It’s no secret that a massive digital transformation is happening within financial services companies and amid the growing number of non-financial outfits that are also adding financial products to their offerings.
Still, Sheel Mohnot, who was formerly a general partner at the fintech fund of 500 Startups, and Jake Gibson, co-founder of personal finance startup NerdWallet, were a little taken aback by investor interest in their fintech-focused early-stage venture firm, Better Tomorrow Ventures, or BTV.
The outfit just closed its debut fund with $75 million in capital commitments, exceeding their original $60 million target, and even one of their earliest investors, Michael Kim of Cendana Capital, expresses surprise. “Remarkably, they raised a lot of it during Covid,” says Kim.
We talked yesterday with the pair, who have already invested in 13 startups with the fund’s…