IRVINE, Calif., April 21, 2021 /PRNewswire/ -- Austin Capital General Partner, LLLP ("Austin Capital") announces the launch of Fintech Fund II, LLLP, a $125 million venture fund that 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 relying on manual processes and struggling with digital transformation.
"As fintech continues to shape the future of financial services, we believe the industry is shifting from consumer-facing products and services such as payment and lending apps, towards enterprise-facing and back-end infrastructure solutions. While digital apps and interfaces may have changed how consumers experience financial services, the underlying systems facilitating those products and services have not advanced," said David Park, managing partner and principal of Austin Capital General Partner, LLLP.
Mr. Park continued, "By focusing on companies whose products and services allow financial institutions to transition to the modern digital environment required by market participants, we feel we are uniquely positioned to be at the forefront of an industry sea change."
About Austin Capital General Partner, LLLP Austin Capital 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. Fintech Fund II is the second fund for Austin Capital, with its first fintech fund closing December 2020 with 3.1X return of capital investments. Austin Capital General Partner has committed 50% of the total fund commitment and offers value to the portfolio companies' vision, strategy, and technical needs when necessary.
If you would like additional information, please contact John Alvarez at (214) 624-1022 or [email protected].
CONTACT INFORMATION: US Daily Journal John Alvarez, Vice President (214) 624-1022 [email protected]