Illuminate Raises $235 Million From Big Backers for VC Fund
- Fund will invest in firms that cater to financial institutions
- JPMorgan, Citi and Barclays also invested in the vehicle
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UK venture capital firm Illuminate Financial raised $235 million for its third fund from investors including Bank of New York Mellon Corp. and Euroclear.
The fund — the London-based firm’s largest — will invest in startups that offer technology services to financial institutions, Illuminate said on Tuesday. Existing Illuminate strategic investors including JPMorgan Chase & Co., Barclays Plc and Jefferies Financial Group Inc. also put money in the new fund, according to Illuminate.