Rex Salisbury’s Cambrian Ventures raises new fund, bucking fintech slowdown

Rex Salisbury, the solo GP behind Cambrian Ventures, fondly remembers the time he fell in love with fintech.

The yr was 2015; he had lately left his job as an funding banker to strive his hand at engineering at a mortgage startup in San Francisco. “That’s once you had firms like Stripe, Plaid, Credit score Karma, Wealthfront beginning to scale,” he advised TechCrunch. “Lending Membership had simply performed their IPO, and was buying and selling very well.”

Traders’ pleasure for fintech grew exponentially within the following years, reaching a fever pitch in 2021. Issues calmed down noticeably a yr later, nonetheless, as rates of interest rose.

Right this moment, many assume fintech has misplaced its luster, however Salisbury’s enthusiasm for the class stays as robust because it did in 2015. He feels the favored opinion that almost all alternatives in fintech have been exhausted couldn’t be farther from the reality. “For those who’re a specialist and you already know the place to look, you’ll understand that just one% of worldwide monetary providers revenues has been captured by fintech,” he stated.

Certainly, Salisbury has been busy investing in pre-seed and seed-stage startups from Cambrian’s inaugural $20 million fund. Of the 33 firms he has funded, Salisbury claims about half have already secured Collection A funding, significantly increased than the 15.4% seed-to-Collection A commencement charge tracked by Carta.

These firms embrace Easy Closures, which helps startups shut store, and Preserve, a Canadian bank card and funds platform.  

Salisbury credit the primary fund’s efficiency along with his means to search out robust founders “who’re excellent at executing in opposition to the imaginative and prescient they lay out.”

That early success has now helped Salisbury safe a second fund, which is launching with $20 million in dedicated capital.

The haul is a exceptional feat for a small enterprise fund like Cambrian: A report by PitchBook confirmed that fundraising by rising enterprise managers (outlined as corporations nonetheless working their first three funds) hit a decade low within the first half of 2025.

Salisbury isn’t simply one other fintech investor, nonetheless. Earlier than launching Cambrian Ventures, he was the founding member of Andreessen Horowitz’s (a16z) fintech follow. And through his a number of years on the distinguished agency, he invested in a startup referred to as Deel, which might go on to grow to be an enormous within the payroll and human useful resource instruments house.

Previous to becoming a member of a16z, Salisbury based a fintech neighborhood that hosted month-to-month meetups for founders, builders, and sector lovers. He additionally launched a e-newsletter that soared to about 20,000 subscribers, and runs a Slack group that now boasts over 1,800 founders.

Due to his well-regarded community, Salisbury attracted founders from prime fintech firms like NerdWallet, Plaid, Betterment, and Melio as LPs for his first fund. These people returned to put money into his second fund, which additionally noticed the addition of a number of institutional backers, together with a financial institution and a life insurance coverage agency.

Salisbury says his technique stays unchanged for Cambrian’s second fund, explaining that he’s nonetheless targeted on “discovering nice founders who’ve new concepts for distinctive merchandise.”

In fact, what’s totally different now’s that startups can leverage all of the developments in AI. “The largest factor AI enables you to do is construct multi-product firms from day one,” he stated.

“AI makes it simpler to write down extra code that does extra issues,” he defined, pointing to his funding in Each. “They do banking, accounting, finance, company tax, treasury, HR, HSA, FSA, and some different issues, multi function.”