Ten Coves Capital LP, a growth equity firm focused on investments in FinTech, has closed Ten Coves Capital III LP, the firm’s third fund with commitments of $293 million.
The new fund results in Ten Coves managing over $600 million in aggregate committed capital. The firm intends to continue its strategy of investing with rapidly growing Fintech companies. Fund III closed at its hard cap and was oversubscribed.
“We’ve been investing in FinTech before FinTech was a coined term, and today, leverage over two decades of experience and deep industry networks to help build leading, strategically significant companies,” added Dan Kittredge, managing partner of Ten Coves. “The tremendous support from our investors, including a number of entrepreneurs with whom we’ve partnered, has allowed us to grow our team and re-double our efforts to back the next generation of innovative FinTech companies, all at a time of unprecedented growth in our market.”
Forum Capital Securities LLC served as placement agent to Ten Coves and Proskauer served as legal counsel for Fund III.