News Summary

Better Tomorrow Ventures (BTV), co-founded by Sheel Mohnot and Jake Gibson, has successfully closed a $140 million third fund, reflecting continued confidence in fintech’s potential. Despite a more tempered enthusiasm for fintech compared to previous years, BTV remains optimistic about the sector’s growth, particularly in areas like accounting and AI applications. The firm plans to invest in 30 to 35 companies, with check sizes ranging from $500,000 to $3.5 million. BTV’s portfolio already includes innovative startups like Basis, Layer, and InScope, which are harnessing AI to address the accounting industry’s labor shortages. Other notable investments involve Coast, a payments platform for fleet drivers, and Unit, a banking-as-a-service startup.