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Ten Coves Capital

USCAGBAUNZFintechB2B SaaSEnterpriseAI/ML

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Investment thesis

Ten Coves Capital is a growth equity firm with an exclusive focus on FinTech, backing high-growth B2B software companies that are "re-imagining, re-inventing and re-wiring the financial ecosystem." The firm invests across payments, banking & lending, asset management, capital markets, and insurance & benefits, targeting companies that solve industry pain points, enable workflows, and provide critical infrastructure to the largest financial institutions down to SMBs. Ten Coves combines flexible, patient capital with decades of focused experience and deep industry networks to help scale companies into durable, strategically significant businesses. Managing over $600 million in aggregate committed capital across three funds, the team has helped scale over 40 FinTech companies since its origins as the Napier Park growth equity team.

Notable quotes

We've been investing in FinTech before FinTech was a coined term, and today, leverage over two decades of experience and deep industry networks to help build leading, strategically significant companies.

Dan Kittredge · PR Newswire – Ten Coves Capital Closes Oversubscribed $293 Million Third Fund · 2022-01-19

We are particularly grateful for the commitment and continued support from our existing and new investors, which include corporate and public pension plans, endowments, fund-of-funds, insurance companies, family offices and a number of leading industry executives and advisors.

Steven Piaker · PR Newswire – Ten Coves Capital Closes Oversubscribed $293 Million Third Fund · 2022-01-19

We've had the privilege to get to know Ben and the team at Blue J for years, and we're thrilled to embark on this next chapter of our work with companies selling to and through accounting firms, including Bill, Canopy and MarginEdge. The platform provides significant workflow and productivity efficiencies for all types of end users. As the industry continues to demand better AI product capabilities, Blue J is well positioned to be the preferred partner and leading innovator.

Dan Kittredge · Business Wire – Blue J Secures Series C Investment from Ten Coves · 2024-01-01

Recent investments

CompanyRoundSizeDate
benefitbaySeries A$18m2026-05-22
CircitGrowth Equity$22m2026-02-10
AquilanceGrowth Equity$16m2026-01-13
Inbox HealthGrowth Equity$20m2025-09-15
BetterCompSeries A$33m2025-07-22
ProjectworksSeries A$12m2025-06-03
AlphaSenseSeries E$150m2024-01-01
MarginEdgeSeries C$44m2023-02-09
CanopySeries B$35m2022-01-01
SteelEyeSeries B$21m2022-01-01

Frequent co-investors

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