London-based VC firm Mouro Capital announced the first close of its third fund, with €343.7 million ($400 million) secured from Banco Santander to back founders rewiring financial services through technology. This latest fundraising brings the global FinTech investor’s total investment commitments to over €859.3 million ($1 billion).
The firm plans to onboard additional investors to the platform for the first time in the near future. It has completed seven investments to date in the new fund, including ElevenLabs and Sakana AI.
Manuel Silva Martinez, General Partner at Mouro Capital, said, “Over the past decade we’re proud to have built a global platform delivering strong, consistent returns. With this fund, we’re excited to back the next generation of global founders rewiring financial services through the lens of AI, data and infrastructure. We see compelling opportunities in specialist thematic areas such as capital markets and wealth management, where untapped opportunities are benefiting from a positive momentum.
“In parallel, shifts in AI and blockchain are creating new opportunities in the Governance, Risk and Compliance (GRC) space, which is critical for future enterprise adoption of AI. Insurtech is another area that is massively underserved by venture and where we will likely double down our focus.”
Mouro Capital is an independently managed venture capital firm with an investment focus on financial services and technology. Since 2015, it has invested across North America, Europe and Latin America, typically from Seed to Series C. Across 26 exits, the firm reports generating an average 4x return on invested capital.
“This third fund puts that specialism to work at a moment when the pace of change rewards deep, hard-earned knowledge. A decade of specialist investing at the intersection of finance and technology has produced an average 4x return on invested capital across 26 exits and has historically placed us in the top decile of global VC managers, while our top ten portfolio companies have produced an average revenue growth CAGR of 97% over the last 5 years,” Mouro mentioned.
The firm has backed over 70 companies, with notable portfolio investments including Ripple, TrueLayer, Upgrade, Creditas, Klar, Sakana AI, Alinia and ElevenLabs. The firm reserves capital to continue backing their bets at a 66% follow-on rate. With over $1bn in commitments, Mouro claims to have generated historic returns in the top 10% of global venture capital managers. It is independently managed and regulated, and benefits from the continued backing of Banco Santander as its anchor limited partner.
Christopher Gottschalk, General Partner of Mouro Capital, commented, “Financial services and technology have been converging for years, AI has further accelerated the pace of change. We’re seeing the emergence of AI-native financial infrastructure—from real-time payments to programmable money movement, identity and data platforms. We are proud to back founders building businesses that are more efficient and scalable. Mouro Capital has built a strong track record by combining deep sector expertise with disciplined investing approach, internationally and across expanding industry boundaries.”
Mouro Capital is managed by General Partners Manuel Silva Martínez and Christopher Gottschalk, with teams located in London, Madrid, and San Francisco. The firm has recruited talent from Andreessen Horowitz, Deloitte, FT Partners, Illuminate Financial, as well as specialist funds like Sure Valley Ventures and Transition Capital. It is currently growing its team and plans to expand to 15 members by year’s end.
Read the orginal article: https://www.eu-startups.com/2026/05/london-based-mouro-capital-secures-e343-4-million-first-close-for-third-fund-backed-by-santander/
