SoFi’s Ex-Venture Head Logan Allin to raise $150 million to invest in Fintech start-ups

Logan Allin, is the Ex-head of ventures and corporate development at Social Finance Inc. He is currently planning to raise $150 million in order to start a Fintech fund. He plans on utilizing this fund in order to invest in Fintech start-ups in US as well as in other countries like Israel and even in Europe.

Advisors to the fund:

A former chief executive officer of social Finance Inc, Mike Cagney will be the advisor to the firm. Allin had joined the social Finance Inc in 2017. He recently resigned when the board shelved the plant to start a venture capital fund.

The other advisors whom he has hired include Peter Early, Todd Ruppert. Both of them have a respected position in various asset management companies. Currently, Allin is the only managing partner. However, he is open to the idea of hiring board partners in the future.

Fin Venture Capital, however, did not issue any statement about the fund. Cagney also managed to raise $ 50 million for his new company figure ever since he left social Finance Inc. He plans to provide quick loan disposal services with the help of this company. Fin Venture Capital intends to invest in his new company. However, there is no official statement from any of the companies in this regard.

Investors eager to invest in Fintech Sector:

With many companies looking to invest in Fintech start-ups as well as Fintech funds, there is no dearth of investors. It remains to be seen how much amount of money, Allin is able to raise eventually. The venture firm which is investing in his company is also looking to invest in many of the Fintech-based sectors like blockchain companies, cryptocurrency companies. As a result, the number of investments in the sector are increasing on a consistent basis.

It remains to be seen the companies in which Allin invests in with the help of this fund. Up until now, there have been no investment announcements made as he still raising funds for his Fintech fund.

With the Fintech sector expanding at a rapid pace, it comes as no surprise that many executives are launching their own Fintech fund. Also, the opportunities in the Fintech sector are plenty. As a result, a significant amount of money can be easily invested in the Fintech sector. It remains to be seen what kind of returns are provided by the Fintech sector in the future. For now however, the investors are lining up consistently to invest in the Fintech sector. Source: Bloomberg

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