FinTech News
Vera Equity Announces $20 Million Fund to Invest in Startups
Financial technology companies looking for investment have a new potential partner to turn to. This week, the venture capital firm Vera Equity announced that it has raised a $20 million fund. With this capital, the company will invest in early-stage FinTech startups. While the announcement of the fund has arrived now, Vera has already invested in a number of startups. This includes participating in StellarFi’s $15 million Series A in March. In total, the firm says it’s backed 20 teams to date.
Vera Capita was co-founded by former Venmo COO Michael Vaughan, True Search partner Jonathan Pomeranz, and True co-CEOs Joe Riggione and Brad Stadler. Vera’s anchor investor is True, the global platform of innovative talent management products and executive search services.
Commenting on the firm’s vision and advantages, Vaughan said in a statement, “Our team’s backgrounds and networks allow Vera to provide founders with differentiated and highly valuable talent introductions and operational guidance. We identify attractive investment opportunities through our confidence in the team and their product vision, and partner with our founders as they get off the ground, build initial traction and prepare for their next institutional round.”
Stadler added, “The key to success in early stage entrepreneurship is having the right team in place to craft and execute on the vision. With our first fund we have been able to leverage True’s existing networks in the global technology, financial services and FinTech spaces to prove out a playbook that we hope will be repeatable across other sectors where True has a presence.”
Interestingly, while FinTech funding is still largely dominated by “megarounds” ($100 million or more), Vera’s fund is another example of venture capital firms looking to support earlier-stage startups. For example, in March, TTV Capital announced a $250 million fund to invest in such companies. Undoubtedly, this is not only great news for the startups garnering these investments but for the FinTech sector at large as it continues to grow and evolve. With that in mind, keep an eye out for Vera Equity’s name in future investment round write-ups.
