Mouro Capital Raises $400 Million for New AI and Blockchain Fund, Led by Santander

Mouro Capital, an independent fintech-focused venture capital firm that spun out of Santander in 2020, has closed an initial fundraising round for its third fund, targeting $400 million. The fund will concentrate on investments in artificial intelligence (AI), blockchain technology, capital markets, and asset management, according to a report from Pathfinder.

Santander Leads the Round

Banco Santander, Europe’s largest bank by assets, acted as the lead investor in this initial close, continuing its long-standing role as an LP in Mouro’s funds. The new vehicle, Mouro Capital III, follows the firm’s previous funds, which have backed companies in payments, lending, and insurance technology. The focus on AI and blockchain reflects a broader trend of capital flowing toward technologies expected to reshape financial services over the next decade.

Focus Areas: AI, Blockchain, and Capital Markets

The fund’s stated focus on AI and blockchain is particularly notable given the current market climate. AI applications in finance range from fraud detection and risk management to algorithmic trading and personalized banking. Blockchain investments are expected to target infrastructure for digital assets, tokenization of real-world assets, and decentralized finance (DeFi) solutions that can operate within regulatory frameworks. The inclusion of capital markets and asset management suggests Mouro Capital is looking at technologies that can improve efficiency, transparency, and accessibility in these traditionally slower-to-innovate sectors.

Implications for the Fintech Landscape

This fundraising round underscores the sustained appetite for fintech investments, even amid broader market volatility. For startups, securing backing from a firm with Mouro’s track record provides not only capital but also strategic relationships across global financial markets. For the industry, it signals that institutional capital is actively placing bets on technologies expected to define the next decade of financial services. The $400 million fund size positions Mouro Capital as a significant player in the fintech VC space, capable of leading rounds and providing substantial follow-on support.

Conclusion

Mouro Capital’s $400 million Fund III represents a major commitment to the future of AI and blockchain in finance. As the fund progresses through its investment cycle, the market will watch closely to see which startups receive backing and how these technologies evolve within the regulatory and operational frameworks of global finance.

FAQs

Q1: What is Mouro Capital?

Mouro Capital is an independent venture capital firm focused on fintech and adjacent sectors globally. It spun out of Santander in 2020 and operates autonomously, with Santander participating as an LP.

Q2: What will the new $400 million fund invest in?

The fund will target companies working in artificial intelligence, blockchain technology, capital markets, and asset management. It aims to back early- to growth-stage fintech firms.

Q3: Why is the fund focused on AI and blockchain?

Mouro Capital views AI and blockchain as transformative technologies that can reshape financial services — from operational efficiency and new revenue models to customer experience. The fund’s thesis reflects where the firm believes the next wave of category-defining fintech companies will emerge.