We rank top fintech investors by the number of fintech unicorns in their portfolios as well as the stage at which they first provided capital.
But what about the investors behind them?
Using CB Insights data, we dug into which investors have backed the most billion-dollar fintech startups — and which are poised to gain the most if their portfolio companies manage exits on par with their huge private market valuations.
Top overall fintech unicorn hunters
Fintech-focused VC firm Ribbit Capital takes the overall top spot as the most active investor in fintech unicorns, with 10 companies in its portfolio attaining at least $1B valuations.
In total, Ribbit has invested in 41 fintech startups — meaning 24% of its fintech portfolio has reached unicorn status. Most recently, these include India-based financial comparison startup PolicyBazaar and UK-based digital challenger bank Revolut.
In second place is QED Investors with 6 fintech unicorns. Tied for third place are Andreessen Horowitz, SV Angel, DST Global, and Institutional Venture Partners, all of which hold stakes in 5 unicorns.
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Four investors currently count 3 fintech unicorns in their portfolio: Kleiner Perkins Caufield & Byers, Google Ventures, Thrive Capital, and General Catalyst.
While these top investors have been able to find and invest in promising companies, that does not ensure massive returns, as this ranking does not take into account the round at which the investor entered. DST, for example, has primarily first invested at the growth stage.
Top Early-stage fintech Investors
Investors that back these unicorn startups in early-stage funding rounds stand to gain more from potential future exits. Here are the firms that invested at seed and Series A rounds in fintechs that went on to gain $1B+ valuations.
Index Ventures and SV Angel share the top spot, each with 4 early-stage fintech investments that have grown into unicorns.
Funding Circle (whose Series A was led by Index) is reportedly planning an IPO for later this year. This exit could continue the trend of strong exits by Index portfolio companies: the firm invested in Europe’s two largest VC-backed fintech exits ever, backing iZettle (acquired by PayPal for $2.2B) and Adyen (which went public in a $8.4B IPO just last month).
QED Investors, which recently saw the $4.2B IPO of portfolio company GreenSky, counts early investments in Brazilian digital bank Nubank and credit monitoring service Credit Karma, as well as investments in alternative lender SoFi and payments automation company AvidXchange.