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According to a news statement, the London-based asset management firm Fasanara Capital has launched a new $350 million venture capital fund focused on fintech and Web3. The company manages more than $3.5 billion in assets and has staff focused on lending and trading digital assets.
Fasanara Capital's Transition to VC Investment
Fasanara Capital, established in 2011, has transitioned to venture investment during the last three years, taking part in 27 fundraising rounds throughout the European fintech sector. For Web3 startup Twig, which is creating a green cryptocurrency payments infrastructure, it led a $35 million Series A financing round. Francesco Filia, CEO of Fasanara Capital, stated,
"Having gained a reputation as the leader in the space, we are now seeing a dealflow of unprecedented quality, and we want to capitalize on it."
A bear market hasn't slowed down venture capital investments in cryptocurrencies in 2022 despite witnessing a decline of almost 50% in Bitcoin and Ether prices since the beginning of the year. The third venture fund from Fasanara intends to take advantage of the rising degree of innovation that the company observes from its position as one of Europe's top digital lenders and traders of digital assets, including cryptocurrency.
Rise in Fintech Investments in Europe
In 2021, 750 financing agreements were signed, totaling €26 billion for European fintech firms. Furthermore, last year, four of the top ten most valuable IT businesses in Europe were fintech. European VCs made a record $2.2 billion investment in firms related to cryptocurrencies and DeFi in 2021. Fasanara is in an ideal stage to benefit from this trend since it is currently Europe's largest lender to fintech platforms and a significant crypto liquidity provider in its own right. It now holds a portfolio of 29 startups and growing software companies, including Twig, a marketplace and financing solution for the circular economy that is Web3 enabled.