Citi invests in Illuminate Financial

Illuminate Financial, the thesis-focused venture capital investor dedicated to early-stage FinTech and enterprise software companies, announced a strategic relationship with Citi. Citi joins existing investors Jefferies, JP Morgan, Deutsche Börse Group and S&P Global as a limited partner in Illuminate Financial’s venture capital strategy.

Together, this group of investors represents a unique combination of global financial institutions, which will further expand Illuminate Financial’s deep domain expertise and industry network. To date, Citi has co-invested in eight of Illuminate’s portfolio companies: Arteria AI, TransFicc, CloudMargin, Privitar, Genesis Global, Talos, Cosaic, and Blockdaemon.

Founded by veteran finance executive Mark Beeston and operated with partners Alexander Ross and Rezso Szabo, Illuminate Financial has invested in more than 30 companies addressing key financial services challenges including digital asset infrastructure, climate and ESG , data and private markets, as well as broader markets. enterprise solutions that target the sector.

“Citi has a strong track record of partnering with FinTechs to create digital solutions for our customers and believes this strategic investment will provide earlier visibility into new technologies and complement our direct investment program,” said Sandeep Arora, chief executive. digital and chief investment officer. of Citi’s institutional client group.

“Citi has been an aggressive adopter of innovative FinTech solutions and an active direct investor in 25% of our portfolio companies since we launched Illuminate’s first fund in 2015,” said Mark Beeston, Founder and Partner. director of Illuminate Financial. “We are thrilled to now add Citi to our roster of strategic investors, helping to further catalyze enterprise adoption of FinTech for the benefit of the entire ecosystem.”

Source: Illuminate Financial