QED Investors, a venture capital firm in Alexandria, Va., has closed two new funds to invest in fintech firms.
QED said in a press release that it has $650 million in capital commitments for Fund VIII, an early stage fund, and $275 million for Growth II, a growth-stage fund.
“We are excited, fortunate and privileged to be a steward of our investors’ capital,” Nigel Morris, QED’s managing partner and co-founder, said in the release.
“QED has been working intentionally to achieve what we believe is threshold scale in terms of capital, team, skills and brand globally,” Morris added. “We are proud to have a world-class team that combines proven operational DNA, experience through multiple economic cycles and the right decision-making frameworks for the current environment.”
Founded in 2007, QED has invested in more than 200 companies. Including the new funds, QED will have more than $4 billion under management.
QED led the Series A rounds for Credit Karma, Remitly and Nubank, along with the Series B for AvidXchange. It was among the first institutional investors in Greensky.