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