Vesey Ventures Launches $78M Debut Fund to Help Startups Break into the Financial Industry and Accelerate Growth
Former CEOs of AMEX Ventures launch debut fund to identify and access game-changing business development opportunities for early-stage fintech companies
Founding partners bring decades of investment and business development expertise, having made early stage investments in 50+ fintech companies including Melio, Plaid, Stripe and Trulioo
Vesey Ventures will leverage its extensive network and domain expertise to identify, fund and scale the next generation of great fintech companies
NEW YORK, 20 April 2023 /PRNewswire/ — Vesey Venturesan early-stage venture firm that invests in companies transforming financial services, today announced the closing of its debut fund of total 78 million dollars. Vesey Ventures was founded by three former CEOs of AMEX Ventures, Dana Eli-Lorch, Lindsay Fitzgerald and Julia Huang, and will invest in early fintech and enabling technology companies where there are opportunities for early partnerships with financial players. Located in the United States and IsraelThe fund has already made several notable investments, including Coast, Cyrus, Grain, Equi and Proper.
With nearly a decade of experience co-investing and establishing partnerships for fintech companies, Eli-Lorch, Fitzgerald and Huang are uniquely positioned to identify and access game-changing business development opportunities for their portfolio. The founding team has a track record of investing in early fintech winners such as Melio, Plaid, Stripe and Trulioo and has established more than 100 partnerships between startups and financial institutions. Vesey Ventures combines the best of their backgrounds – deep domain expertise in traditional financial services and a unique understanding of the startup ecosystem – to identify, fund and scale the next generation of great companies.
“Financial incumbents still provide the critical pieces startups need to succeed – infrastructure, capital, licenses and customers – and we’ve seen firsthand how the most successful fintech companies were built in partnership with incumbents,” said founding partner Dana Eli-Lorch, Lindsay Fitzgerald and Julia Huang. “We created Vesey Ventures to give our portfolio companies a competitive edge early on by bridging the gap between the companies that need new technologies and those that build them. Partnerships can be a game-changing part of a fintech company’s growth story, and we have an unparalleled track record of deliver these for our founders.”
In addition to each Term Sheet, Vesey Ventures issues a ‘Strategy Sheet’ to each portfolio company that describes how the firm will leverage its extensive network of strategic investors and advisors to serve as the company’s first business development team. As industry insiders who have operated for years at the intersection of finance and technology, the firm specializes in identifying partnerships and providing strong entry points within the financial services ecosystem to make them happen.
“Partnering with Vesey Ventures has been jet fuel for Coast,” said Coast’s founder and CEO Daniel Simon. “The team immediately showed a deep understanding of my business and identified the tactics they could use to move the needle for us. They put it on paper right away and they have delivered. They had innovative, actionable business development ideas that helped shape our go -to-market strategy. They found us the right employees and advisors when we needed them. They are indispensable for fintech entrepreneurs.”
“Business development in the financial services industry is not just a nice to have, it’s a need to have, and Vesey Ventures is the kind of insightful, strategic partner you want at the table,” said the Trulioo co-founder Stephen Ufford. “Founders working in banking, payments, data networking and compliance will find their team’s expertise second to none. Vesey Ventures knows the decision makers, they can make the connections and they have the experience. They are relentless when it comes to business development and never gave up on helping Trulioo with acquiring our first major bank customer.”
Israel serves as a critical market for a number of Vesey Ventures focus areas, including early-stage fintech, enterprise software, cybersecurity and data and AI. The team has previously invested in a number of Israeli companies, including BioCatch, Melio and Next Insurance, and the fund has already invested in two Israeli-based portfolio companies. With offices in the US and Israel, Vesey Ventures is well positioned to help local startups partner, expand and commercialize in the US.
The founders have previously made early stage investments in some of the world’s most successful fintech companies, including Stripe, Plaid, Toast, Melio, Trulioo, Signifyd, iZettle, FalconX, Menlo Security, BioCatch and Codat.
About Vesey Ventures
Vesey Ventures is an early-stage venture firm based in the United States and Israel invest in companies that transform financial services. Founded by a trio of long-time fintech investors and operators, Vesey Ventures invests in companies where opportunities exist for early partnerships with financial players. Vesey Ventures combines deep domain expertise in traditional financial services with a unique understanding of the fintech startup ecosystem to bridge the gap between the companies that need new technologies and those that build them.
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SOURCE Vesey Ventures
