Axios Pro: Fintech Deals
May 04, 2022
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Happy hump day, Fintech buds.

Situational awareness: Trading and crypto giant Jump is under fire for launching an aggressive legal campaign against a Carl Sagan fan who holds the wormhole.com web address.

1 big thing: Fintech's funding spigot runneth over

Illustration: Aïda Amer/Axios

Aquiline Capital Partners has closed on $365 million to invest in fintech startups through the second iteration of its venture fund, Aquiline Technology Growth (ATG) Fund II.

  • The funding nearly doubles the capital the team has to deploy from the previous fund, and comes in above the firm's $300 million target.

Why it matters: Despite a retrenchment in the public markets, VCs and LPs — particularly those in the financial services industry — remain bullish on fintech.

Details: Aquiline has private equity, credit financing and venture teams, but ATG is focused on investing in early-stage fintech, insurtech and related enterprise software startups.

  • The firm looks for startups with at least $1 million in ARR and makes equity investments between $3 million and $25 million.
  • It takes minority positions and will lead or co-invest, depending on the opportunity, and has made 27 venture investments through two funds to date.
  • Aquiline's investments have included Hippo and Artivest.

Between the lines: Given its relationships in the financial services and insurance industries, the firm is focused on identifying companies in the B2B space solving pain points for those markets.

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