Posted under Startups
from 1038 days ago

Image Credit: Images via Shutterstock, modified by VentureBeat

Venture capital fund Life.SREDA announced today it intends to raise a second fund worth $100 million that will be focused on investments in financial technologies.

Based in Moscow, the firm said it has already secured $20 million of that fund. The firm’s previous investments included Simple, which was acquired by BBVA Group for $117 million earlier this year.

The new fund will target later-stage startups in the U.S. and European regions with investments ranging from $5 million to $10 million.

Fintech certainly seems to be on an upswing. In its press release, the firm cites figures from Accenture that indicate investments into financial tech startups have grown from $1 billion in 2012, to $2.2 billion in 2013. And in the first quarter of 2014 alone, the amount had climbed to $2.6 billion.

Formerly BankSimple, Simple is the ...


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