FTVentures, The San Francisco and New York venture capital firm that invests in companies serving the financial industry, has raised $465 million of a planned $600 million fund, according to SEC regulatory documents.
However, we’re hearing the firm may not be able to raise the total $600 million, and that is why partner Mark Lotke, a software specialist, has left. FT Ventures could not be immediately reached for comment.
The firm said Eric Byunn will now handle those investments.
Investors in the new fund so far include Liberty Mutual and RHM Pension Trust.