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Alternative Assets  + VC  |  August 16, 2023
VC Fintech-Focused Ribbit Capital Leaps Ahead with $800M for 10th Fund
Joe Palmisano
By: Joe Palmisano

VC Fintech-Focused Ribbit Capital Leaps Ahead with $800M for 10th Fund

Ribbit Capital, a fintech focused venture capital firm, raised about $800 million for its tenth fund, Ribbit X, according to a regulatory filing with the US Securities and Exchange Commission.

The Palo Alto, CA-based firm previously raised $1.15 billion for its Fund VII vehicle in early 2022, nearly triple the $420 million raised for its sixth fund two years earlier.

Investors in the new fund include the Canada Pension Plan Investment Board.

Founded in 2012 by Meyer “Micky” Malka, Ribbit Capital invests globally in companies who are aiming to “disrupt financial services”, according to the firm.

Ribbit was part of a $900 million fundraising round for the now defunct FTX in 2021 that valued the company at $18 billion and committed more capital through a $420 million round later that year.

Other recent Ribbit investments have included Indian digital payments and financial services company PhonePe, while its previous investments have included stock trading app RobinHood, Coinbase and financial lender Affirm.

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About Joe Palmisano

Joe Palmisano is editorial director of Connect Money, where he oversees daily coverage of alternative assets, direct investments, financial advisory and the economy. He brings three decades of experience as a financial journalist, analyst and portfolio manager. Before joining Connect Money, Palmisano wrote for The Wall Street Journal, covering foreign exchange, global fixed-income and equity markets. He later served as a senior research analyst and portfolio manager, producing market analysis and managing foreign exchange and U.S. equity portfolios for FX Concepts. His work has also appeared in SFO Magazine and CMT Association publications. Palmisano earned a bachelor’s degree in finance from The American University and holds the Chartered Market Technician (CMT) designation and is a member of the CFA Institute.
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