Mode VC
Utah

Next Billion Ventures

Next Billion Ventures, based in Utah, backs fintech and healthtech startups at Series B, typically leading rounds, with notable investments like Kredivo and Alice.

Website LinkedInPortfolioPitch pageTeam page
Entry stageSeries B
Check sizen/a
Leads roundsYes
FocusFintech, Healthtech
Latest fundn/a
Investing team6 peopleNo activity since Sep

Who you would pitch at Next Billion Ventures

6 people on the investing team, 4 of them partners who can make the call. Partners are listed first.

Kentaro Toyoda
Kentaro ToyodaManaging PartnerHe previously worked as an investment officer at IFC.
Ruzgar Barisik
Ruzgar BarisikManaging PartnerHe previously served as a Principal at IFC focusing on emerging markets private equity.
Falgu Shah
Falgu ShahPartnerHe specializes in the technology sector and has experience scaling growth-stage companies.
Volodymyr Tsapko
Volodymyr TsapkoPartnerHe focuses on investing in global emerging markets.
Eduard Melli
Eduard MelliVice PresidentHe has over 10 years of experience in growth equity and impact investing.
Jamie Muller
Jamie MullerAssociate

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Check size not reported yet.

Bars: how many firms in the atlas report each band. Highlighted: this firm.

No recent activity since September 2026. Quiet does not mean closed.

Weekly count of activity updates. Activity is not a confirmed deal.

Notable investments

KredivoQoalaAliceTrellaAbhiBazaar TechnologiesCliviGaji GesaMinuSprout Solutions

In their words

Home - Next Billion CapitalInvestor Login Growth equity for proven, tech-driven businesses in emerging markets Backing category leaders across Southeast Asia, Latin America, and Africa Our Approachnextbillion.capital
Founders and investors at a Mode VC gathering

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Firms like Next Billion Ventures

Cathay Innovation$3M to $30M+ · active Sep 27
MassMutual Ventures$1M to $10M · active Oct 8
645 Ventures$1M to $30M
Allianz Life Ventures$1M to $10M
B Capital Group$1M to $30M+
Canvas Prime$3M to $30M

On these lists

Series B investors in United States563Series B healthtech investors128Series B fintech investors74Series B investors in Utah14Series B investors604

Questions

What stage does Next Billion Ventures invest in?

Next Billion Ventures reports entry at series b.

How much does Next Billion Ventures invest?

Next Billion Ventures has not reported a check size.

Does Next Billion Ventures lead rounds?

Yes. Next Billion Ventures says it can lead.

Who are the partners at Next Billion Ventures?

Kentaro Toyoda (Managing Partner), Ruzgar Barisik (Managing Partner), Falgu Shah (Partner), Volodymyr Tsapko (Partner).

Is Next Billion Ventures active right now?

No recent activity since September 2026.

Work at Next Billion Ventures? Claim or correct this profile.