Fiat Ventures merges advisory and venture arms, launches $35M fintech Fund II

Fiat Ventures disclosed that it is consolidating its growth consultancy, previously known as Fiat Growth, with its venture arm into a single brand called FGV Capital, coinciding with the launch of a $35 million second fund. Partners Marcos Fernandez and Drew Glover explained that the combined model will let founders benefit from both financing and a broad advisory network while maintaining separate entities to prevent conflicts of interest.

The new fund, which took about a year and a half to raise, focuses on fintech projects that intersect with artificial intelligence, healthcare, commerce and other sectors. Investors in the fund include Reinsurance Group of America, MassMutual and Bank of America, chosen for their ability to provide more than just capital. FGV plans to invest $1 million to $1.5 million in at least 25 companies over two years, building on a first fund of $25 million and a portfolio that already counts around 40 startups such as Wagmo and Possible Finance. The firm hopes the integrated approach will create a full-stack ecosystem where capital, distribution and relationships reinforce each other.