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SixThirty Ventures closes fund III with $66M

Tuesday, February 28, 2023
Opalesque Industry Update - Today, SixThirty Ventures announced the final close of SixThirty Fund III, anchored by category-leading corporate LPs including Edward Jones and Reinsurance Group of America (RGA). With the new fund, assets committed to SixThirty tripled, allowing the firm to make larger investments in early-stage companies at the intersection of finance, health and privacy.

Since its inception, SixThirty has made over 100 investments across 15 countries, and 50% of founders are women or people of color. The Firm has steadily expanded its reach, with presences in Amsterdam and Hong Kong.

"Over the past 5 years we have built a global platform investing in big ideas in FinTech, InsurTech and Cybersecurity, applying a strategic playbook that marries the scale of category leaders with the speed of bold founders" said Atul Kamra, Managing Partner at SixThirty.

"SixThirty's unique investment and collaboration platform brings together a deep network of advisors and corporations in finance, insurance and healthcare with innovative startup founders" said Molly Hoffmeyer, Director of Corporate Partnerships at SixThirty "Founders gain critical operating and go-to-market expertise, and the playbook drives tangible commercial opportunities for startups and incumbents alike."

"We are in the speed-to-trust business", said Kamra. "In the scaling of enterprise tech companies, speed to market is all the rage. The long pole in the tent is change and the underappreciated factor is trust. SixThirty accelerates speed to trust: de-risking execution and driving collaboration between portfolio companies and our corporate LPs," he added. Joining Edward Jones and RGA as Fund III LPs are Allianz Life Insurance Company of North America (Allianz Life), BNY Mellon | Pershing, Commerce Bancshares, Inc, Unum Group, and others.

Fund III is already active, with investments across the globe including: Sharegain (London/Tel Aviv), Sagewell (Boston), T-Care (St. Louis), CoverGo (Singapore), Angle Health (Salt Lake City) and Phylum (Denver).

Kamra shared: "2022 was by no means a cakewalk for raising a fund, and we learned a lot. For one, SixThirty's investment thesis is more relevant than ever; the worlds of finance, healthcare and information security are colliding, making room for big, bold investible ideas. Concurrently, the modernization of financial services continues to provide strong tailwinds for incumbent and start-up collaboration and investments. Valuations have sobered from the heady days of 2021. It is the recipe for sustainable innovation and alpha."

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