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Illuminate Financial announces investment from Citi LeapRate

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Fintech-focused venture capital firm Illuminate Financial today revealed it has received strategic investment from Citi.

Citi joins existing investors in Illuminate Financial which include Jefferies, J.P. Morgan, Deutsche Börse Group and S&P Global as a limited partner in its venture capital strategy.

So far, Citi has co-invested in eight of Illuminate’s portfolio companies – Arteria AI, TransFicc, CloudMargin, Privitar, Genesis Global, Talos, Cosaic and Blockdaemon.

Founded by veteran finance executive Mark Beeston and operated with partners Alexander Ross and Rezso Szabo, Illuminate Financial has made investments across financial services including digital assets infrastructure, climate and ESG, data and private markets, as well as broader enterprise solutions that target the sector. To date, the venture capital firm has invested in over 30 companies.

Sandeep Arora, Head of Digital and Chief Investment Officer of Citi’s Institutional Clients Group, said:

Citi has a strong track-record of partnering with FinTechs to build digital solutions for our clients and believe this strategic investment will provide earlier visibility into new technologies and complement our direct investing program.

Mark Beeston, Founder and Managing Partner of Illuminate Financial, added:

Citi has been an aggressive adopter of the innovative solutions offered by FinTechs and an active direct investor in 25% of our portfolio companies since we launched Illuminate’s first fund in 2015. We are delighted to now add Citi to our roster of strategic investors, helping further catalyse enterprise FinTech adoption to the benefit of the whole eco-system.

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