Cultivation Capital has raised $20.5m for its new fintech-dedicated fund, according to an SEC filing.
The Missouri-based firm attracted 30 investors to the fund, which the filing reports has a total offering of $100m.
Cultivation has previously backed fintech startups including Melbourne-based marketplace payments company PromisePay, lending solution FinLocker and Argentinian financial risk management solution S4.
The firm was founded in 2012 and has raised three previous funds – $20m and $4.75m tech funds and a $15m life sciences fund.
Cultivation hired Joe Maxwell in January as managing partner of its fintech growth fund.
It will invest in B2B service-enabled SaaS and software companies that already have a product on the market and $1.5m in recurring revenue.
The fintech fund will also work alongside Cultivation’s tech fund and its St. Louis-based SixThirty FinTech accelerator to make seed and Series A investments.
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