Illuminate Financial Management LLP (IFM) has today announced that the founding partners of Capsicum Private Office LLP (Capsicum), the UK based Family Office representing the Chilton family, have taken a stake in Illuminate Financial Management LLP. Capsicum will also invest in IFM’s FinTech Opportunities Fund (FinTech Fund) which is now in its initial fundraising.
“IFM is delighted to welcome Rupert Swallow and Grahame Chilton of Capsicum as both business partners and investors” said Mark Beeston, CEO and Founder of IFM. “Their decision to invest in both our company and our Capital Markets FinTech Opportunities Fund represents the strongest validation of the unique IFM offering”.
Under the terms of the investment in IFM, Rupert Swallow of Capsicum has taken a Management Board seat and joined the Investment Committee of the General Partners to the FinTech Fund.
Rupert Swallow said: “I am very excited to have joined the Management Board of IFM. They are addressing the financial industry’s key business operating challenges of today: cost reduction, greater control, capital constraints and stricter compliance. They have already demonstrated a unique ability to identify, invest in and implement innovative technology solutions helping financial institutions addressing these challenges”.
Grahame Chilton, Founding Partner of Capsicum said: “IFM is a firm with a thorough understanding of all the stakeholders in the enterprise financial technology space: entrepreneur, early stage vendor, operating partner and investor. Partnering with IFM is a natural extension of Capsicum’s investment approach which is to challenge existing business models”.