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Today: May 19, 2024
January 8, 2024
1 min read

Financing the Future: $75m Raised by Plaid x Robinhood Experts

TLDR:

  • Exponent Founders Capital, a venture capital firm led by former Plaid and Robinhood employees, has raised $75 million for a fund to invest in early-stage startups, including those in the fintech sector.
  • The fund, called Fund II, is part of Exponent Founders Capital’s overall $125 million in funding. It will be used to invest in companies in areas such as enterprise software, fintech and payments, infrastructure, applied AI, and vertical SaaS across the US, Canada, and Europe.
  • The raise was primarily oversubscribed by nonprofit endowments and hospitals, with limited partners including Carnegie Mellon University and Cook Children’s Health Care System.
  • Exponent Founders Capital, which was founded in 2021 by Charley Ma and Mahdi Raza, aims to help startup teams grow their businesses from zero to $100 million+ and beyond in revenue.

Key Elements:

  • Exponent Founders Capital, a venture capital firm led by former Plaid and Robinhood employees, has announced that it raised $75 million for its Fund II. This brings the firm’s total funding to $125 million.
  • The fund will be used to invest in early-stage startups across various sectors, including fintech, enterprise software, fintech and payments, infrastructure, applied AI, and vertical SaaS. The investments will be made in companies located in the US, Canada, and Europe.
  • Nonprofit endowments and hospitals were the primary oversubscribers to the raise. Limited partners in the fund include Carnegie Mellon University and Cook Children’s Health Care System.
  • Exponent Founders Capital was founded in 2021 by Charley Ma and Mahdi Raza. The firm aims to be a long-term investor, helping startup teams grow their businesses beyond $100 million in revenue.
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