According to Bloomberg, British venture capital firm Illuminate Financial raised $235 million for its third fund, with participation from Bank of New York Mellon Corp., Euroclear, JPMorgan Chase & Co., Barclays Plc and Jefferies Financial Group Inc.

It is reported that this fund is currently the largest fund under Illuminate Financial and will invest in start-up companies that provide technical services to financial institutions. CB Insights data shows that financial technology companies raised US$15 billion in the first three months of 2023, a decrease of approximately 50% from the same period last year.

It is understood that Illuminate has also invested in several crypto companies, including digital asset market infrastructure companies Copper, Blockdaemon, Baton Systems and institutional staking platform Kiln.