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Balderton Capital “bullish” on fintech as it debuts new $400m fund

Venture capital fund Balderton Capital invested around 20% of its previous fund in fintech.

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Balderton Capital Partner Suranga Chandratillake.

London-based venture capital fund Balderton Capital this morning announced a new $400m fund to invest in European Series A startups.

Partner Suranga Chandratillake told AltFi that 20% of Balderton’s last fund went into fintech, and that a similar percentage would be invested this time.

“We are bullish, there is still a huge amount of opportunity in that space. We are looking for people who have a unique take on the market,” he said.

Balderton’s existing portfolio includes some of the industry’s leading names like Revolut,GoCardless,ComplyAdvantage,Crowdcube,Nutmeg and more.

Chandratillake said going forward there were three things the VC will be looking for when investing in fintech companies: “multi-million dollar markets, an interesting founder who has a particular personal element to their mission, and people who want to make a lasting impact”. 

He also mentioned “demonstratable momentum” as a standout feature that Balderton in looking for as it embarks on yet another funding adventure. 

This is Balderton’s seventh fund, with a total capital raised of over $3bn, with the VC’s 15-strong investment team having invested in companies across 15 European countries.

The fresh fund is expected to be used to back around 30 companies over the coming years, with some of the $400m being reserved for follow-on rounds to help the companies on their development journey further down the line. 

Bernard Liautaud, Managing Partner at Balderton, said about the $400m investment more broadly: “We believe Europe has the potential to build the next generation of technology giants, and we are focused on helping brilliant founders fulfil that ambition.”

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