Commerce Ventures Raises $60 Million Fund III to Continue Investing in Retail and Financial Services Sectors

Commerce Ventures, a leading venture firm focused on technology innovations in the fintech and commerce ecosystems, today announced it has closed its third fund with over $60 million in committed capital. The fund’s limited partners are comprised of strategic individuals who have run some of the largest companies in retail, payments, banking and insurance. Corporate investors include one of the largest payment networks in the world, one of the largest insurance companies in the US, one of the most respected banks in the US, and the leading providers of financial technology to banks, consumers and small businesses.

“We launched because we saw the opportunity to be the first venture firm focused on critical, enabling platforms for our sector, rather than direct-to-consumer challengers,” said Dan Rosen, founder and general partner of Commerce Ventures. “We’ve believed in this strategy since Day 1, it has guided our investing along the way, and we’ll remain consistent in our approach as we invest out of this new fund.”

Commerce Ventures makes investments in early-stage companies as a strategic, non-lead investor and leverages its expansive network of founders, investors, and corporate partners to help its companies find customers, partners, and key advisors. Commerce Ventures’ unique sector focus and network complements the efforts (and often larger checks) of its co-investors. Commerce Ventures’ advisor network includes industry pioneers and key executives from iconic market leaders, including Ascena, Capital One, CheckFree, Citi, CyberSource, Express, Intuit, JP Morgan Chase, MetLife, Northwestern Mutual, PayPal, and many more.

“They have the pulse of FinTech and are very well connected in the space,” said Jason Gardner, CEO of Marqeta. “The firm can help with everything from connections to opinions and they give you the time you need to make the best informed decisions.”

The firm has invested in companies powering innovation for every phase of the consumer financial lifecycle, referred to collectively as the Commerce Continuum. This includes technologies that influence how consumers shop, spend, save, and secure their financial lives. Investments include Marqeta, Bill.com, Narvar, Forter, Socure, MX, Shoptalk, and many others. There are currently 19 companies in the portfolio worth more than $100 million and two valued at more than $1 billion. 

The team at Commerce has also grown significantly recently, and is now almost triple the size it was at the close of Fund II. The team brings decades of investing  experience at firms such as Highland Capital Partners, Morgan Stanley, and Harbourvest Partners and operating experience at Citigroup, Vantiv (now Worldpay), Sephora, and FT Partners.

In conjunction with today’s announcement, Commerce is also unveiling its new brand and website. For more information, visit commerce.vc

About Commerce Ventures
Commerce Ventures is a leading venture firm focused on technology innovations in the FinTech and Commerce ecosystems. Thus far, the firm has invested in over 60 portfolio companies, including leading FinTech and retail technology startups such as Bill.com, Forter, Grabango, InAuth, Kasisto, Marqeta, MX, Narvar, RetailNext, SessionM, Snapsheet, Socure, and Theatro. For more information, visit commerce.vc.
 

Contact Information

James Christopherson

PR Manager

Commerce Ventures

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