Est. 2014, London HQ, $200m AUM (spun to Mouro Capital $400m 2020). Portfolio: 36+ cos incl. Ripple, Tradeshift, Upgrade, iZettle (exited PayPal $2bn), Kabbage, Securitize, Klar. Early unicorn backer. 25–35% IRR, 1.75x MOIC. Strategic co-investor model w/ Santander's 10 core markets (Europe, Americas). Senior team: Manuel Silva (GP), Chris Gottschalk.
Investment Focus
Investment Thesis
Corporate VC focused on fintech; invests seed to series B across Europe, Americas. Check sizes £3.8–7.5m avg ($5–10m). Demands strategic value: 70% portfolio active with Santander. Seeks companies improving customer experience, revenue/cost efficiency within 18–24m. Priorities: blockchain, payments, digital lending, alternative credit. Now operated as Mouro Capital (2020+). Avoids obvious non-fintech bets.
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