Rex Salisbury, a notable figure in the fintech investment landscape, has successfully raised $20 million for Cambrian Ventures’ second fund, marking a significant achievement amid a broader industry slowdown. His first fund focused on pre-seed and seed-stage startups. As a result, he was able to create a highly diverse portfolio of 33 companies, nearly half of which made it successfully through the Series A gauntlet. This remarkable track record speaks to his strategy of investing in the best possible founders that can deliver on their visions.
Salisbury’s journey into the fintech realm began in 2015 when he transitioned from investment banking to an engineering role at a mortgage startup in San Francisco. We believe that this uncommon combination of experiences is what sets him apart from the average fintech investor. He is passionate about finding new, undiscovered founders. His efforts have begun to pay off, evidenced by the remarkable 47% seed-to-Series A graduation rate of the companies he has funded compared to an industry average of just 15.4% according to Carta.
Salisbury is convinced that new technologies, particularly artificial intelligence (AI), are changing the rules of the fintech game. He asserts that “AI makes it easier to write more code that does more things,” enabling startups to innovate rapidly. He emphasizes that the biggest advantage of AI is its ability to “build multi-product companies from day one,” which allows for greater flexibility and scalability in today’s competitive environment.
Even with a popular belief that the fintech industry is outsaturated, Salisbury is hopeful. He points out that “only 1% of global financial services revenues has been captured by fintech,” indicating vast opportunities still available for savvy investors. He is passionate about finding the best founders in the world. His unwavering commitment to creativity and breakthrough products continues to inspire the industry.
Cambrian Ventures’ focus on collaboration and community is reflected through Salisbury’s efforts beyond fundraising. On the side, he operates a thriving Slack channel with more than 1,800 founders. On top of that, he’s produced a newsletter that has hooked more than 20,000 subscribers. These platforms accelerate engagement and cross-pollinate ideas, which come back to benefit the unique and diverse startups he invests in.
Salisbury aims to continue identifying founders who are “very good at executing against the vision they lay out.” He’s a true believer in the power of fintech. Fiercely independent, his goal is to cut smartly through market noise by backing high-integrity entrepreneurs with the fortitude to shake up their respective industries.
