The Nashville firm, launched in 2016, concentrates on B2B Software-as-a-Service (SaaS) companies in the FinTech sector. Its Fund II is active with Trovata, Vouchr, myDigitalOffice, FinMkt, Digital Onboarding and Decusoft.
"Though the current climate is full of problems, many of our companies actually sell the solutions to those problems," said Joe Maxwell, co-founder and managing partner of FINTOP Capital in the statement. "We are experiencing the beginning of the modernization of finance. As operators, we are well-positioned to source exciting deals and supercharge those companies with capital, a solid network and playbook to ensure they thrive and grow regardless of the new challenges companies are facing today.”
Almost 80 percent of the limited partners from the first $50 million fund in 2016 joined Fund ll. The first fund made 13 investments, with two companies sold — DealCloud to Intapp in 2018, and Solovis to Nasdaq in March 2020.
Despite the coronavirus pandemic, FINTOP Capital is “still actively investing in companies” and supporting early-stage startups, according to the statement.
Aside from Nashville, the company has offices in New Jersey, and Missouri.
Today’s business and economic climate is volatile due to the pandemic and is expected to have an impact on VC. However, a recent analysis suggests startups don’t have much to worry about concerning their investment prospects.
VCs are funding new initiatives that are designed to support the startup community as uncertainty mounts because of the virus. B2B FinTech funding deals in March saw more than $76 million in new support.