The new funding brings total commitments at Propel Venture Partners, which was spun out of the Spanish bank in 20216, to more than $437m.
Propel Venture Partners, a seed stage venture capital firm that was spun off from Spanish bank BBVA, has closed a $100m fund, bringing its total commitments to more than $436m.
The Fund V will invest in fintech startups at the pre-seed and seed stages. It has already made five investments in the areas of financial planning and analysis, payment processing and energy infrastructure.
BBVA has been a limited partner in Propel Venture Partners since spinning out the unit in 2016. The VC firm has invested in 62 companies, including Coinbase, Docusign and Hippo.
