Clocktower closes second financial services innovation VC fund
Clocktower Technology Ventures (CTV), the venture capital investment arm of Clocktower Group, a client-focused alternative investment firm employing opportunistic strategies across public and private markets, has held the final close of the firm’s second financial services innovation fund, Clocktower Technologies II (CTV2).
Focused exclusively on investments in early stage fintech companies, the fund closed with approximately USD70 million in capital commitments. CTV2’s investors include chief investment officers at global hedge funds and institutional investors including a university endowment, a Canadian pension, a sovereign wealth fund, and an Outsourced Chief Investment Officer (OCIO). Other strategic investors include a global bank, several venture capital firms and a publicly traded asset manager.
“When we launched Clocktower Technology Ventures in 2015, we saw an opportunity to be a differentiated partner to entrepreneurs in financial services, bringing our insights and industry relationships to support growing companies,” says Ben Savage, partner at Clocktower Technology Ventures. “We’ve been fortunate to invest behind a strong group of fintech founders through the lifecycle of our first fund. As financial services specialists with a deep understanding of capital markets and access to Clocktower Group’s global macroeconomic expertise, we are positioned to support the next generation of companies driving innovation in financial services.”
Leveraging its experience in hedge fund investing and network of capital markets professionals, Clocktower Technology Ventures identifies companies with strong, collaborative founders and a clear vision for financial services transformation. CTV creates access to the Clocktower Group network and capabilities for founders, providing unique benefits to portfolio companies through market intelligence, proprietary research, and industry relationships.
Clocktower Technology Ventures invests across financial services inclusive of insurance, payments, personal finance, lending & credit, asset management, capital markets and banking. Since launching its first fund in 2015, CTV has invested in 63 fintech companies in North America and Europe. CTV is stage agnostic, investing from seed stage through series B.