FinTech investor Core Innovation Capital confirms $100m Fund III goal

FinTech venture capital investor Core Innovation Capital has confirmed it is eyeing up to $100m for its third foray into the fundraising market.

The firm raised $75m for Core Innovation Capital II, which it closed in early 2017, and is looking to up the stakes again for its third fund according to a filing it lodged with the US SEC.

The Wall Street Journal suggested last November that Core was targeting $125m for Fund III, citing an unnamed person it said was familiar with the situation.

No capital has been registered for the fund to date according to the SEC filing, although the document says Core expects to complete the raise within the next 12 months.

Los Angeles-based Core Innovation raised about $45m for its first fund in 2011.

The firm is led by founder and managing partner Arjan Schütte, a veteran startup investor and director, and managing partner Kathleen Utecht, who previously worked for WVP Ventures and Comcast Ventures.

Investments made by the firm to date include global payments business Ripple, online home improvement financing go-between Mosaic and company fertility benefits management software business Carrot.

Copyright © 2019 FinTech Global

Enjoying the stories?

Subscribe to our weekly InsurTech newsletter and get the latest industry news & research


The following investor(s) were tagged in this article.