A group of three former managing directors from Amex Ventures has raised $78 million for their inaugural fund focused on supporting early-stage fintech startups.
Vesey Venture, founded by Dana Eli-Lorch, Lindsay Fitzgerald, and Julia Huang, will target investments in early-stage fintech and enabling technology companies. The fund aims to foster partnerships between these startups and established financial institutions.
With nearly a decade of joint investing experience, Eli-Lorch, Fitzgerald, and Huang have previously supported companies such as Melio, Plaid, Stripe, and Trulioo, and have facilitated over 100 partnerships between startups and traditional financial services organizations.
Vesey Ventures promises to leverage their strong backgrounds in traditional financial services and their understanding of the startup ecosystem to identify, fund, and scale the next generation of innovative companies.
Operating out of the US and Israel, Vesey has already made several investments, including in Coast, Cyrus, Grain, Equi, and Proper.
The founders state, “Financial incumbents still control essential components that startups need to thrive — infrastructure, capital, licenses, and customers. We’ve seen that the most successful fintech companies often emerge through collaborations with these incumbents.
“We established Vesey Ventures to provide our portfolio companies with a competitive advantage from the start by connecting those in need of new technologies with those creating them. Partnerships can be a transformative aspect of a fintech company’s development, and we have an unmatched record of facilitating these connections for our founders.”
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