Illuminate Financial, a global venture capital investor serving early-stage FinTech and enterprise software firms, has secured strategic investment from American banking giant Citi.

The deal makes Citi a limited partner in Illuminate Financial’s venture capital approach.

Apart from, Illuminate Financial is backed by other financial giants including Jefferies, J P Morgan, Deutsche Börse Group and S&P Global.

The investors constitute a group of global financial institutions, which are set to further enhance Illuminate Financial’s domain offerings and industry network.

So far, Citi bank has co-invested in eight portfolio companies manged by Illuminate Financial. They are Arteria AI, TransFicc, CloudMargin, Privitar, Genesis Global, Talos, Cosaic, and Blockdaemon.

Citi digital head and Institutional Clients Group chief investment officer Sandeep Arora said: “Citi has a strong track-record of partnering with FinTechs to build digital solutions for our clients and believe this strategic investment will provide earlier visibility into new technologies and complement our direct investing programme.”

The bank’s Institutional Clients Group currently operates a financial network that cater to various corporations, financial institutions and governments across the globe.

The group operates from branches in 95 countries.

Illuminate Financial founder and managing partner Mark Beeston said: “Citi has been an aggressive adopter of the innovative solutions offered by fintechs and an active direct investor in 25% of our portfolio companies since we launched Illuminate’s first fund in 2015.

“We are delighted to now add Citi to our roster of strategic investors, helping further catalyse enterprise FinTech adoption to the benefit of the whole eco-system.”

So far, Illuminate Financial has invested in over 30 companies that provide various services such as digital assets infrastructure, enterprise solutions, among others.