Fasanara bags $200m fintech mandate from Canadian pension fund
London-based asset manager Fasanara Capital has won a $200m mandate from one of Canada’s largest pension funds to channel cash into fintech firms around the world.
The Bond Street-based investor, which has around $3.5bn assets under management and claims to be Europe’s largest provider of capital for fintech firms, said the new funds will be deployed via its alternative credit strategy and will flow into fintech lending platforms.
The fresh mandate comes after the firm bagged $350m for a new venture capital fund in May and provides a boost as it prepares to push into the US in the next few months.
Fasanara boss Francesco Filia said the backing from the Canadian pension giant marks “another major milestone for Fasanara”.
“This capital will help bolster our portfolio companies, by providing them with the certainty that they can access a range of financial products, should they need them,” he added.
“At a time when the wider capital market is experiencing such uncertainty, Fasanara’s portfolio companies know that they belong to an ecosystem which is strongly supported by some of the largest institutional investors in Europe and North America.”
The firm currently has a portfolio of equity exposures to 29 start-ups and scaling tech businesses, including Indian lender Stashfin, the Italian buy now pay later Scalapay, and tech rental firm Grover.
Fasanara declined to share the name of the pension fund, but Canada’s pension funds have been pushing into UK fintech and tech in the past few years and have backed a number of hefty investment rounds in the capital.
The Ontario Teachers Pension Plan, Canada’s third largest scheme with $242.5bn in assets, led a £210m funding round this year into consumer fintech Lendable yesterday via its Teachers’ Innovation Platform.
Ontario Teachers declined to comment on whether it was the fund involved in the deal.