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Laxman Pai, Opalesque Asia:

UK Fintech Growth Partners has launched a GBP1 billion ($1.27 billion) investment fund for growth-stage UK fintechs, backed by some of the financial industry's biggest giants.

This is said to be a first-of-its-kind fund that will focus on supporting growth-stage fintechs as they scale, in a bid to bolster Britain's global image as a fintech investment hub.

With backing from Barclays, NatWest, Mastercard, London Stock Exchange Group and Peel Hunt, UK Fintech Growth Partners has confirmed that the fund's first investments will begin in Q4 2023, with "a strong pipeline of opportunities already identified".

According to a joint press release, the Fintech Growth Fund, predominantly for companies between Series B and pre-IPO, is expected to deliver four to eight investments per year for equity and equity-linked securities, including minority investments, with capital ranging from GBP10 million to GBP100 million.

Alongside the investment capital, the FinTech Growth Fund will provide strategic support to its portfolio companies to help them achieve their corporate ambitions, giving them access to an ecosystem of deep, relevant experience across FinTech, venture capital, and the wider financial services ecosystem, it said.

The UK FinTech Growth Partners executive team combines decades of experience in venture capital, FinTech, and government. The partners of the fund include Angel Issa, Joe Parkin, Kaushalya Somasundaram, and Phil Vidler.......................

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