Largest fund in the firm’s twenty-three year history will include core and exploratory investments in payments, banking, embedded finance, and more

TTV Capital, an early-stage fintech venture capital firm, today announced that it has closed its sixth fund at $250 million, the largest since the firm was founded over two decades ago. The fundraise, which originally targeted $150 million, saw overwhelming interest and was oversubscribed by $100 million. Fund VI includes both new and existing limited partners comprising institutional and strategic investors, as well as family offices.

“Fund VI represents an inflection point for all of us at TTV Capital,” said Gardiner Garrard, Co-Founder and Managing Partner at TTV Capital. “Twenty-three years ago, we took an early bet on how the technology behind financial services would evolve. Back then, we didn’t call it ‘fintech’ – we just started investing in applications that were being built on the internet. We saw the digital transformation that was happening and we knew we wanted to be part of it. And now, as we look ahead, we’re still committed to finding the next class of enduring businesses that will shape the future of finance.”

In 2022 alone, TTV Capital made 18 investments in early-stage fintech companies across payments, banking, investing, cybersecurity, Web3, and embedded finance, with an average initial check size of $2 million to $7 million. The firm also has an exploratory fund for investments starting at $250,000. To date, TTV Capital counts more than 100 financial technology companies in its portfolio, and seven of those have reached unicorn status.

“Founders often tell us that our relationships, connections, and deep industry knowledge are most helpful to them as they grow their businesses,” said Sean Banks, Partner at TTV Capital. “It’s a privilege to do what we do, and we’re especially proud of the reputation that we’ve built as a founder-friendly firm. We believe our fintech expertise and years of experience in venture capital are the reasons why we’ve been able to drive strong returns for our limited partners amid different economic cycles.”

TTV Capital is one of the first and only early-stage fintech funds focused exclusively investing in companies in the financial services ecosystem. The firm has led early investments in multiple category-creators, including Bill.com, Shopkeep, Green Dot, SmartAsset, and others. TTV Capital is also one of the largest – and longest-running – venture firms in Atlanta, and has backed multiple successful Atlanta-based companies, including Greenlight, Cardlytics, Greenwood, Carputty, Featurespace, and Instant.

About TTV Capital

Founded in 2000, TTV Capital is one of the longest-running venture capital firms investing exclusively in early-stage fintech companies. We create enduring value for our investors, founders, and team by supporting our portfolio companies at every stage of growth. Our distinct approach combines deep industry knowledge with connections, resources, and founder-friendly relationships. TTV’s portfolio includes more than 100 market leaders and emerging pioneers across payments, banking, investing, crypto, and embedded finance. The firm has been named to Inc.’s Founder-Friendly Investors list, the top ten of the Founder’s Choice VC list, and Institutional Investor’s Fintech Finance 40.

TTV Capital is headquartered in Atlanta and has a presence in the Bay Area. For more information, visit www.ttvcapital.com.

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SOURCE TTV Capital

• Social Startups supported by AIC-IIITH, IIITH’s social incubator have won INR 2.5 Cr funding support from Government of India and showcased at various G20 startup meetings.
• Two startups from green energy and animal husbandry space have been selected for INR 1 Cr each from AIM, NITI Aayog’s ANIC and accessibility tech startup for INR 50 lakhs of BIRAC’s BIG grant.
• AIC-IIITH, which supports tech-based Social Startups has supported 41+ social startups and facilitated creation of 300+ jobs and INR 2+ Cr of funding.

We need to move toward achieving sustainable and inclusive growth to help India achieve UN Sustainable Development Goals (UN SDGs). As part of this Atal New India Challenge (ANIC) a flagship program of Atal Innovation Mission (AIM), NITI Aayog, has selected AIC-IIITH’s Social Startups Jivoule Biofuels, a Hyderabad-based green energy company and Verdant Impact, a Jaipur-based animal husbandry platform for funding of INR 1Cr each. This amount will be disbursed after the startups successfully complete the due-diligence process.

A big part of achieving SDGs also included supporting People with Disabilities. Recognizing this, AIC-IIITH’s SunQulp Tech has been selected for a grant of INR 50 Lakh from Biotech Ignition Grant (BIG), the largest early-stage biotech funding programme in India. BIG is the flagship programme of Biotechnology Industry Research Assistance Council (BIRAC), Department of Biotechnology.

AIC-IIITH’s vision is “Catalyzing Sustainable Development Goals (SDGs) using technology to become a thought leader in the space of technology for social impact.” This aligns with ANIC’s aim “to seek, select, support and nurture technology-based innovations that solve sectoral challenges of national importance and societal relevance.” Similarly BIG which seeks ‘provides the right admixture of fuel and support to young startups and entrepreneurial individuals’ align with AIC-IIITH’s goals to “Validate prototypes and business models to help move India ahead in achieving the U.N. SDGs.” Thus, AIC-IIITH’s tech-based social startups are a perfect fit for these programmes.

Jivoule Biofuels founded by Chandrasekhar Nandigama is working to set up a compressed biogas plant in Hyderabad. They recently started operating a biogas-based power generation plant in Tirupur.

Verdant Impact run by Founder and CEO Manish K. Prahlad is a full-stack animal husbandry platform. The platform provides farmers with backward and forward linkages for purchase and sale of livestock and services like Animal ICU, a digital livestock healthcare ecosystem.

SunQulp started by the team of Amit Panwar (Founder) and Dushyant Kumar (Co-Founder) have created SmartVest, a low-cost, one of its kind, unique navigation solution for the visually impaired people to help them in their movement. It is a wearable vest that guides the wearer while walking by talking to them in human voice and gives them real-time information about their path and the obstacles to avoid, helping them go places with confidence.

Congratulating the Startups, Prof. Ramesh Loganathan, Director of AIC-IIITH said, “This financial investment by AIM and BIRAC in AIC-IIITH startups validates and reaffirms our approach of seeking to support the use of technology by social entrepreneurs to tackle pressing social and environmental challenges faced by India.”

Jivoule Biofuels was part of AIC-IIITH’S Raftaar – Covid Acceleration Program supported by EPAM Systems as part of its ESG commitment. Verdant Impact and SunQulp Tech are part of the 3rd cohort of Akash, AIC-IIITH’s Flagship Incubation Program.

AIC-IIITH’s Startups Jivoule Biofuels, Verdant Impact and Next Skills 360 were also part of various G20 startup meetings organized by the government across India.

AIC-IIITH Foundation, social tech incubator of IIITH, runs multiple cohorts of social startups under various programs like Akash, flagship incubation program and Dhanush Micro Incubation program. AIC-IIITH has also run programs funded by various corporate partners like EPAM, HDFC and Pernod Ricard India Foundation, providing grants to startups. Till date AIC-IIITH has supported 41+ startups, created 300+ jobs and facilitated INR 2+ Cr of funding in diverse social impact sectors like Medtech, Agritech, Greentech, Climate, Edtech etc. AIC-IIITH startups raised INR 75+ cr in funding till date.

About AIC-IIITH Foundation is an Atal Incubation Center set up exclusively for incubating and supporting tech-based social enterprises. It seeks to deploy entrepreneurial energy and technological innovation for social impact to help India achieve the SDGs. Supported by the Atal Innovation Mission, NITI Aayog, Government of India, AIC-IIITH FOUNDATION also seeks to nurture the social enterprise ecosystem by acting as a platform for sharing ideas and insights. With over 10,000 sq. ft space consisting of co-working spaces, conference room, meeting space and other facilities, AIC-IIITH FOUNDATION aims to provide collaborative space to entrepreneurs. These benefits are further enhanced by the multiplying effect of agglomeration effects and network effects of being situated in the Centre for Innovation and Entrepreneurship (CIE), IIIT-Hyderabad, which is a cluster of incubation centers, research labs and resources.

About CIE IIIT Hyderabad: IIIT Hyderabad is the first IIIT to be set up in the country, in 1998. IIIT Hyderabad is a research university that ranks in the country for research in various areas of computer science. IIITH also strongly emphasises on translating research into products and startups. To enable this, the Centre for Innovation & Entrepreneurship (CIE) was set up in 2008, which has since grown to be the largest academic incubator in the country. The Centre has very active programs across the spectrum of a startup journey. Entrepreneurship courses and workshops for students, Product Labs to seed new products from research, a pre-incubation program to help entrepreneurs create new startups, incubation to nurture early-stage startups, mentoring programs to improve strategy and business development of the startups, investor pitch days, and several talks/workshops from experts and successful entrepreneurs. CIE-IIITH was supported by DST (TBI) and MeitY (TIDE) in the initial years. Today, there are very active programs focused on emerging technology startups, research-based startups, medical technologies, and social technology startups. In the past 14 years, CIE has housed over 450+ startups that have raised about 250 Cr funding and created over 2500 jobs.

The 5G security market is projected to reach USD 24.89 billion by 2030 at a mammoth CAGR of 40.60%, according to P&S Intelligence.

This growth can be credited to the increasing worries for the security of the 5G network, because of the surging number of attacks on them, and the growing need for quick network connectivity.

Furthermore, the chances for growth are projected to rise with the requirement of corporate companies, the government, and the manufacturing sector for private 5G networks and the increasing operator expenditure on dynamic infrastructure.

MVNOs Concentrating on Shielding Carrier Networks 

The sudden hike in the count of network attacks has forced several operators to concentrate more on safeguarding their carrier networks. For example, in 2017, O2 Telefonica of Spain employed 660 analysts and 1,100 other personnel to work at six security operation centers throughout the globe, in the wake of a bank heist.

Services Category Is Set To Grow at Faster Pace

In the coming few years, the services category is projected to grow faster, at a rate of approximately 41.2%. Among end users, service need has amplified with the advancing technological trends. The security of the 5G network needs to be managed at all stages of implementation and operation, as it is new to companies and telcos.

Security Need Is Higher for 5G NR Non-Standalone Architecture

In 2022, the 5G NR Non-standalone architecture category held the larger market share, of above 64.0%. The first few 5G networks rolled out are all non-standalone setups, which focus more on advancing the broadband, to offer better and steady connectivity and improved information transmission capability.

They also adhere to the 3GPP’s guideline that early 5G network and device rollouts be subject to NSA action. As a result, the existing 4G frame will support the 5G network.

Thus, as the acceptance of 5G surges, companies that are required to be the first to provide 5G connectivity will comply with the NSA’s mandates. Due to such factors, the 5G NR non-standalone architecture is cost-efficient, which is why companies are keener to spend on 5G security systems that utilize a non-standalone architecture.

North America Secures 5G Networks Most Extensively 

North America is leading the industry because vital 5G technology enhancements have been made and several steps taken to prevent data leaks in the continent. Additionally, spectra for 5G are being awarded rapid throughout the region for both the low-band and high-band ranges.

Demand for 5G Security Solutions To Boom in APAC

The APAC region will be one of the fastest-growing markets for 5G security solutions because of its huge mobile subscriber base and the government efforts to roll out fifth-generation networks.

About P&S Intelligence

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