Blythe Masters-Led FNZ Secures Second Cash Injection in One Year

Digital wealth management platform FNZ Group Ltd. has raised $650 million in new equity funding from its institutional shareholders, its second cash injection from major global investors this year.

All existing institutional shareholders — Caisse de Depot et Placement du Quebec, Singapore’s Temasek Holdings Pte, Canada Pension Plan Investment Board, Al Gore’s Generation Investment Management and private equity firm Motive Partners — participated in proportion to their ownership, Chief Executive Officer Blythe Masters said in an interview.

Like a previous round in the spring, the fundraising didn’t establish a valuation for FNZ. It was last valued ...