Fintech-Focused VC Firm Vestigo Ventures Closes Funding RoundFintech-Focused VC Firm Vestigo Ventures Closes Funding Round
Vestigo Ventures topped off its fund at $58.9 million, besting its target of $50 million.
The early-stage venture capital firm behind eight financial services companies, including fintech tax tool LifeYield, announced the close of Fund I. Vestigo Ventures topped off its fund at $58.9 million, besting its target of $50 million. The majority of the fund’s participants are corporate partners, rounded out by family offices and individual investors.
The firm’s co-founders are David Blundin, co-founder of tech provider Vestmark, Mark Casady, former CEO of LPL Financial, and Ian Sheridan, managing director. The trio sorts through at least five deals a week, said Sheridan, and they’re focused on early-stage fintech, seeing more opportunity there than in the payments space, where the majority of venture capital is flowing.
The firm relies on data in its investment process and tends to find greater value in companies focused on data, added Sheridan.
“My partners and I firmly believe incumbents in financial services need to drive down costs and vastly improve the customer experience in order to remain relevant and prosper amidst this wave of change,” said Casady, addressing the market opportunities he sees. “We back entrepreneurs who have the passion, ideas and ability to ride this wave.”
