EXPLORINEER
en

Archive — US — techcrunch

Rex Salisbury’s Cambrian Ventures raises new fund, bucking fintech slowdown

Rex Salisbury's Cambrian Ventures has launched a new $20 million fund despite a fintech slowdown. He asserts that only a fraction of financial services revenue is captured by fintech. Salisbury's previous fund saw a strong seed-to-Series A conversion rate, and he continues to focus on unique startup ideas, leveraging advancements in AI to build multi-product companies.

Key points

  • Rex Salisbury launched Cambrian Ventures after working in fintech since 2015, acknowledging the sector's growth yet recognizing recent slowdowns due to rising interest rates.
  • Salisbury argues that there are still abundant opportunities in fintech, claiming that only 1% of global financial services revenue is dominated by fintech.
  • His first fund, with $20 million, successfully funded 33 startups, many securing Series A funding, unlike the average rate tracked at 15.4%. Companies include Simple Closures and Keep.
  • Cambrian's performance helped launch a second fund of $20 million, amidst historically low fundraising rates for new venture managers.
  • Salisbury's extensive network in fintech attracted strong founders and institutional backers for both funds.
  • His strategy hinges on identifying great founders with innovative product ideas, emphasizing AI's role in enabling startups to develop multi-product solutions from inception.

Why it matters

  • The fintech industry has faced a notable slowdown in investment, particularly highlighted in the first half of 2025, where emerging venture manager fundraising hit a decade low.
  • Significant advancements in AI are influencing startup strategies, allowing for lightweight development of multi-service platforms, as noted by trends in companies like Every.
  • Salisbury's experience at Andreessen Horowitz and community-building efforts reflect a broader trend of investors leveraging networks to support emerging fintech innovations.

Cambrian Ventures' new fund illustrates resilience in the fintech sector amidst challenges, showcasing the potential of AI to transform startups into multifaceted service providers and highlighting ongoing investment enthusiasm.