FinTech Collective closes $250 million fund with new DeFi strategy

FinTech Collective, a venture capital firm investing across fintech and digital assets, has raised $250 million in fresh capital.

$200 million will be poured into the firm’s existing early-stage strategy, which targets fintech and digital assets, with $50 million assigned to a newly formed Decentralized Finance (DeFi) fund.

According to an announcement, the DeFi fund will invest in both equity and tokens linked to “open-source, composable financial protocols and applications being built on smart-contracting platforms such as Ethereum.”


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Investors in the latest raise include a range of asset managers, such as The State of Wisconsin Investment Board, The Teachers’ Retirement System of the State of Illinois, Greenspring Associates, and StepStone Group. DRW and British billionaire Alan Howard also invested.

The raise brings FinTech Collective’s total assets under management to more than $500 million. Founded in 2012, the company has invested in 53 companies globally to date. Its big exits include the sales of Quovo and Reorg Research, and the upcoming SPAC-merger of MoneyLion.

Managing partner Brooks Gibbins said in a statement that Fintech Collective was “among the first venture capital firms to recognize the fintech opportunity resulting from the global financial crisis.”

“We believe the next 30 years represent an unprecedented period when every facet of financial services will be deconstructed and reconstructed, and our deep global roots, particularly in the New York and European ecosystems, allows us to take advantage of this tremendous opportunity,” he added.

About Author

Ryan Weeks is deals editor at the The Block, focused on fundraising, M&A and institutional trends in the crypto space, among other things. He is particularly interested in investigative work — so please send tips! Ryan previously worked at Financial News, Dow Jones as a fintech correspondent in London. Prior to that, he wrote for several different publications, including Sifted, AltFi and Wired. Beyond journalism, Ryan is a keen reader and writer. He enjoys all things active, especially running, rugby, climbing and tennis.