- Canapi Ventures, a US-based VC firm backed by 70 American financial institutions, raises $750 million in its latest fund, bringing total assets under management to over $1.4 billion.
- The funds from ‘Fund II’ will be used to support entrepreneurs and companies aiming to create a more inclusive and equitable financial ecosystem.
- In Fund I, Canapi made 20 investments in areas like fraud, financial infrastructure, lending, payments, and real estate technology, generating $40 million in annualized revenue and creating 1,500 jobs in fintech.
- Recent investments by Canapi include Nova Credit, Alloy, and Codat.
- With the new fund, Canapi plans to expand its investment focus, addressing challenges in AI governance, and climate technology, and promoting diversity among fintech founders.
- Canapi’s venture capital model connects fintech companies with its extensive network of banks and partners, creating symbiotic value in the financial services ecosystem.
- Canapi has doubled its team size since Fund I, expanded its geographic footprint with offices in New York City and San Francisco, in addition to its Washington DC headquarters.
- Gene Ludwig, Canapi’s managing partner, highlights their connectivity in Washington and with regulators, aiding companies in compliance with complex requirements and maximizing impact.
Canapi Ventures reveals new $750m fund to support US fintech entrepreneurs
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