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Fiat Ventures is a venture capital firm founded in 2021, based in San Francisco, California. The firm emerged as an extension of Fiat Growth, a fintech consultancy established in 2018. Fiat Ventures launched its debut fund in November 2022, raising $25 million to invest in early-stage fintech companies. The firm is dedicated to enhancing financial access and inclusion, specifically targeting the 90% of Americans underserved by traditional financial services.
As of now, Fiat Ventures has invested in over 35 companies, demonstrating a strong commitment to diversity with 54% of its portfolio comprising underrepresented founders. The firm is backed by Invesco as its anchor limited partner, which provides a solid foundation for its investment activities. Fiat Ventures emphasizes a consultancy-first model, leveraging operational insights to support its portfolio companies effectively.
Fiat Ventures specializes in early-stage investments within the fintech sector, focusing on pre-seed, seed, and seed+ (extension) stages. The firm’s investment strategy is centered on financial technology, financial access, and financial inclusion. It seeks to partner with startups that are building solutions for the 90% of Americans lacking adequate financial management tools.
The firm invests in various fintech sub-sectors, including fintech infrastructure, consumer fintech, insurtech, and embedded finance. Fiat Ventures typically targets ownership stakes of 2-2.5% per investment, providing not only capital but also operational support through a network of over 250 industry experts. This hands-on approach allows them to assist portfolio companies in achieving significant growth.
Fiat Ventures has built a diverse portfolio of over 35 companies in the fintech space. Notable portfolio companies include:
Alex Harris - Co-Founder & General Partner. Formerly the paid growth and partnerships lead at Chime, Alex is a UC Berkeley alum with extensive experience in fintech.
Drew Glover - Co-Founder & General Partner. Previously the VP of Marketplace at Steady, Drew has helped companies like Root and JP Morgan Chase bring services to market. He is also a UC Berkeley Division-1 football alum.
Marcos Fernandez - Managing Partner. Marcos has a background in go-to-market strategy at SoFi and business development at Ripple, bringing valuable expertise to the firm.
Gerard Fane - Managing Partner. Gerard's experience includes various roles in fintech, contributing to the firm's operational insights.
Victor Colombo - SVP of Partnerships. Victor plays a key role in building relationships within the fintech ecosystem.
Kristin Manoogian - SVP of Performance & Revenue. Kristin focuses on driving growth and revenue for portfolio companies.
Katie Stoller - Head of Influencer Marketing. Katie leads initiatives to enhance brand visibility for portfolio companies.
Peter Garea - Director of Partnerships. Peter is instrumental in fostering strategic partnerships for the firm.
Todd Dack - Creative Director. Todd oversees creative strategies for portfolio companies.
Arber Spahiu - Director of Performance. Arber focuses on optimizing performance metrics for portfolio companies.
JP Grant - Director of Operations. JP manages operational aspects of the firm and its portfolio.
To pitch Fiat Ventures, founders should submit their proposals through the firm's website at fiat.vc. The pitch deck should include a clear overview of the business model, market opportunity, and how the startup addresses financial inclusion. Founders are encouraged to provide detailed information about their team and any traction they have achieved.
Response times may vary, but founders can expect feedback within a few weeks. Warm introductions are preferred, especially from individuals within the firm's network.
Fiat Ventures launched its debut fund in November 2022, raising $25 million to invest in early-stage fintech companies. The firm has been featured in various media outlets, including a profile in TechCrunch and BusinessWire announcing the fund launch.
In 2024, the firm was highlighted in a profile by the SF Examiner, which covered its fintech-focused strategy and commitment to diversity in investing. As of now, there have been no announcements regarding a second fund.
What are Fiat Ventures' investment criteria?
Fiat Ventures focuses on early-stage fintech companies, particularly those addressing financial access and inclusion. They look for startups that target the 90% of Americans underserved by traditional financial services.
How can I pitch to Fiat Ventures?
Founders can pitch Fiat Ventures through their website at fiat.vc. It is recommended to include a clear business model, market opportunity, and how the startup addresses financial inclusion in the pitch deck.
What makes Fiat Ventures different from other VCs?
Fiat Ventures operates with a consultancy-first model, providing operational support and insights from a network of over 250 industry experts. This approach allows them to offer more than just capital to their portfolio companies.
What is the typical check size for investments?
Fiat Ventures typically targets ownership stakes of 2-2.5% per investment, with check sizes varying based on the stage of the company and specific needs.
What is the geographic focus of Fiat Ventures?
The firm primarily invests in companies based in the United States, focusing on the fintech sector.
What is the firm's approach to diversity in investing?
Fiat Ventures has a strong diversity mandate, with 54% of its portfolio comprising underrepresented founders, including 22% female founders and 32% minority founders, significantly higher than industry averages.
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