TTV Capital closes $250 million fund VI to invest in early-stage fintech companies
The largest fund in the firm’s twenty-three-year history will include core and exploratory investments in payments, banking, embedded finance and more
ATLANTA, March 17, 2023 /PRNewswire/ — TTV Capitalan early-stage fintech venture capital firm, announced today that it has closed its sixth fund at 250 million dollars, the largest since the firm was founded over two decades ago. The collection, as originally directed 150 million dollarssaw overwhelming interest and was oversubscribed by 100 million dollars. Fund VI includes both new and existing limited partners consisting of institutional and strategic investors, as well as family offices.
“Fund VI represents a turning point for all of us at TTV Capital,” said Gardiner Garrard, co-founder and managing partner of TTV Capital. “23 years ago, we bet early on how the technology behind financial services would develop. Back then we didn’t call it ‘fintech’ – we just started investing in applications that were built on the internet. We saw the digital transformation that was happening, and we knew we wanted to be a part of it. And now, as we look ahead, we remain committed to finding the next class of enduring businesses that will shape the future of finance.”
In 2022 alone, TTV Capital made 18 investments in early-stage fintech companies across payments, banking, investment, cybersecurity, Web3 and embedded finance, with an average initial check size of 2 million dollars to 7 million dollars. The firm also has an exploration fund for investments from $250,000. To date, TTV Capital counts more than 100 financial technology companies in its portfolio, and seven of these have reached unicorn status.
“Founders often tell us that our relationships, connections and deep industry knowledge are most helpful to them as they grow their business,” said Sean Banks, Partner in TTV Capital. “It’s a privilege to do what we do, and we’re particularly proud of the reputation we’ve built as a founder-friendly firm. We believe our fintech expertise and years of experience in venture capital are the reasons we’ve been able to drive strong returns for our limited partners amid various economic cycles.”
TTV Capital is one of the first and only early-stage fintech funds focused exclusively on investing in companies in the financial services ecosystem. The firm has led early stage investments in several category creators, including Bill.com, Shopkeep, Green Dot, SmartAsset and others. TTV Capital is also one of the largest – and longest-lived – venture companies in Atlantaand has supported several successful ones Atlanta-based companies, including Greenlight, Cardlytics, Greenwood, Carputty, Featurespace and Instant.
About TTV Capital
Founded in 2000, TTV Capital is one of the longest-running venture capital firms investing exclusively in early-stage fintech companies. We create lasting value for our investors, founders and teams by supporting our portfolio companies at all stages of growth. Our distinct approach combines deep industry knowledge with connections, resources and founder-friendly relationships. TTV’s portfolio includes more than 100 market leaders and emerging pioneers across payments, banking, investment, crypto, and embedded economy. The firm has been named to Inc.’s list of Founder Friendly Investors, top ten on the Founder’s Choice VC list and Institutional Investors Fintech Finance 40.
TTV Capital is headquartered in Atlanta and has a presence in the Bay Area. For more information, visit www.ttvcapital.com.
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SOURCE TTV Capital