Venture Capital · Profile from Venture Capital Research Companion
QED Investors
The Alexandria, Virginia fintech specialist founded by Capital One co-founder Nigel Morris, which brings Capital One's data-driven credit and marketing discipline to early-stage fintech and has built one of the strongest records in the sector, from Credit Karma and Nubank to SoFi, Klarna, Remitly, Flywire and a deep Latin American portfolio.
At a glance
- Founded
- 2007, Alexandria, Virginia (Washington, D.C. area)
- Founders
- Nigel Morris and Frank Rotman, with Caribou Honig (named as a co-founder in QED's 2025 release)
- Headquarters
- Alexandria, Virginia; team members in London, São Paulo, Mexico City and India / Southeast Asia (reported)
- Ownership / structure
- Private partnership; SEC-registered adviser
- Leadership (2026)
- Nigel Morris (co-founder and managing partner); Bill Cilluffo (partner; oversees early-stage investing); Amias Gerety (partner; leads the US investment team from 2025); Mike Packer (partner, head of Latin America); Frank Rotman became partner emeritus at the end of 2025
- AUM / capital raised
- ~$4bn AUM (2025, reported); Fund VI $350m (2020); Fund VII $1.05bn (2021: $550m early + $500m growth); Fund VIII $650m and Growth II $275m (2023)
- Stage focus
- Seed to Series B as the core, with a growth fund for follow-ons and selective new growth investments; fintech only; US, UK, Latin America, and more recently India / Southeast Asia and Africa
- Signature investments
- Credit Karma, Nubank, SoFi, Klarna, GreenSky, Remitly, Flywire, AvidXchange, ClearScore, Creditas, QuintoAndar, Konfio, Bitso, Kavak, Mission Lane, Wayflyer; failures and disappointments: Avant, LendUp (reported investor), 2021-vintage LatAm proptech and auto marks
8 deals and moves analysed
Each one gets a full strategy file in the companion: context, the decision, the financing, what happened, and the lesson.
2009
Credit Karma
Series A
2012
SoFi
Early-Stage Investment
2013
Avant
Early-Stage Investment
2014
Nubank
Series A
2015
ClearScore
Early-Stage Investment
2016
Creditas
Early-Stage Investment
2018
Mission Lane
Spin-Out Financing
2020
Bitso
Series B