IRVINE, Calif., March 02, 2022 (GLOBE NEWSWIRE) -- Austin Capital General Partners, LLLP (“Austin Capital”) announces its strategic acquisition of Candor Ventures, a venture studio and fund focused on early-stage venture investments and incubations.
"We are so excited to welcome a team with a proven track record, deep founder relationships and unique product experience to this fast growing vertical. It's a win for us and the fintech industry as we work to bring companies to market that cater to consumers and financial institutions alike," said Michelle Crames, Managing Partner of Austin Capital.
Austin Capital is uniquely positioned in identifying and funding the greatest founders and pairing them with world-class technology. Austin Capital’s FinServ-as-a-Service platform offers competitive advantage with speed to market and mitigation of technical debt for Austin Capital portfolio companies.
Noah Berkson, Managing Partner of Candor Ventures said, “The opportunity to be a tech enabled venture fund which can offer fintech companies infrastructure, engineering resources, banking, compliance, lending and capital is the most differentiated value add and strategic advantage I’ve ever seen.”
David Park, Founder and Chairman of Austin Capital added, “In order to create such a unique ecosystem – a fund + tech stack + staffing – you need an experienced team that has been through start-up building environment, with deep expertise in technology and financial services. We have been utilizing this model to build a well curated list of portfolio companies over the last 4 years and I am excited to have the Candor Venture team to accelerate our venture studio.”
About Austin Capital General Partners, LLLP
Austin Capital General Partners, LLLP, a Southern California-based venture firm managing a fintech focused $125M fund along with a venture studio and a digital alternative investment platform. Its founder and partners have an average of 16 years of experience in financial services, technology development, and decentralized finance.
www.AustinCapital.Partners
About Candor Ventures
Candor Ventures is a venture studio and fund focused on early-stage venture investments and incubations. Candor invests engineering teams and capital into technology companies focused on shaping the future.
www.candorventures.io
If you would like additional information, please contact John Alvarez at (214) 624-1022 or jalvarez@usdailyjournal.com.
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/15c9498e-7d8d-4714-851c-56e9bbd84e97
