Key Takeaways
- Sector: Financial Services & Fintech, Technology Software & Gaming.
- Geography: United States.
Analysis
Gilgamesh Ventures, a New York-based venture capital firm specializing in fintech, has successfully closed its second fund, raising $20 million to invest in early-stage financial technology startups across the Americas.
Founded in 2021 by Miguel Armaza and Andrew Endicott, Gilgamesh Ventures has rapidly established itself as a key player in the fintech investment landscape. The firm’s inaugural fund, launched with approximately $10 million, built a portfolio of 44 companies across 10 global markets.
Fund II will increase typical initial check sizes to between $400,000 and $600,000, compared to $150,000–$250,000 in the first fund. Gilgamesh continues to co-invest alongside larger venture capital funds, maintaining its non-lead strategy in investment rounds.
Some notable fintech startups in its portfolio include:
- Baselayer: Business identity verification
- Nexu: Auto point-of-sale provider in Mexico
- Xepelin: SME financing platform in Mexico
- Cayena: Restaurant procurement platform in Brazil
A third of Gilgamesh’s investments are in New York, with the rest across Brazil, Mexico, and the Philippines. The firm emphasizes backing AI-native startups that can scale with lean teams. About a third of Fund II’s companies reportedly reached over $5M in annual recurring revenue within 18 months.
Despite headwinds in the venture fundraising landscape, Gilgamesh Ventures retained nearly all its previous institutional investors for Fund II. Key limited partners include Foundation Capital, GBM Ventures, Encore Bank, and fintech pioneers like Renaud Laplanche (Upgrade) and Dan Henry (Green Dot).
With this new capital, Gilgamesh Ventures plans to continue empowering the next generation of fintech innovators across the Americas.