St. Louis, MO-based venture capital firm Cultivation Capital held the first close of its fintech fund, at approx. $20.5m.
According to a regulatory form filed with the SEC, 30 backers have participated in the offering of Cultivation Capital Fintech Fund, L.P. The final target of the fund has been fixed at $100m.
Led by Joe Maxwell, Jim McKelvey, Rick Holton, and Rick Kushel, Cultivation Capital actively invests out of a variety of funds, and support and invest in multiple accelerator programs focusing on areas like financial technology, agriculture technology, and women-led companies.
In the field of fintech, the firm backs SixThirty, a St. Louis-based accelerator providing focused startups with up to $100K in funding, mentors, and connections to the top financial services companies in the country.
Cultivation Capital’s portfolio include WealthAccess and DealCloud, among others.