Restive Ventures closes major $45 million fund in San Francisco as partners Ryan Falvey Cameron Peake and Tyler Griffin supercharge AI finance startups

San Francisco-based early-stage investor Restive Ventures has wrapped up its third investment vehicle, closing Restive Fund III at $45 million.

The new fund continues the firm’s focus on backing startups building the next generation of AI-driven financial infrastructure.

Unlike broad-market venture funds, Restive stays tightly focused on companies reshaping how money moves, how risk is assessed, and how financial systems operate when powered by automation and machine intelligence.

A Strong Base of Returning and New Investors

The latest fund drew support from a mix of long-time backers and new institutional players.

That group includes endowments, global asset managers, and strategic partners from industries like banking, insurance, payments, and technology.

This combination reflects growing interest from traditional financial institutions in startups building AI-native systems—especially those that can streamline operations or reduce reliance on human-heavy workflows.

Betting Early on AI-Native Financial Infrastructure

At the core of Fund III is a clear investment thesis: backing companies that are “AI-native” from day one.

That means startups designed around artificial intelligence at the foundation, rather than adding AI as an afterthought.

Restive Ventures is particularly focused on areas like:

• Agentic payment systems that can initiate and manage transactions autonomously
• AI-powered underwriting tools that evaluate risk with minimal human input
• Financial operations software that automates back-office processes end-to-end

The firm typically writes its first check at the earliest stages, often before a product is fully built or publicly launched.

Leadership Behind the Strategy

The firm is led by Co-Founders and Managing Partners Ryan Falvey and Tyler Griffin, along with Partner Cameron Peake.

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Together, they position Restive as a hands-on investor that not only provides capital but also operational guidance and access to a curated network of financial and technology experts.

Their approach is heavily founder-facing—working closely with startups during the fragile early stages when product direction, hiring, and go-to-market strategy are still forming.

Track Record Driving Confidence

Fund III builds on earlier performance that has helped establish credibility in a competitive venture landscape.

Restive’s 2019 Fund I is reportedly marked at 6.3x returns, while its 2021 Fund II stands at around 4x.

One of its Fund III portfolio companies, Hiro, recently drew attention after being acquired by OpenAI just three months after emerging from stealth mode.

Deals like this have reinforced the firm’s reputation for spotting high-potential startups early.

Impact and Consequences

The closing of Fund III signals continued momentum in AI-focused financial technology investing.

As banks and insurers face pressure to modernize, venture firms like Restive are positioning themselves as key early gatekeepers to the next wave of infrastructure startups.

It also highlights a broader shift: institutional investors are increasingly willing to back venture funds that specialize in narrow, high-conviction themes like AI in finance rather than generalist strategies.

For founders, this kind of focused capital can mean faster validation cycles, deeper industry access, and more tailored operational support—but also higher expectations for technical differentiation from day one.

What’s Next?

With Fund III now active, Restive Ventures is expected to continue deploying capital into very early-stage startups across AI-powered financial services.

The next phase will likely involve:

• More pre-seed and seed investments in AI-native fintech tools
• Expansion of partnerships with banks and payment companies
• Deeper integration between portfolio startups and enterprise financial systems
• Potential follow-on investments in breakout companies from earlier funds

The firm’s ability to maintain strong returns will depend on whether AI-first financial infrastructure becomes as transformative as its thesis suggests.

Summary

Restive Ventures has closed a $45 million third fund focused entirely on early-stage AI-driven financial services companies.

Backed by a mix of returning investors and institutional partners, the fund strengthens its strategy of investing early in startups building autonomous systems for payments, underwriting, and financial operations.

Led by Ryan Falvey, Tyler Griffin, and Cameron Peake, the firm continues its concentrated, hands-on approach with a strong historical track record of returns.

Bulleted Takeaways

• Restive Ventures closed its third fund at $45 million
• Focus remains on AI-native financial services startups
• Fund backed by endowments, asset managers, and industry partners
• Strategy centers on early-stage “first-check” investing
• Key areas: agentic payments, AI underwriting, automated finance ops
• Leadership includes Ryan Falvey, Tyler Griffin, and Cameron Peake
• Earlier funds show strong returns: 6.3x (Fund I), 4x (Fund II)
• Portfolio highlight: Hiro acquired by OpenAI after stealth exit
• Signals growing institutional appetite for AI-focused venture strategies