Anthemis Group, a UK-based venture capital and advisory firm focusing on financial services technology, reached the $60m first close of its inaugural fund yesterday with backing from financial services provider UniCredit.
UniCredit and the multilateral European Investment Fund are anchor investors in Anthemis Venture Fund I, which Anthemis expects to close at $100m. The fund’s investment team is being led by Sean Park, Amy Nauiokas and Yann Ranchere.
Founded in 2010, Anthemis has backed 33 digital finance technology companies so far, including goal-based online investment company Betterment, climate change protection platform The Climate Corporation and mobile wallet app developer Simple.
Anthemis Venture Fund I will target digitally native fintech startups in North America and Europe, investing at pre-seed, seed and series A stage. It represents the first dedicated fund for the firm, which has raised $285m in capital from institutional investors in 2016 so far.
Marco Berini, UniCredit’s head of group innovation, said: “The Anthemis team is deeply embedded in the fintech industry and their proven expertise in finding new startups will add great value to our investment process.
“Our industry is constantly changing, and we want to keep pace with innovation so that we can create long-term value for our clients and stakeholders.”