US-based venture capital firm Valar Ventures has raised up to $11.6m for its sixth co-investment fund, so far.
Valar Co-Invest 6 has a target of $20m, according to a new filing submitted through the US Securities and Exchange Commission. It is unclear whether this target is just a target or is the hard cap of the vehicle.
There have been at least nine accredited investors to have taken part in the fundraise, the form indicates.
This fund comes just months after the firm closed the fundraising of its fourth flagship fund, which has a capital pool of just over $133m. The fund pulled in commitments from up to 35 investors.
Valar is very active investor to the FinTech sector, having made six deals this year alone. Most recently, it backed France-based challenger bank Qonto’s €20m Series B round. Launching last year, Qonto is an entirely digital bank for SMEs and freelancers, to support their business account needs.
Prior to this, Valar and N26 co-led the $13m Series A round of Taxfix, a mobile assistant for tax declarations. Berlin-based Taxfix uses smart algorithms to simplify tax and speed up refund processes, helping to cut times by 12-times and making it up to 10-times cheaper than existing solutions.
Other FinTechs in its portfolio include P2P currency exchange TransferWise, European challenger bank N26, accounting software for small businesses Xero and online insurance platform Jetty.
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