Amid a challenging fundraising environment, London-based VC firm 13books Capital has successfully closed a new £121 million fund aimed at supporting founders who are building the fintech businesses of tomorrow.
Founded in 2019 and previously known as Element Ventures, 13books Capital has already invested in 19 fintech companies, including notable names such as Roadzen, Hepster, Coincover, Runa, Billhop, Thirdfort, Duco, nCino, Fenergo, and ErisX.
For this latest fund, the firm has welcomed two new institutional limited partners: British Patient Capital, which contributed £25 million, and KfW Germany. They join Isomer Capital and IPGL on the Fund’s Limited Partner Advisory Committee.
The new fund has already made five investments, including a Series A funding round for Aria, an API-enabled embedded invoicing platform, and Ramify, a digital wealth management platform.
Looking ahead, the fund will concentrate on investments ranging from Seed to Series A stages, with ticket sizes between £1-7 million.
Michael McFadgen, partner at 13books Capital, remarked: “It is clear that European fintech entrepreneurs desire a sector-focused, founder-focused venture platform that has meaningfully impactful networks across the industry. We believe European fintech is entering a golden period, and we thank our LPs and founders for their trust. We look forward to supporting the next generation of pioneering fintech entrepreneurs.”