PriyaPatel
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TLDR:
Former Citi, Battery VC Ramneek Gupta has closed a new $378.5 million fund to invest in financial services and enterprise-focused startups. The fund includes several financial and insurance LPs, offering portfolio companies access to partner with top global insurance companies as customers. Gupta’s first fund invested in successful companies like Pismo, which was acquired by Visa for $1 billion.
Key Elements:
Former Battery Ventures and Citi Ventures VC Ramneek Gupta has closed a new $378.5 million fund to invest in financial services and enterprise-focused startups.
- The fund includes financial and insurance LPs like Prudential Financial, TIAA, Lincoln Financial, Generali, Nippon Life, and more.
- Gupta’s strategy involves offering portfolio companies access to partner with top global insurance companies as customers, providing a valuable first customer and potential for growth.
- Companies in Gupta’s first fund, like Pismo, were successful with one acquisition reaching $1 billion, showcasing the potential for Fund II investments.
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