As we anticipated some week ago here, commercial bank UniCredit has partnered with Anthemis Group, a financial services technology venture and advisory firm, to create a new joint investment venture.
UniCredit evo (equity venture opportunities) focuses exclusively on identifying and investing in fintech companies. With an initial capital commitment of €200m from UniCredit, the initiative will target mid stage startups and follow-on investments in more mature and established FinTech businesses, as well as early stage digitally native financial services startups working on more pioneering solutions.
The partnership with Anthemis aims to help UniCredit accelerate the digitalization of its banking group by collaborating with emerging players within the FinTech ecosystem and exploring, sustaining and developing technologies and solutions.
The partnership will cover the entire lifecycle of emerging FinTech companies, with a primary focus on Europe and North America spanning across the early startup idea stage to maturity and apply to different fields of retail banking and consumer finance, investment and corporate banking, wealth and asset management, capital markets and trading, payments and financial data, technology and infrastructure.
UniCredit evo will be supervised and managed by a Management Board comprised of UniCredit and Anthemis representatives working together to identify the most relevant areas of focus, and an Investment Committee, including representatives from both firms responsible for sourcing, evaluating and finalizing investment opportunities.
The venture will be led by UniCredit’s innovation team, under Chief Operating Officer and Deputy General Manager Paolo Fiorentino and Nadeem Shaikh, Founder and CEO of Anthemis Group.
FinSMEs
23/03/2016