FINTOP Capital's Second Fund Oversubscribed by $26 Million
NASHVILLE, Tenn., May 14, 2020 /PRNewswire/ -- FINTOP Capital, a venture capital firm focused on B2B SaaS (software as a service) companies in the Financial Technology (FinTech) space, announced today the successful close of FINTOP Fund II in March totaling $126 million, surpassing the firm's goal of $100 million. FINTOP Fund II is already active with six major investments including Trovata, Vouchr, myDigitalOffice, FinMkt, Digital Onboarding and Decusoft.
FINTOP Fund II is built on the success of its 2016 Fund, with nearly 80 percent of the limited partners (LPs) from Fund I joining Fund II. The $50 million Fund I made 13 investments, and two of those companies have already been sold—DealCloud to Intapp in 2018, and Solovis to Nasdaq in March of this year.
Despite the challenges early-stage companies and venture fund are facing from COVID-19, FINTOP Capital is still actively investing in companies. "Though the current climate is full of problems, many of our companies actually sell the solutions to those problems," said Joe Maxwell, managing partner at FINTOP Capital. "We are experiencing the beginning of the modernization of finance. As operators, we are well-positioned to source exciting deals and supercharge those companies with capital, a solid network and playbook to ensure they thrive and grow regardless of the new challenges companies are facing today."
FINTOP Capital relies on the management expertise of its partners, all of whom have experience operating FinTech companies of their own. As operators themselves, they excel at helping portfolio companies grow, which has led to many of the portfolio companies seeking out investments directly from FINTOP Capital for access to this knowledge base and network.
About FINTOP Capital
FINTOP Capital is a venture capital firm focused on Financial Technology (FinTech) companies with offices in Nashville, Tenn., St. Louis, Mo., and New Jersey. Run by financial leaders and operators who have built successful startups themselves, the firm understands the ups and downs of the startup world. They bring strong networks, experience and capital to entrepreneurs building B2B service-enabled SaaS and software companies in the FinTech space.
SOURCE FINTOP Capital