A D.C. venture capital fund targeting fintech startups around the globe has surpassed the halfway mark toward its goal of raising $80 million in new investment capital.
Accion Venture Lab Fund II LP has raised $41.25 million since Jan. 26, according to a document filed with the Securities and Exchange Commission.
It has landed 15 investors so far with an average of $2.75 million, per the document. The minimum investment accepted is $250,000.
The fund's 15th Street NW address is the same as the headquarters of Accion International, a nonprofit headed by Michael Schlein working to provide digital financial offerings to underserved populations around the globe.
John Fischer, who serves as the chief investment officer of Accion International, is the listed signatory of the document. Other names on the document include Accion Venture Lab Managing Partners Amee Parbhoo and Rahil Rangwala.
Fischer did not respond to multiple requests for comment. A spokesperson for Accion International declined to comment.
Per Accion Venture Lab's website, the early-stage investor provides seed-level capital to for-profit fintech startups working to address the financial needs of people who, at a global level, are typically left underserved.
To date, the lab has backed more than 65 startups operating in over 30 countries with a focus on startups located in the U.S. as well as those based in Latin America, the Caribbean, the Middle East, North Africa, sub-Sahara Africa and Southeast Asia. As of Dec. 31, 2022, Accion had $515 million in assets under management.
The capital raised for the Accion Venture Lab Fund comes amid a flurry of recent deal flows this month for Greater Washington funds looking to back startups.
Last week, D.C. investment firm Accolade Partners closed on more than $1 billion across three new funds. The capital will be deployed toward tech and health care startups.
Washington Harbour Partners LP, an Arlington-based private equity firm, raised more than $20.2 million across two funds focused on making investments relating to artificial intelligence earlier this month.
And Halcyon Venture Partners, a firm spun off from Georgetown startup accelerator Halcyon, recently raised its first investment toward a $50 million fund that's working to support social impact startups.
