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December 18, 2023
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Canapi Ventures Rockets High with $750 Million for Fintech Fund II

  • Canapi Ventures, a fintech venture capital fund, announced the raise of a $750 million Fund II. This latest raise brings Canapi’s total assets under management to over $1.4 billion.
  • The fund is backed by the Canapi Alliance, a network of strategic banks and financial partners institutions across North America, and nearly 70 financial institutions and strategic investors across the United States.
  • Canapi plans to continue supporting innovative companies looking to create a more inclusive and equitable financial ecosystem and has expanded its key industries to include the use of AI, cybersecurity, and the intersection of financial services and climate technology.
  • In its Fund I, Canapi made 20 investments across key sectors and has facilitated almost 100 partnerships between its LPs and portfolio companies. It has also supported the creation of nearly 1,500 jobs in the fintech and financial services industry.

Canapi Venture’s Fund II follows the continued strategy of its Fund I, adding a focus on the responsible use and governance of AI, cybersecurity, and the intersection of financial services and climate technology. The company has already made investments in companies within these sectors, such as DynamoFL, Island, and Crux Climate out of Fund II. As part of this expansion, the $750 million fund will continue to invest in startups at all stages, from ideation to providing support throughout a company’s lifecycle.

Fund II’s raise will enable increased support for innovative entrepreneurs and companies aiming to create a more equitable financial ecosystem. The fund has already generated around $40 million in annualized revenue and significantly contributed to job creation within the fintech and financial services industry.

With this announcement, Canapi has also expanded its team and geographical reach. The team has more than doubled in size since Fund I and now has offices in New York City and San Francisco. The venture fund is committed to disrupting outdated business models and technologies and leveraging early to growth-stage companies.

Canapi Ventures is redefining the fintech landscape by investing in disruptive alternatives, adding significant value to its portfolio companies and creating job opportunities in the financial technology and services industry. Its latest fund, powered by partnerships and strategic alliances, continues to make strides in supporting sound, inclusive, and equitable fintech solutions.

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