Fintech
13books Capital raises £121m from fintech fund
In a challenging fundraising environment, London-based VC 13books Capital has closed a new £121m fund to invest in founders building the fintech companies of the future.
Launched in 2019, 13books Capital (formerly known as Element Ventures) has successfully invested in 19 fintech companies, including Roadzen, Hepster, Coincover, Runa, Billhop, Thirdfort, Duco, nCino, Fenergo, and ErisX
For the new fund, the firm welcomes two new institutional LPs, British Patient Capital, which has contributed £25m, and KfW Germany, which join Isomer Capital and IPGL on the fund’s Limited Partner Advisory Board.
The fund has already made five investments, including a Series A in Aria, an API-based integrated invoicing platform, and Ramify, a digital wealth management platform.
Going forward, the new fund will focus on investments from the Seed to Series A stage, with ticket sizes ranging from £1m to £7m.
Michael McFadgen, Partner at 13books Capital, says: “It is clear that European fintech entrepreneurs want an industry- and founder-focused venture capital platform with impactful networks across the industry. We believe European fintech is entering a golden age and we thank our LPs and founders for their trust and look forward to supporting the next generation of pioneering fintech entrepreneurs.”