Fiat Ventures Rebrands as FGV Capital and Launches $35M Fund II

Fiat Ventures has combined its venture investment and growth advisory businesses under a new brand, FGV Capital, while launching its second fund with $35 million in committed capital.

The fintech-focused firm said the move is designed to give founders access to both investment capital and strategic support for scaling their companies. FGV Capital will operate with separate investment and advisory functions, according to the firm.

FGV Capital combines venture investing and founder support

Before the rebrand, Fiat Ventures operated a separate growth consultancy known as Fiat Growth. The advisory business helped startups with scaling strategies, business development, and go-to-market efforts while connecting them with a network of industry executives.

General partners Marcos Fernandez and Drew Glover said combining the two divisions creates more opportunities to support founders beyond providing capital. Glover said the advisory network has helped the firm attract startup founders who see additional value in working with the broader platform.

However, Glover said the consulting business and investment operations will remain separate. He said the firm has established processes to prevent advisory relationships from influencing investment decisions.

The goal, according to Glover, is to use information and context gained through the broader FGV network to improve investment decisions without changing their outcomes.

$35 million Fund II targets fintech opportunities

FGV Capital’s new Fund II focuses on fintech companies operating at the intersection of financial technology and areas such as artificial intelligence, healthcare, commerce, and other industries.

The firm spent about 18 months raising the fund and said it sought limited partners who could contribute more than capital by providing industry knowledge and support to portfolio companies. The fund includes investors such as Reinsurance Group of America, MassMutual, and Bank of America.

FGV Capital plans to invest between $1 million and $1.5 million in at least 25 companies over the next two years. The firm has already backed 13 companies through the new fund.

Firm expands ecosystem approach for startups and investors

FGV Capital said its model is designed to create connections between founders, investors, and business partners while keeping its advisory and investment activities independent.

The firm also runs programs aimed at helping portfolio companies connected to its limited partners grow and creates opportunities for partnerships between investors and companies supported by its advisory business.

Fernandez said the company’s goal is to build an ecosystem where capital, distribution, and relationships can support founders and investors in multiple ways.

FGV Capital previously raised a $25 million first fund and has invested in about 40 companies, including pet insurance company Wagmo and loan provider Possible Finance.