Austin Capital General Partner, LLLP, an Irvine, Calif.-based fintech investment firm, has launched a $125m venture fund.
Fintech Fund II, LLLP, will target investments in fifteen to seventeen portfolio companies in the financial technology sector.
The fund will seek to invest in portfolio companies two major categories:
- First, it seeks firms with approximately three to seven years of business with consumer-facing products and services that have not been able to scale, but possess an experienced management team, revenues, and strategy.
- Second, it invests in fintech companies assisting financial institutions that utilize legacy systems still using manual processes and struggling with digital transformation.
Led by David Park, managing partner and principal, Austin Capital General Partner is a Southern California-based fintech investment team whose partners have an average of 16 years of experience in the financial services industry, technology development, and operations. The firm’s first fintech fund closed in December 2020 with 3.1X return of capital investments.