Ruth Foxe Blader bids adieu to her role as a partner at Anthemis Group after an impressive tenure of nearly seven years to embark on her entrepreneurial journey with Foxe Capital, an exclusive revelation gathered today.
Joining her in this new endeavor is Kyle Perez, a former investment associate at Anthemis. Sophie Winwood stands as the operating partner, previously co-founding WVC:E, a global initiative advocating for inclusion and empowerment within the VC sphere, alongside Blader.
Blader, overseeing investments in over 50 fintech startups including notable names like Lemonade, Branch, and Elevate, asserts that her desire to independently invest catalyzed her departure from the London-based Anthemis. Her foray into this arena became palpable after co-founding WVC:E in April 2022.
Foxe Capital will continue its investment journey under the aegis of Anthemis, serving as a sub-advisor while managing the fund initially launched in 2017. Following the deployment of the capital—estimated to conclude this year—Foxe Capital will pivot towards fundraising activities. The firm is currently being remunerated for steering the fund on behalf of Anthemis.
Anthemis maintains an economic interest in the fund but refrains from holding any stake in the management entity. Their ongoing interest in Foxe Capital is contingent upon their choice to partake as a limited partner during the firm’s fundraising phase.
Addressing the geographical aspect, while Blader currently divides her time between France and New York (with a 15-year stint in Europe/New York), Foxe Capital finds its headquarters in New York City. It pledges global investments, centering on the U.S. as its primary market. Blader iterates, “We have significant exposure outside the U.S., particularly in Europe, India, Cameroon, and LatAm, embracing opportunistic global investment prospects.”
Anthemis encountered a series of transitions and challenges recently. Last April, a restructuring initiative led to the departure of 16 employees (28% of the staff), aligned with adapting to dynamic market conditions. Moreover, the firm faced hurdles in fundraising, struggling to secure commitments for a third fund and ultimately abandoning plans for a SPAC.
The past 18 months witnessed portfolio companies facing setbacks. Instances include the abrupt departure of Pipe’s co-founders and the subsequent shutdown of LGBTQ+-focused digital bank Daylight amidst legal controversies.
Blader’s move mirrors a growing trend within fintech-focused investors venturing into independent ventures. Peter Ackerson, leaving fintech-focused Fin Capital, co-founded Audere Capital, echoing a similar trajectory.
