Ribbit Capital (company)
Ribbit Capital
Limited Partnership[1]
Industry Venture Capital
Founded 2012
Founder Meyer 'Micky" Malka
Headquarters Palo Alto, California, U.S.
Key people
Meyer Malka, Nick Shalek, Nikolay Kostov[2]
Website ribbitcap.com

Ribbit Capital, founded in 2012, is a global venture capital firm focused on fintech (financial technology).[3][4] As of 2015, Ribbit had raised $446 million, the fourth-largest amount of money raised among U.S-based venture capital firms started since 2012.[3]

History

The firm was founded by Meyer 'Micky" Malka, a Venezuelan serial entrepreneur,[3] who co-founded the online brokerage Patagon, which sold to Banco Santander SA for $750 million in 2000.[4] In 2015, Malka was the only Latin American founder among the top 20 United States-based venture capital firms.[3]

Ribbit focuses on technology companies involved in lending, payments, insurance, accounting, tax preparation and personal financial management.[1] It generally invests between $2 million and $15 million in early stage financial start ups.[5]

The firm has invested mostly in companies headquartered in the United States, Latin America, and Europe;[3] between 2014 and 2016 Riibit and Redpoint Ventures were the two most active Silicon Valley investors in Brazilian companies.[6]

The firm also invested directly in bitcoin. In 2014, Ribbit, in concert with Social + Capital Partnership, was reported to control 5% of all bitcoins.[4][7] Aside from direct investments in bitcoin, Ribbit has financed five bitcoin companies.[7]

Ribbit raised three funds between 2012 and 2015,[3] including a $100 million fund in 2013,[8] a $125 million fund in 2014[9] and a $226 million fund in 2015.[3]

Ribbit's investors include SVB Capital, Silicon Valley Bank's fund of funds group; Sequoia Heritage; Spanish banking group Banco Bilbao Vizcaya Argentaria S.A.[5] and Iconiq Capital, a wealth management group whose clients include Mark Zuckerberg of Facebook and Reid Hoffman of LinkedIn. Individual investors include David Lawee of Google Capital and Sheryl Sandberg of Facebook.[3]

References

  1. ^ a b McBride, Sarah (22 June 2013). "Ribbit Capital raises $100 million finance-focused fund". Reuters. Retrieved 2016.
  2. ^ Rizzo, Pete (30 January 2015). "Ribbit Capital's Micky Malka Talks Bitcoin's Slow Road to Mainstream". CoinDesk. Retrieved 2016.
  3. ^ a b c d e f g h Sreeharsha, Vinod (10 September 2015). "A Venezuelan in Silicon Valley Finds a Niche in Finance". New York Times. Retrieved 2016.
  4. ^ a b c Saitto, Serena (28 February 2014). "Bitcoin Bull Holds Firm as Mt. Gox Drags Down Currency". Bloomberg L.P. Retrieved 2016.
  5. ^ a b Cheredar, Tom (22 January 2013). "Ribbit Capital lands $100M fund for finance-focused startups". Venture Beat. Retrieved 2016.
  6. ^ Sreeharsha, Vinod (December 7, 2016). "DST Global Leads $80 Million Private Investment in Nubank". The New York Times.
  7. ^ a b Kirby, Carrie (31 March 2014). "'Micky' Malka on How Bitcoin Can Help the World's Unbanked". Coindesk. Retrieved 2016.
  8. ^ Duryee, Tricia (22 January 2013). "Ribbit Capital Raises $100 Million With the Goal of Modernizing Money". All Things D. Retrieved 2016.
  9. ^ O'Neil, Lorena (27 August 2013). "ONE VENEZUELAN'S PLAN TO REINVENT U.S. FINANCIAL SERVICES". Ozy. Retrieved 2016.


External links


  This article uses material from the Wikipedia page available here. It is released under the Creative Commons Attribution-Share-Alike License 3.0.

Ribbit_Capital_(company)
 



 

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