FIRST RATE LAUNCHES $25M VENTURE CAPITAL FUND
First Rate Ventures is the first Dallas/Fort Worth-based FinTech-focused Venture Capital firm leading investments in high-potential companies in WealthTech, InvestTech, RegTech, and Innovative Technologies.
Arlington, TX – December 7, 2021 – First Rate, a leading provider of technology and services to the wealth management marketplace, today announced the launch of a corporate venture capital fund with a commitment to deploy $25 million in capital over the next three years. The fund will operate under the name “First Rate Ventures” and concentrate on investments and portfolio support for start-ups in seed stage building WealthTech, InvestTech, and RegTech companies using innovative technologies.
For more than 30 years, companies have relied on First Rate to deliver trusted and innovative technology to manage, build, and grow their trust, banking, and advisory businesses. First Rate Ventures builds on this commitment by investing in and supporting a broader ecosystem focused on similar challenges with the expertise, longevity, and trusted brand of First Rate behind it.
“I’m delighted to announce First Rate Ventures as another opportunity showcasing First Rate’s investment into innovation and expansion into new markets,” said First Rate President Craig Wietz. “We are excited to enhance our portfolio of solutions and partner with founders and entrepreneurs who share these goals to drive emerging and innovative solutions.”
Leveraging First Rate’s experience serving more than 500 Banks and Wealth Managers with more than $2.4 trillion in assets, First Rate Ventures will lead investments in seed stage start-ups with proven early traction, primarily targeting WealthTech firms in North America, Europe, and Asia. In addition to growth capital, First Rate Ventures will provide early-stage startups with strategic technology assets, connections to decision makers at top bank and wealth management firms, and a tier 1 bank-approved data security infrastructure to help accelerate their growth.
Behind the wheel will be 15-year veteran Marshall Smith, who has played pivotal roles driving First Rate’s product roadmap, global expansion, and most recently in the role as chief operating officer overseeing all operations and service units within First Rate. In addition, bringing more than 20 years’ experience in FinTech and venture capital, Prabhakar Reddy will serve as a strategic advisor to First Rate Ventures.
“First Rate Ventures is ultimately about investing in innovative firms that share our mission to help promote stewardship and growth. We will aim to deploy capital in a redeemed fashion, focusing on not only the entrepreneur but also the community they do business in and investors,” said First Rate Ventures Managing Director Marshall Smith. “With First Rate as our strategic backer, we are confident that our portfolio companies will deliver more value to their customers more effectively.”
Learn more about First Rate Ventures here.
About First Rate Ventures
With more than $25 million in capital, First Rate Ventures is dedicated to investing in innovative start-ups in strategic markets with a primary emphasis on wealth technology, investment technology, regulatory technology, and mortgage technology. By focusing on early-stage start-ups in North America, Europe, and Asia, First Rate Ventures offers start-ups expertise working with highly regulated industries and will serve as a strategic guide helping accelerate growth among the more than 500 banks and wealth management firms that currently utilize First Rate’s solutions globally.