription service company, are two of Fasanara’s portfolio companies that have recently achieved unicorn status. A unicorn in the startup world is a company with a valuation of $1 billion or more.