Breaking News
You are here: Home / All / SixThirty raises $7 million toward new startup investment fund

SixThirty raises $7 million toward new startup investment fund

SixThirty, the St. Louis-based, early-stage investment fund and accelerator that invests in financial services startups, has raised $7.2 million, according to documents filed with the Securities and Exchange Commission.

The money is part of a larger SixThirty fund that will enable it to increase the size of its typical investment from $100,000 to $250,000. The total size of the fund offering, according to the SEC filing, is $20 million.

Atul Kamra, managing director of SixThirty, told the Post-Dispatch that the firm has increasingly seen more mature companies apply for funding, which has led to a need for an increased investment.

SixThirty, which started as an accelerator program, has invested $3.7 million into approximately 35 startups to date. Its portfolio includes companies operating within a wide range of fintech segments, from automation and artificial intelligence software to blockchain technology and peer-to-peer money transferring.

Early-stage capital, too, is increasingly harder to find in St. Louis than in the past.

The framework for a state-operated venture capital fund called the Missouri Innovation Fund that could be worth up to $250 million to invest in startup companies based in Missouri has begun to take shape in Jefferson City, though local startup officials are unconvinced it will go toward early-stage financing.

Meanwhile, several local banks and Cultivation Capital, a St. Louis-based venture capital firm that also backs SixThirty, is expected to announce an update soon on a previously announced $5 million seed fund for startups.

Share on TwitterShare on FacebookShare on LinkedInPin it on PinterestSubmit to redditSubmit to StumbleUponShare on Tumblr


About admin

Please support the site
Let's connect on our social media pages