First crypto fund
The company, which manages $3.5 billion in assets, focuses on early-stage startups in the fintech and crypto sectors, a change from the company’s last two venture funds, each worth $550 million and solely focused on fintech. Still, its primary focus will be fintech, with the fund investing around 60% of total cash in fintech startups and the rest in crypto and web3 businesses.
Of $350 million, according to the firm, about $100 million of that money has already been raised. In terms of specific areas the company is interested in, it hopes to fund startups with a focus on those that establish infrastructure and trading platforms.
The company has already invested in two web3 startups: Twig, a London-based fintech that plans to develop blockchain-based payments infrastructure, and Scuti, a gaming store seeking to issue a gaming reward token.
What is Fasanara Capital?
Fasanara Capital, founded in 2011, is a fintech investment firm with an increasing focus on digital assets and lending technology. It is backed by the European Investment Fund, a Luxembourg-based financial institution that lends to small businesses through banks and private funds. The Financial Conduct Authority regulates the company in the UK.
ScalaPay, an Italian payment service provider, and Grover, a German smartphone and subscription services company, are two of Fasanara’s portfolio companies that recently achieved unicorn status. A unicorn in the startup world is a company valued at $1 billion or more.