Fiat Ventures combines venture and advisory divisions into new brand, raises $35M Fund II

Fiat Ventures has announced the launch of its new venture capital brand, FGV Capital, which will merge its growth consultancy and venture divisions. The fintech-focused firm's general partners, Marcos Fernandez and Drew Glover, revealed that the decision to consolidate the businesses aims to better assist founders with their go-to-market strategies.

The consultancy division, operating under the Fiat Growth moniker, has supported startups in scaling, business development, and go-to-market strategies while also providing access to an extensive network of industry executives. By combining the venture and advisory sides, Fernandez and Glover anticipate increased exposure and growth opportunities for portfolio companies and their investors.

Despite operating as separate entities, the two divisions will maintain clear processes to ensure that business relationships do not influence investment decisions. Fund II, FGV Capital's second fund, is a $35 million investment vehicle that focuses on fintech's intersection with AI, healthcare, commerce, and other industries. LPs in Fund II include the Reinsurance Group of America, MassMutual, and Bank of America.

The firm seeks to attract LPs and startups by offering business guidance and connecting portfolio companies with potential partnership opportunities. FGV Capital has already invested in companies such as Wagmo and Possible Finance, with plans to provide $1 million to $1.5 million in funding to at least 25 companies over the next two years.