Illuminate Financial Management LLP, the venture capital firm established by industry veteran Mark Beeston, today announced that it had closed the first round of capital raising for its new IFM Fintech Opportunities Fund. The investment round has been co-led by financial information services provider Markit and Deutsche Börse Group to further invest in the most promising early stage fintech companies.
“We are delighted to announce the first close of the Illuminate Fintech Opportunities Fund,” said Mark Beeston, Managing Partner and Founder of Illuminate Financial Management. “Markit and Deutsche Börse are global fintech leaders whose clients will benefit from the technology firms Illuminate is already backing. We are pleased to have them both as lead investors.”
“Investing with Illuminate gives us deep insight into technologies and pioneering business models in our space,” said Lance Uggla, CEO and founder of Markit. “We look forward to collaborating with Illuminate to advise investee companies as they refine their business models and define their go-to-market approach. Fostering innovation is a pillar of our business strategy.”
“The new fund focuses on fintech companies in areas such as compliance, regulation and connectivity, among others, which fits into Deutsche Börse’s growth strategy to extend its service portfolio,” said Andreas Preuss, Deputy CEO of Deutsche Börse. “Partnering with Illuminate allows us to engage and leverage early stage opportunities that will influence the changing market landscape.”
Since setting up Illuminate Financial Management in February 2014, the company has established a large and rapidly growing pipeline of early stage companies, across all areas of capital markets activity. The IFM Fintech Opportunities Fund is focused predominantly on Series A and Series seed financing rounds.
About Illuminate Financial Management LLP
Illuminate Financial Management LLP was founded in 2014 as a London-based venture capital firm with global mandate, exclusively focused financial technology that benefits capital markets participants. Illuminate’s first fund is established to capitalise on fintech investment opportunities driven by the significant change in the business and regulatory environments in which financial institutions operate. The fund brings together investors, entrepreneurs and financial institutions in investing in and fostering the adoption of new technologies that address those critical business needs. Through the application of our domain knowledge the connection of entrepreneurs and their companies to our extensive industry networks, we aim to drive successful outcomes for our portfolio companies and all our stakeholders.
About Deutsche Börse Group
Deutsche Börse Group is one of the world’s leading service providers for securities and derivatives markets with a product and service offering for issuers, investors, intermediaries and data vendors. The Group covers the entire process chain from trading through clearing to settlement and securities custody. Furthermore, Deutsche Börse offers market data, indices and analyses and is a service provider for the development and operation of IT systems.
About Markit
Markit is a leading global provider of financial information services. We provide products that enhance transparency, reduce risk and improve operational efficiency. Our customers include banks, hedge funds, asset managers, central banks, regulators, auditors, fund administrators and insurance companies. Founded in 2003, we employ over 4,000 people in 11 countries. Markit shares are listed on Nasdaq under the symbol MRKT.