London VC Felix Capital announced that it will use its latest raise of $300 million to continue to invest in digital lifestyle startups, while also looking to back consumer finance focused FinTechs.
The firm will also double its size with this new round of financing, which follows previous fundraises of $120 million when it launched in 2015, and $150 million in 2017. Felix currently has $600 million under management and 32 companies in its portfolio in eight countries, focusing primarily on early-stage investments in consumer brands (Anine Bing, goop, Highsnobiety, Mejuri, and Peloton), platforms (Deliveroo, Farfetch, Moonbug and TravelPerk) and B2B enabling technologies (Mirakl, Perfectstay, Unmind and Yoobic).
“We like to say we look for businesses that combine logic and magic,” Frederic Court, founder of Felix Capital, told Glossy.
The company explained in a blog post that 30–40 percent of its investments have been in B2B companies that target needs such as engaging with customers, transforming retail, managing employees in the age of mobile and the Millennial workforce.
Court added that his company will use some of this fund on later, growth rounds for companies within its existing portfolio, as well as outside of it. In addition, there are plans to use the latest round of funding to move into the FinTech space, investing in startups that focus on consumer finance.
“We see this as our prism of opportunity,” Court told TechCrunch. “Just as we had the intuition that there was a space for investors looking at [DTC]… we now think there is enough evidence that there is demand from consumers for new ways of dealing with money and personal finance.”
Felix has also recently brought on a CFO, David Oglesby, formerly with Bridges and BC Partners, and two new advisers: Thijn Lamers, former EVP Global Sales of Adyen, and Andrew Robb, formerly COO at Farfetch.
Right now, its investment and advisory teams are made up of 24 people, and there are plans for two additional hires. Felix is looking for a candidate based in London but active in the U.S. The company might even choose someone in the community-marketing ecosystem.