UK hedge fund teams up with Deutsche Börse and Markit to launch venture capital fund

British hedge fund Illuminate Financial Management has confirmed the closure of its first round of capital raising for its IFM Fintech Opportunities Fund with the backing of by financial information services provider Markit and Deutsche Börse Group.

The venture capital fintech fund currently manages USD50m (€46.36m) in assets and is focused predominantly on Series A and series seed financing rounds.

“We are delighted to announce the first close of the Illuminate Fintech Opportunities Fund,” said Mark Beeston, managing partner and founder of Illuminate Financial Management. “Markit and Deutsche Börse are global fintech leaders whose clients will benefit from the technology firms Illuminate is already backing. We are pleased to have them both as lead investors.”

“Investing with Illuminate gives us deep insight into technologies and pioneering business models in our space,” said Lance Uggla, CEO and founder of Markit. “We look forward to collaborating with Illuminate to advise investee companies as they refine their business models and define their go-to-market approach. Fostering innovation is a pillar of our business strategy.”

“The new fund focuses on fintech companies in areas such as compliance, regulation and connectivity, among others, which fits into Deutsche Börse’s growth strategy to extend its service portfolio,” said Andreas Preuss, deputy CEO of Deutsche Börse. “Partnering with Illuminate allows us to engage and leverage early stage opportunities that will influence the changing market landscape.”

Mona Dohle
Mona Dohle speaks German and Dutch and is DACH & Benelux Correspondent for InvestmentEurope.

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