13books Capital raises £121 million fintech fund


Amid a challenging fundraising environment, London VC 13books Capital has closed a new £121 million fund to invest in the founders building tomorrow's fintech businesses.

Launched in 2019, 13books Capital (formerly known as Element Ventures) has successfully invested in 19 fintech companies, including Roadzen, Hepster, Coincover, Runa, Billhop, Thirdfort, Duco, nCino, Fenergo and ErisXFor the new fund, the firm welcomes two new institutional LPs, British Patient Capital, which contributed £25 million, and KfW Germany, who join Isomer Capital and IPGL on the Fund’s Limited Partner Advisory Committee. The fund has already made five investments, incuding a Series A in Aria, an API-enabled embedded invoicing platform, and Ramify, a digital wealth management platform.Going forward, the new fund will focus on investments from Seed to Series A stages, with ticket sizes ranging from £1-7 million.Michael McFadgen, partner at 13books Capital, states: "It is clear that European fintech entrepreneurs desire a sector-focused, founder-focused venture platform that has meaningfully impactful networks across the industry. We believe European fintech is entering a golden period, and we thank our LPs and founders for their trust and look forward to supporting the next generation of pioneering fintech entrepreneurs."


By on Wed, 17 Jul 2024 08:51:00 GMT
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