QED Quarterly – Issue 1, Autumn 2018
A note from Nigel Morris, Managing Partner
QED Investors partners, companies, and friends:
I’m excited to share our first QED Quarterly, a newsletter featuring news on QED Investors and our portfolio companies. Please encourage people you think would be interested to join our mailing list. We appreciate your support and interest and welcome suggestions for future editions.
Nigel and the QED team
QED raises its largest ever fund in 2018
In July of 2018, QED closed our fifth venture investment fund with $175 million in total commitments to invest in the US, UK, and Latam. This latest fund represents a major milestone, as it is both our largest fund to date and includes top-notch outside investors.
The new fund will allow us to continue to back amazing fintech companies and provide best-in-class investment returns. We were very fortunate to have had significantly more interest from outside investors than we could accommodate, but the QED team ultimately decided to cap the fund given we have a disciplined approach and strive to invest in only the best early stage fintech companies. Notably, the QED Partnership remains the largest single investor in QED Fund V.
With this new capital, we can get back to doing what we do best – finding the most promising fintech companies and helping them crack the code in their respective markets. There’s nothing more fun than helping talented founders scale their businesses and with the new capital we plan on doing exactly that.
Growing the investment team
In parallel with raising our largest fund to date, QED has also recently grown its investment team with three additions who started in September: Matt Burton, John Crenshaw, and Laura Bock.
Increased focus on building – QED Belay
QED has a long history of leaning into our portfolio companies to provide real help when times are good and more challenging. Over the past couple years more and more founding stage companies have partnered with QED that require significant up front capital and deep expertise across a very wide range of topics (marketing, sales, technology, data science, operations, regulation, risk, compliance, strategic partnerships, and capital markets). QED Belay is structured to help founders navigate these challenges by tapping into QED’s deep operational experience. Our QED Belay portfolio includes ClearScore, MotoRefi, WageStream, Lingua Franca, InsurTech Connect, and RegTech Enable. If you are interested in learning more please reach out to Matt Burton.
10 new companies join QED in 2018!
Through the first 3 quarters of 2018, QED has welcomed 10 new companies to the portfolio! These investments show the breadth of the Fintech categories as well as the geographic range of our investment. We are thrilled to have them on board!
QED and its companies in the news
Nubank, in which QED invested in 2014, valued at $4B after Tencent investment – Congratulations to David and team for reaching this milestone!
12 QED portfolio companies named to CB Insights’ Fintech 250 list of the most promising financial services start-ups: Shout outs to AvidXchange, blooom, CircleUp, Credit Karma, Creditas, Flywire, Klarna, LendUp, Nubank, Roofstock, Signifyd, and SoFi!
Insurtech Connect conference, cofounded by QED, welcomes more than 6,000 attendees in early October! Congratulations to Caribou and Jay on their success.
While at Insurtech Connect, Credit Karma announced it is entering auto insurance. It’s been exciting to see this company grow since we led the Series A in 2009!
Earlier this year, Experian announced its intention to acquire ClearScore, a company QED co-founded, for £275MM.