NEW YORK–(BUSINESS WIRE)–Conversion Capital, an early-stage venture capital firm, today announced the closing of its oversubscribed and largest fund to date: a $122 million fund III backed by leading institutions. plan, family offices and more than a dozen founders. The new capital will fuel Conversion Capital’s investment in 25-30 pre-seed for Series A fintech companies building software, cloud infrastructure and data technologies. Since 2015, Conversion Capital has funded over 60 startups, leveraging deep domain expertise and a global network of early adopters to help unlock early growth and go-to-market channels for founders. The company has begun to deploy capital from the new fund into the fintech landscape and adjacent industries undergoing structural transformation.
Sole Founder and General Partner Christian Lawless started Conversion Capital after leaving senior capital markets positions at Lehman Brothers and Nomura in the US and UK. leveraging infrastructure to the cloud, unlocking access and product innovation, and ultimately transforming the entire industry.
“Twenty years ago, every company was striving to become a technology company with the adoption of web and mobile. Today, we are seeing the continuation and acceleration of an even greater platform shift. As more companies move their critical operating infrastructure to the cloud, operational efficiency is unlocked, impacting all aspects of the global economy,” Lawless said. “The industries that fuel our national GDP have been slower to make this transition, but with Cloud 3.0 there have been advancements in security and functionality that represent a huge investment opportunity. Companies that can scale will win.
The company is rolling out initial checks ranging from $500,000 to $5 million pre-seed through Series A companies, with founder-led engineering teams. Conversion Capital’s proven track record in its two previous funds will inform Fund III’s focus and investment activity:
- Wallet: seed investor in Ramp, Vesta, Figure, Braid, Blend, Wisetack, Booster Fuels and others
- Tracking Capital: $7 billion in follow-on capital was raised in its portfolio and $35 billion in total market cap created
- Exits: 17 portfolio company exits through acquisition or IPO
“We are focusing our capital on US and UK based companies that stand to benefit from macro tailwinds and global decoupling,” Lawless added. “Our experience gives us the conviction that the United States will remain the epicenter of innovation. Previous market corrections have proven that we have the most resilient economy in the world.
About conversion capital
Founded in 2015, Conversion Capital is a leading venture capital firm that seeks to partner with top entrepreneurs by leveraging software, cloud infrastructure and data technologies to solve the world’s toughest problems. ‘Mondial economy. Its diverse team of entrepreneurs, engineers, investors and operators has extensive experience building and investing through various market cycles in financial services, healthcare and national defense. For more information, visit our website or Linkedin.