Vestigo Ventures unveils vertigo-inducing $59m fund
Vestigo Ventures, a Boston-based VC, has closed its Vestigo Ventures Fund I with $58.9 million, which will be focused on early-stage fintech companies, driven by digitisation in financial services.
More money for start-ups
Vestigo was founded by David Blundin, founder and chairman of Cogo Labs; Mark Casady, former CEO and chairman of LPL Financial; and managing director Ian Sheridan.
Casady says: “[We] believe incumbents in financial services need to drive down costs and vastly improve the customer experience in order to remain relevant and prosper amidst this wave of change.”
“Combine Vestigo’s limited partners (LPs) with our advisory board and access to resources from Cogo Labs, a data-driven start-up incubator, and the firm is poised to offer early stage fintech players with more access to data, financial industry expertise and operational experience to help them win,” adds Blundin.
So far, Vestigo Ventures has invested in eight companies: Digital Assets Data, LifeYield, Micronotes, Mirador, Netcapital, Student Loan Genius, TowerIQ and Vestmark.
The firm invests in companies that are applying technology like blockchain, artificial intelligence (AI), and big data, to improve market structures, provide operational solutions, enhance worksite management and/or support personal wealth strategies.
Vestigo Ventures Fund I is comprised of LPs who are corporate investors from the insurance industry and asset management (51%); family offices (28%); and individual investors (21%).
