Peer-to-peer lending platform backer Fasanara Capital is looking to raise $350m (£283m) for a new venture capital fund that will invest in fintech and crypto companies.
The London-based asset manager has already secured $100m for the new fund, chief executive Francesco Filia said in an interview with Bloomberg.
Unlike its previous venture funds, Fasanara’s third fund will be open to new external investors, Filia reportedly said.
Read more: Special report on institutional investment
Fasanara has more than $3.5bn in assets under management and provides funding for firms including cryptocurrency exchanges and digital lending businesses. It has previously invested in UK P2P platforms including FundOurselves.
The company has previously raised about $550m across two venture funds to invest in tech companies, including technology rental start-up Grover and buy-now-pay-later company Scalapay.
According to Bloomberg, Filia said the current turbulence in technology valuations is beneficial for his strategy.
“As the market goes through a difficult phase we can do better deals,” he said.
Last September, Fasanara Capital launched a €250m (£214m) fintech fund to invest in working capital financing solutions for small- and medium-sized enterprises (SMEs) across the EU.
The launch was supported by the European Investment Fund (EIF), which made a cornerstone investment in the fund.
“We help bridge the gap between credit-starved SMEs and European institutional investors willing to support them, through the use of advanced technology, in ways that are sustainable, equitable, transparent and empowered with data,” said Filia at the time of the launch.