London-based 13books Capital, a venture capital firm investing at the late Seed and Series A stage, announced that it has closed a £121M (approximately €144M) fund aimed at supporting the next-gen fintech disruptors, despite a challenging fundraising environment.
The new fund is backed by British Patient Capital, Kreditanstalt für Wiederaufbau (KfW), Isomer Capital, and IPGL.
What to expect from the new fund?
The £121M fund will allow 13books Capital to support top founders in developing future financial technologies. Investments will focus on Seed to Series A stages, with ticket sizes ranging from £1M to £7M (approximately between €1.19M to €8.33M).
To date, 13books Capital has backed 19 fintech companies, with investments including Roadzen, Hepster, Coincover, Runa, Billhop, Thirdfort, Duco, nCino, Fenergo, and ErisX.
Founders benefit from the firm’s network of 34 “world-class” founders and industry leaders, including Limited Partners (LPs), who offer entrepreneurial experience, connectivity, and expertise.
The firm also welcomes two new institutional Limited Partners (LPs), British Patient Capital and KfW Germany, who join Isomer Capital and IPGL on the Fund’s Limited Partner Advisory Committee (LPAC).
The fund has made a “strong” start with investments in five companies over the past six months. These include Series A investments in Aria, an API-enabled invoicing platform, and Ramify, a digital wealth management platform, both poised to lead in Europe’s digital financial services.
Michael McFadgen, Partner at 13books Capital, says, “It is clear that European fintech entrepreneurs desire a sector-focused, founder-focused venture platform that has meaningfully impactful networks across the industry.”
“We believe European fintech is entering a golden period, and we thank our LPs and founders for their trust and look forward to supporting the next generation of pioneering fintech entrepreneurs.”
13books has also promoted Meera Bissoondeeal, Nitya Gupta, and Aleksandra Tyurina to Principal, recognising their contributions and performance.
Brief about 13books Capital
Launched in 2019, 13books Capital (formerly Element Ventures) partners with Europe’s top fintech founders, focusing on late Seed and Series A investments.
The firm supports startups poised to disrupt the financial technology sector by providing capital and strategic guidance to accelerate growth and market expansion.
For fintech entrepreneurs, 13books Capital offers tailored investment solutions and expertise to scale globally.
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