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FinTech Growth Fund (FGF) is a UK-based venture capital organization established in 2023, focusing exclusively on the financial technology sector. It was launched as a direct response to the Kalifa Review, which identified a £2 billion annual funding gap for growth-stage fintech companies in the UK. The fund is operated by UK FinTech Growth Partners LLP and is backed by major UK financial institutions, including Barclays, NatWest, Mastercard, and the London Stock Exchange Group.
As the first specialist growth-stage fund dedicated to UK fintechs, FGF aims to facilitate the growth of these businesses through strategic investments. The fund has an aspirational target size of £1 billion, aligning with the recommendations of the Kalifa Review. It began deploying capital in Q4 2023 and is positioned to play a significant role in the UK fintech landscape.
FinTech Growth Fund invests in financial technology companies that demonstrate substantial growth potential, specifically targeting businesses in the Series B to pre-IPO stages. The fund offers check sizes ranging from £10 million to £100 million per initial investment, with a deal cadence of 4 to 8 investments per year. The investment strategy includes equity and equity-like securities, focusing on UK-incorporated or headquartered fintechs.
The fund's mission is to help UK fintechs scale into world-class global organizations. It provides tax-efficient funding options tailored for individual investors, financial advisers, and institutional investors. FGF engages in strategic partnerships with investors and sector bodies, including regulators and the government, to enhance the growth trajectory of its portfolio companies.
As of now, FinTech Growth Fund has not publicly announced specific portfolio companies. However, the fund has indicated a strong pipeline and began deploying capital in Q4 2023. The absence of publicly named investments is typical for newly launched funds, especially those that are in the early stages of capital deployment.
Lord Philip Hammond — Advisory Board Chair; former UK Chancellor of the Exchequer (2016-2019), bringing significant political and financial expertise to the fund.
Kaushalya Somasundaram — Senior executive; previously Executive Director/UK Head of Payments at Square and Managing Director/Global Head of FinTech Partnerships at HSBC, with extensive experience in fintech and payments.
Phil Vidler — Executive; CEO of FinTech Alliance, formerly Group Strategy Director at Pollinate and Head of Global Markets at HM Treasury, contributing strategic insights and industry connections.
Details on how to pitch to FinTech Growth Fund are not publicly available. Startups are encouraged to check the fund's website for any updates regarding application processes or preferred channels for submissions.
As of the latest updates, FinTech Growth Fund began deploying capital in Q4 2023. The fund has not yet made any public investment announcements, but it is expected to be active in the market as of 2024-2025.
Q?
What are the investment criteria for FinTech Growth Fund?
A FinTech Growth Fund focuses on UK-based financial technology companies that are in the growth stage, specifically those at Series B through pre-IPO stages. The fund looks for businesses with substantial growth potential and offers check sizes between £10 million and £100 million.
Q?
How can startups apply or pitch to FinTech Growth Fund?
A Specific contact information or application process details are not publicly available. Startups interested in pitching should monitor the fund's website for updates or announcements regarding application procedures.
Q?
What makes FinTech Growth Fund different from other venture capital firms?
A FinTech Growth Fund is the first specialist growth-stage fund dedicated exclusively to UK fintechs, addressing a significant funding gap identified in the Kalifa Review. The fund is backed by major UK financial institutions, providing not only capital but also strategic support and industry connections.
Q?
What is the geographic scope of FinTech Growth Fund?
A The fund focuses exclusively on UK-based fintech companies, aiming to support the growth of the financial technology sector within the United Kingdom.
Q?
What is the fund size and check size for investments?
A FinTech Growth Fund has an aspirational target fund size of £1 billion and offers check sizes ranging from £10 million to £100 million per initial investment.
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