The Journey of Rex Salisbury: A Passion for Fintech and Venture Capital
Discovering a Love for Fintech
In 2015, Rex Salisbury, the Solo GP behind Cambrian Ventures, dove headfirst into the Fintech world. Leaving his investment banking career, Salisbury joined a mortgage startup in San Francisco, amidst a wave of emerging companies like Stripe and Plaid.
The Rise and Fall of Fintech Excitement
The subsequent years saw a tremendous growth in investor excitement for Fintech, peaking dramatically in 2021. However, with rising interest rates in the following year, many perceived a slowdown in the sector. Despite this sentiment, Salisbury maintains a firm belief that Fintech’s potential remains largely untapped.
An Endless Well of Opportunities
Contrary to popular belief that many Fintech opportunities have been exhausted, Salisbury argues that the sector is still ripe for innovation. “Only 1% of the revenues of global financial services have been captured by Fintech,” he states, highlighting the vast space for growth still ahead.
A Record of Success with Early Investments
In his inaugural $20 million fund, Salisbury has invested in 33 companies, with nearly half achieving Series A funding—far surpassing the average 15.4% success rate for seed to Series A transitions. Notable companies include Simple Closures, assisting startups in winding down, and Keep, a Canadian payment platform.
Building a Strong Network
Rex’s success can be attributed to his knack for identifying exceptional founders with clear visions. Before Cambrian, he was a founding member of the Fintech practice at Andreessen Horowitz (A16z), investing in transformative startups like Deel, which rapidly scaled in the payroll tool and HR space.
New Horizons with AI Technology
As Salisbury launches his second fund, also with $20 million in committed capital, he maintains his sharp focus on seeking out innovative founders. He emphasizes the significant impact of AI in the startup landscape: “AI facilitates the writing of more code that does more things,” indicating a new wave of multifaceted companies emerging in the Fintech space.
A Bright Future for Cambrian Ventures
With a lobby of LPs including founders from major companies like Nerdwallet and Better, Salisbury’s second fund also welcomes institutional investors. As Cambrian Ventures expands, its mission remains clear: to unearth groundbreaking ideas that can redefine the Fintech landscape.