GoKawiilFiat Ventures merges advisory and VC arms into FGV Capital, closes $35M Fund II
Fiat Ventures announced it is unifying its growth consultancy, previously known as Fiat Growth, with its venture investing arm under one new brand called FGV Capital. Alongside the rebrand, the firm closed a $35 million second fund focused on fintech's overlap with AI, healthcare and commerce, backed by LPs including Reinsurance Group of America, MassMutual and Bank of America. General partners Marcos Fernandez and Drew Glover said the two businesses will remain operationally separate despite sharing a brand.
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Combining advisory services with capital is a way for a smaller fund to differentiate itself in a crowded market where emerging managers often struggle to win LP commitments and cap table spots. The move also signals a broader trend of VC firms bundling operational support with checks to make their money more attractive than that of pure capital providers, though it raises questions about maintaining clear boundaries between advisory clients and investment decisions.
- Fiat Ventures rebrands as FGV Capital, merging its consultancy and venture investing divisions.
- The firm closed a $35 million Fund II targeting fintech's intersections with AI, healthcare and commerce.
- Backers include major institutions like MassMutual, Bank of America and Reinsurance Group of America.
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Published there as: “Fiat Ventures combines venture and advisory divisions into new brand, raises $35M Fund II”
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