Element Ventures Closes $130 Million Financing for B2B Fintech Fund

​Element Ventures (Element), a global venture capital (VC) fund investing in B2B financial technology companies, announced yesterday it has raised $130 million to invest in the founders building tomorrow’s financial enterprise technology businesses.

According to the VC firm, the investors in the fund total more than 30 founders and financial leaders. Lord Spencer, founder of ICAP/NEX Group, was the fund’s cornerstone investor. Other investors include Laurent Useldinger, founder of ULlink; Cris Conde, former CEO of SunGard; Marc Murphy, founder of Fenergo; David Rutter, founder of R3; Pierre Naude, co-founder of nCino and Christian Nentwich, founder of Duco.

Isomer Capital, Europe’s leading institutional VC Fund of Funds, also invested and joined the LP (limited partner) Advisory Board.

Element is focused on a high conviction investment strategy, investing in a small number of companies every year to ensure it can provide full support to its portfolio companies. In terms of the latest funding, it will number around 15 portfolio companies in areas including banking-as-a-service, payments, insurtech, asset management and infrastructure.

“When we created Element Ventures we believed that a sector-focused, founder-focused venture platform was what Europe’s B2B fintech entrepreneurs needed. This has been validated by both founders and LPs. We’ve been able to build a platform for fintech founders, backed by fintech founders, that will help to scale transformative businesses in the industry,” said Steve Gibson, Partner at Element Ventures.