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Michael Gilroy, former head of fintech investments at Kuato, and Gokul Rajaram, a longtime technology executive and prolific angel investor, are forming a yet-to-be-named venture firm and plan to start raising money around $400 million to $500 million for the first time. Financing early next year Bloomberg reported.
The company will invest in fintech and software startups in the United States.
While at Kuato, Gilroy invested in fintech companies, including Arta Finance, Melio Solution, Pinwheel and Mercury. Before joining the hedge fund in 2019, he spent more than five years as a partner at Canaan. According to PitchBook data, Rajaram has backed more than 285 startups, including companies for which he serves as a board member: Coinbase, Pinterest, and Trade Desk.
Gilroy isn’t the only former Quato investor planning to launch his own company.
The Wall Street Journal reported Last week, Chris Fredrickson, an investor on the growth team at Coato, aimed to raise about $150 million for the first fund of his new company, Verified Capital.
Fredriksson left Coato in 2022, according to his LinkedIn profile. At Coatue, he was the lead partner on investments in Chainalogy, Instacart and Root Insurance, according to PitchBook data.
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