< Fintech's Most Powerful Dealmakers of 2016

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7. Richard
Garman &
Brad Bernstein
Managing Partners
FTV Capital
Last year: 6

Founded in 1998, Financial Technology Ventures made its first investment the following year, in pioneering online investment adviser Financial Engines, which went public in 2010 and today has a market valuation of $1.7 billion. In June of this year, the San Francisco–based firm now known as FTV Capital invested in its 92nd portfolio company, leading a $30 million growth equity commitment for information-security services provider ReliaQuest. Up to that point FTV had raised a total of $1.8 billion in four funds, and on September 26 it announced the close of the oversubscribed, $850 million FTV V fund. All along the firm has followed “an institutionalized model that enables us to deliver consistent returns for our limited partners,” says managing partner Richard Garman. Its longevity and consistency make FTV a trailblazer, not just as a financial-technology-specific investor, predating by a decade the boom now defined as fintech, but also as a connector of incumbent institutions with emerging technologies. Those connections are organized through FTV’s Global Partner Network, which includes its limited-partner roster of major banks, asset managers, and insurers, and has facilitated more than 400 contracts for portfolio companies. “We have always been advocates of evolution rather than revolution” and “enterprise-facing rather than consumer-facing” ideas, says Garman. The 59-year-old was CEO of three technology companies, including banking industry joint venture Electronic Payment Services, before joining FTV soon after its founding by James Hale and Robert Huret, who came out of Montgomery Securities. “Incremental improvement” is valued over fads and hype, Garman adds, and the entire strategy is predicated on “existing players applying these great new technologies in their footprint.” That’s not to say FTV isn’t up on the very latest. “We speak to 3,000 companies a year to find at least 100 to take a hard look at, and then we invest in four or five,” explains Brad Bernstein, 49, who has headed FTV’s New York office since 2003 and was promoted to managing partner in May. The firm’s deal-size range of $20 million to $85 million is geared toward companies with profitable business models producing $10 million to $100 million in revenue and growing at least 20 percent a year, but by casting a wide net, 32-person FTV keeps an eye on up-and-comers that may eventually benefit from its capital and collaboration. Also new to the portfolio this year: foreign exchange technology company Edgewater Markets and U.K. wealth management platform True Potential; Bernstein sits on both boards.


 
The 2016 Fintech Finance 35


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1. Jonathan Korngold
General Atlantic

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2. Matthew Harris
Bain Capital Ventures

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3. Jane Gladstone
Evercore Partners

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4. James Robinson III & James
Robinson IV
RRE Ventures

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5. Steven McLaughlin
Financial Technology Partners

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6. Amy Nauiokas & Sean Park
Anthemis Group

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7. Richard Garman &
Brad Bernstein
FTV Capital

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8. Gerard
von Dohlen
Broadhaven Capital Partners

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9. Darren Cohen
Goldman Sachs Group

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10. Hans Morris
Nyca Partners

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11. Meyer (Micky) Malka
Ribbit Capital

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12. Maria Gotsch
Partnership Fund for New York City

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13. Barry Silbert
Digital Currency Group

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14. Jay Reinemann
Propel Venture Partners

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15. Mariano Belinky
Santander InnoVentures

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16. Justin Brownhill & Neil DeSena
SenaHill Partners

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17. François Robinet
AXA Strategic Ventures

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18. Vanessa Colella
Citi Ventures

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19. Michael Schlein
Accion International

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20. Kenneth Marlin
Marlin & Associates

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21. Rumi Morales
CME Ventures

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22. Alastair (Alex) Rampell
Andreessen Horowitz

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23. Steve Gibson
Euclid Opportunities

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24. Fabian Vandenreydt
SWIFT

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25. Vladislav Solodkiy
Life.SREDA

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26. Gardiner Garrard III
TTV Capital

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27. Nektarios Liolios
Startupbootcamp Fintech

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28. Lawrence Wintermeyer
Innovate Finance

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29. Bina Kalola
Bank of America Merrill Lynch

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30. Hyder Jaffrey
Fintech Innovation

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31. Calvin Choi
AMTD Group

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32. Janos Barberis
FinTech
Hong Kong

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33. Jalak Jobanputra
Future Perfect Ventures

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34. Sopnendu Mohanty
Monetary Authority of Singapore

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35. Oskar Mielczarek
de la Miel
Rakuten
FinTech Fund