FCA-regulated Fasanara Capital raises $350 million in crypto and fintech VC funds

London-based asset manager Fasanara Capital has raised a $350 million investment fund to support fintech and cryptocurrency startups that can deliver new use cases for the burgeoning Web3 economy.

The company, which has $3.5 billion in assets under management, targets early-stage startups in the fintech and crypto space. The plan is to build long-term relationships with project creators and other industry veterans. This includes potentially larger equity commitments than traditional venture capital firms.

Founded in 2011, Fasanara Capital is a fintech investment firm increasingly specializing in digital assets and lending technologies. The company is regulated by the UK’s Financial Conduct Authority and is backed by the European Investment Fund, a Luxembourg-based financial institution that arranges small business loans through private banks and funds.

Two of Fasanara’s portfolio companies recently achieved unicorn status: ScalaPay, an Italian payment processor, and Grover, a German smartphone and subscription services company. In the startup world, a unicorn is a company that reaches a valuation of $1 billion or more.

Venture capital funding for fintech and cryptocurrency startups continues to grow as investors seek to identify the next wave of disruptive technologies. According to the organizers of the Tech.eu summit, more than 750 fintech financing deals with a total volume of over 27 billion US dollars were reported in Europe alone in 2021. Meanwhile, data from Cointelegraph Research shows that crypto startups closed 1,349 deals in 2021, with a combined value of around $30.5 billion.

Related: GameFi Shows Signs of Mature Landscape: Report

VC funds allocate more resources to Web3 companies in 2022. Source: Cointelegraph Research Terminal.

Despite signs of a bear market looming over the cryptocurrency industry, venture funding in this space has shown no signs of slowing down in 2022. In the first quarter alone, crypto startups saw cumulative inflows of $14.6 billion from the venture capital community.