Global financial institution ING has launched ING Ventures, a €300m fund aimed at investing in fintech companies.
ING Ventures will expand the existing portfolio of investments in the coming four years to accelerate the company’s pace of innovation and its Think Forward strategy.
The arm, which will build on the current 115 fintech strategic partnerships and investments globally, will be part of ING’s Chief Innovation Office and will be entirely funded internally by ING.
The fund will focus on startups and companies that already gained some market traction active in countries where ING has a presence or where ING has the intention to expand into.
Benoit Legrand, global head of Fintech, has been appointed CEO of ING Ventures.