A new fund from LendTech Capital Partners brings together venture capitalist leaders from Liberum, Ranger Capital, and Velocity Venture Group to create a Dallas/London-based early stage venture capital fund entirely dedicated to the financial technology sector. Liberum, based in London, has raised nearly $2 billion for marketplace lending funds and platforms; Ranger Capital has two funds for the marketplace lending industry — one private in the United States and one publicly traded in London; and Velocity Venture Group has extensive investment experience in the payment, transaction services and banking industries, having invested more than $3 billion.
The new LendTech fund has been years in the making, and the three partners each offers its own unique knowledge base and set of expertise for those they invest in. The fund will remain focused on early stage fundraising offering money for seed rounds, Series A and early Series B rounds and is dedicated to incubating the companies they invest in to help them grow bigger. The hope is as they companies grow, bigger investors will participate in future funding.
While the focus of LendTech is on seed and early series lending, they expect investments will be in the $3 to $5 million range that will be split between the US-based and international investment houses. LendTech wants to help companies with great ideas to participate in the growth of a company to where taking on debt to fund growth would make more sense. Dallas, being a big fintech town, is well suited to welcome LendTech into its ranks of venture capital firms ready to support the local fintech industry while supporting companies in their earliest stages.