Illuminate Financial Management LLP, the London, UK-based venture capital firm, held the first close of its IFM Fintech Opportunities Fund.
The amount of the close was not disclosed.
Backers included financial information services provider Markit and Deutsche Börse Group.
The fund will invest in Series A and Series seed financing rounds of promising early stage fintech companies in areas such as compliance, regulation and connectivity, among others.
Set up in February 2014 by industry veteran Mark Beeston, Illuminate Financial Management has a global mandate but is exclusively focused on financial technology bringing together investors, entrepreneurs and financial institutions to invest in and foster the adoption of new technologies that address critical business needs of the industry.
The firm’s portfolio includes, Droit, Enso, OpenGamma, Duco and Cloud Margin.