Fiat Ventures has merged its growth consultancy with its venture division under a new brand, FGV Capital. Alongside this move, the firm has launched Fund II with $35 million, focusing on fintech’s intersection with AI, healthcare, and commerce.

The general partners, Marcos Fernandez and Drew Glover, explain that this integration will provide founders with more exposure through access to their extensive network of industry executives. They stress that despite operating as separate entities, clear processes are in place to prevent bias in investment decisions.

FGV’s second fund aims for a diverse mix of limited partners (LPs) who can offer more than just capital. This includes business guidance and partnership opportunities. The firm has already backed 13 companies so far, with plans to invest $1 million to $1.5 million into at least 25 over two years.

The founders believe their full-stack model will attract more LPs and startups, leading to better returns. Fernandez highlights how this ecosystem can create value for all parts of the business while maintaining independence.