Main Set, a London-based venture capital firm specialising in fintech, has secured £14 million in commitments for its first fund, following its launch in late 2024.

The fund, anchored by Capricorn Capital Partners, is targeting a final close of £40 million and will invest in Fintech and adjacent SaaS businesses.

The announcement marks a new chapter for Main Set, which has previously operated on an investment-by-investment basis.

The launch of its first blind pool fund is a move to formalise and scale its approach, in response to continued interest in Fintech from limited partners seeking exposure to the sector.

“We’re excited by the interest in our growing platform, bringing additional capital to our deployment capabilities at a time where the pipeline of high quality Fintechs is incredibly strong,”

said Ioto Iotov, Founder and Managing Partner of Main Set.

“We appreciate the support of existing and new investors, and will continue to follow our disciplined investment process as we capitalise on the investment opportunity in these large and fast growing verticals.”

Main Set’s four current portfolio companies, Anyfin, Sprout.ai, WealthOS, and Databento, will serve as the fund’s initial seed portfolio. This early deployment is expected to help shorten the time to liquidity for investors.

The firm applies a systematic, data-led investment strategy, focusing on businesses that address defined challenges and demonstrate robust business models, solid unit economics, and potential for long-term growth.

In addition to capital, Main Set provides operational support through its team’s sector-specific expertise in Payments, Insurtech, Wealthtech, CFO tools, and Neobanking/Neolending.

This approach aims to support sustainable and scalable growth among portfolio companies.

Commenting on the firm’s support, Mikael Hussain, Co-Founder and CEO of Anyfin, said:

“Anyfin operates in a field that to many investors is not intuitive, making it a delight to meet people who understand the business model, market dynamics and what it takes to win in Fintech. Ioto and the Main Set team have been value-additive partners since investing, who understand what it takes to achieve success.”

Main Set is supported by a network of eight venture scouts and a dedicated venture partner, all of whom bring experience from the fintech and financial services sectors.

The firm expects to expand this network as fundraising progresses.

Main Set is part of Capricorn Capital Group, a global private investment firm with operations in over 13 countries.

This affiliation gives the fund access to broader institutional resources and sector experience.

The fund will continue to be led by Iotov as General Partner, with plans to invest in further Fintech and SaaS businesses in the coming months.

Featured image credit: edited from freepik