Fiat Ventures has merged its growth consultancy and venture divisions under a new brand, FGV Capital, alongside the launch of its second fund, a $35 million vehicle. General partners Marcos Fernandez and Drew Glover explained the rebrand aims to support founders with go-to-market strategies by combining advisory expertise with investment capabilities.

Under the Fiat Growth moniker, the consultancy previously helped startups scale and access a network of industry executives. Glover noted the integration has already improved the firm’s appeal to startups, who recognize the value of accessing both funding and advisory services. Despite the merger, both entities will operate independently with clear processes to prevent conflicts of interest.

Fund II targets fintech intersections with AI, healthcare, and commerce, taking 18 months to raise. Limited partners include Reinsurance Group of America, Mass Mutual, and Bank of America. FGV plans to invest $1 million to $1.5 million in at least 25 companies over two years, having already backed 13. The firm has previously raised a $25 million first fund and supported around 40 companies, including Wagmo and Possible Finance.

The full-stack model allows portfolio companies to become advisory clients and vice versa, creating a self-reinforcing ecosystem. Fernandez emphasized that capital, distribution, and relationships compound to benefit founders and investors alike.