Brad Bernstein, Managing Associate at FTV Capital — Non-public Fairness in Fintech | by Anirudh Singh | Wharton FinTech | Could, 2022


In at this time’s episode, I’m joined by Brad Bernstein, Managing Associate at FTV Capital, the place he leads investments in enterprise know-how & companies and monetary companies.

Brad and I cowl a variety of matters, together with:

What Drives FTV Capital’s Success:
Brad opened FTV’s New York workplace 19 years in the past. Since that point, the group has achieved unimaginable success together with closing a $2.3B fund earlier this yr. Brad credit 4 foremost ideas for FTV’s success: area experience, strategic community, proactive sourcing, and operational excellence. The group has been targeted on the intersection of enterprise know-how and monetary companies from its inception. This intense focus helped them turn into thought leaders within the area, and domesticate a community of working executives to drive worth for his or her portfolio firms. Extra lately, FTV has added a proprietary software program program to help in sourcing, serving to them actively observe 20,000 firms and communicate with 5,000 firms per yr. Lastly, FTV has additionally added an working group, FTV Propel, to assist founders apply finest practices all through the varied capabilities of their firms.

Choose Investments:
Brad and I dive deeper into three investments the group has made lately:

  • Enfusion: Enfusion is a supplier of totally hosted front- to back-office options for hedge funds and asset managers, together with execution, order administration, portfolio administration, threat, GL accounting, reconciliations, reporting and knowledge warehouse. FTV had a thesis across the want for higher know-how in asset administration, and recognized Enfusion as the one firm with an end-to-end software program resolution. The corporate went public final October at one of many highest multiples seen within the fintech panorama.
  • Plate IQ: Plate IQ was the primary funding out of FTV’s Fund VII. It’s a restaurant and hospitality accounts payable (AP) automation and funds platform. By leveraging its community, FTV was ready to herald a brand new chairman and CEO to assist the corporate attain new heights.
  • Paddle: Paddle is a Income Supply Platform for SaaS firms that powers speedy development throughout buyer acquisition, renewals and growth by enabling checkout, invoicing, funds and tax compliance in a single unified platform. Paddle is headquartered in London and focuses closely on multi-currency and cross-border choices.
  • LoanPro: LoanPro is a SaaS-based mortgage administration, servicing and collections platform for different, fintech and conventional lenders. The corporate was based by three brothers in Utah, who raised no institutional cash till working with FTV.
  • EBANX: EBANX is a cross-border cost processing firm that gives Latin American native cost strategies to worldwide retailers, enabling them to promote their services to Latin America. With the explosion of eCommerce over the previous two years, EBANX has been in a position to develop in a short time, turning into a powerhouse in Latin American funds.

Thrilling Developments in Fintech:
Brad highlights a few areas inside fintech that he’s significantly excited to see play out, together with low-code/no-code software program options, AI embedded in eCommerce options, embedded insurance coverage, and procurement outsourcing.

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Brad Bernstein:
Brad is managing companion and has been a development fairness investor at FTV Capital for over 18 years, main investments in enterprise know-how & companies and monetary companies. Brad has over 25 years of personal fairness expertise. Previous to FTV, Brad was a companion at Oak Hill Capital Administration and its predecessors the place he managed the enterprise and monetary companies group. He started his non-public fairness profession with Patricof & Firm Ventures and began his skilled profession within the funding banking division of Merrill Lynch in New York.

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In regards to the Creator:
Anirudh Singh is a second-year MBA Candidate at The Wharton College, the place he’s a part of the Wharton FinTech Podcast group. He has a ardour for financial growth, enterprise capital, monetary companies, and all issues FinTech. Don’t hesitate to succeed in out with questions, feedback, suggestions, and alternatives at singhan@wharton.upenn.edu.

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