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.

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