Barclays backs Illuminate investment vehicle


Illuminate Financial, the London-based venture capital firm specializing in FinTech investments, has announced an extension to its partnership with Barclays.

Under the agreement, Barclays will become a limited partner in Illuminate Financial’s latest venture capital strategy, according to a Wednesday, October 26. Press release.

The bank was an investor in Illuminate Financial’s previous $100 million FinTech fund in 2019.

“We are delighted to continue our longstanding partnership with Illuminate Financial,” said Barclays Co-Head of Principal Investments. Andy Chalis says in the ad. “This investment will allow Barclays to play an even more meaningful role in the financial market innovation ecosystem.”

Barclays has been an active investor in FinTech in recent years and has provided capital to several venture capitalists in the past.

In February, the bank partnered with entrepreneur Rainmaking to launch a startup academy and other projects focused on training FinTech founders.

See more : Barclays partners with Rainmaking to help FinTech founders

To date, Illuminate Financial has invested in more than 30 late-stage to Series A funding companies. Many of them are FinTechs operating in the digital asset space such as the copper.co and Curv, which was acquired by Paypal last year.

Read also: PayPal Finalizes Deal to Acquire Crypto Security Startup Curv

Illuminate Financial typically takes a 5% to 20% stake in its investments, the company says on its website.

“We have been privileged to work with Barclays for several years and to welcome them back as an investor for the second time in our venture capital strategy,” said the founder and managing partner of Illuminate Financial. Marc Beeston said in the press release.

He noted that Illuminate Financial’s investors “represent a unique combination of global financial institutions, extending the company’s deep domain expertise and go-to-market value to our portfolio.”

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