Fiat Ventures combines venture and advisory divisions into new brand, raises $35M Fund II

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Fiat Ventures combines venture and advisory divisions into new brand, raises $35M Fund II Dominic-Madori Davis 5:37 AM PDT · August 25, 2026 Fiat Ventures on Tuesday said it is combining its growth consultancy and venture divisions under a new brand, FGV Capital, alongside the launch of its second fund, a $35 million vehicle.

The fintech-focused firm's general partners, Marcos Fernandez and Drew Glover, told TechCrunch that the decision to combine the businesses was to help founders, whether part of the firm's portfolio or otherwise, with their go-to-market strategies.

Operating under the Fiat Growth moniker, the consultancy business previously offered startups help with scaling, businesses and go-to-market strategies. It also provided clients access to its network of industry executives — and that overlap is where Fernandez and Glover see potential for more exposure and growth.

Glover said combining the growth consultancy with the venture firm has already helped them win spots on startups' cap tables because founders realize they could access the advisory network, too, if they take money from FGV. He stressed that the consultancy business and the investment vehicle will operate as separate entities, and said “clear processes” are in place to ensure business relationships don’t bias investment decisions.

“The goal is to use the broader FGV infrastructure to give our investment team better information and deeper context, not influence the outcome,” Glover said.

Glover said Fund II's thesis centers on fintech's intersection with areas like AI, healthcare, commerce and other industries. It took FGV about 18 months to raise this new fund, and the duo said they sought a mix of LPs who “could do more than provide capital,” such as offering business guidance to its portfolio companies. LPs in this fund include the Reinsurance Group of America, MassMutual, and Bank of America.

In a venture environment where emerging fund managers struggle to attract LP attention, FGV is betting that its combined model can help it lure LPs and startups, and deliver better returns. Glover said FGV also has a program to help the portfolio companies of its LPs scale, and said it also connects LPs with companies from the advisory side of the business for partnership opportunities.

“That’s where the full-stack model becomes powerful,” Fernandez said. “Companies we invest in can become clients we help scale. Companies we work with can become investments. LPs can become customers or partners to the portfolio. The different parts of the ecosystem can create value for one another while still operating independently.”

The fund will cut checks worth $1 million to $1.5 million into at least 25 companies (it’s already backed 13 so far) over two years. The firm previously raised a $25 million first fund. Overall, the firm has already backed around 40 companies, which include pet insurance company Wagmo, and the loan agency Possible Finance.

“The goal is to build an ecosystem where capital, distribution, and relationships compound and where founders and investors have more ways to win together,” Fernandez said.

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Dominic-Madori Davis Senior Reporter, Venture

Dominic-Madori Davis is a senior venture capital and startup reporter at TechCrunch. She is based in New York City.

You can contact or verify outreach from Dominic by emailing [email protected] or via encrypted message at +1 646 831-7565 on Signal.

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