Largest fund in the firm’s twenty-three year history will include core and exploratory investments in payments, banking, embedded finance, and more
TTV Capital, an early-stage fintech venture capital firm, announced that it has closed its sixth fund at $250 million, the largest since the firm was founded over two decades ago. The fundraise, which originally targeted $150 million, saw overwhelming interest and was oversubscribed by $100 million. Fund VI includes both new and existing limited partners comprising institutional and strategic investors, as well as family offices.
“Fund VI represents an inflection point for all of us at TTV Capital,” said Gardiner Garrard, Co-Founder and Managing Partner at TTV Capital. “Twenty-three years ago, we took an early bet on how the technology behind financial services would evolve. Back then, we didn’t call it ‘fintech’ – we just started investing in applications that were being built on the internet. We saw the digital transformation that was happening and we knew we wanted to be part of it. And now, as we look ahead, we’re still committed to finding the next class of enduring businesses that will shape the future of finance.”
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In 2022 alone, TTV Capital made 18 investments in early-stage fintech companies across payments, banking, investing, cybersecurity, Web3, and embedded finance, with an average initial check size of $2 million to $7 million. The firm also has an exploratory fund for investments starting at $250,000. To date, TTV Capital counts more than 100 financial technology companies in its portfolio, and seven of those 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 businesses,” said Sean Banks, Partner at TTV Capital. “It’s a privilege to do what we do, and we’re especially proud of the reputation that we’ve built as a founder-friendly firm. We believe our fintech expertise and years of experience in venture capital are the reasons why we’ve been able to drive strong returns for our limited partners amid different economic cycles.”
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TTV Capital is one of the first and only early-stage fintech funds focused exclusively investing in companies in the financial services ecosystem. The firm has led early investments in multiple category-creators, including Bill.com, Shopkeep, Green Dot, SmartAsset, and others. TTV Capital is also one of the largest – and longest-running – venture firms in Atlanta, and has backed multiple successful Atlanta-based companies, including Greenlight, Cardlytics, Greenwood, Carputty, Featurespace, and Instant.
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