SIX FinTech Ventures invests in Vestr and Shift Cryptosecurity
SIX FinTech Ventures, the CHF 50 million ($49.5 million) corporate venture fund of SIX, has invested in its first two start-ups, Vestr and Shift Cryptosecurity.
Vestr helps with life-cycle management via actively managed certificates, an “alternative” to investment funds. Founded by traders and quants, the firm graduated from the F10 accelerator programme in 2017 and is working with unnamed tier-one banks.
Founded in 2015 as a spinoff of the ETH Zurich university, Shift Cryptosecurity provides crypto engineering by building hardware and software-based security solutions for cryptocurrencies and blockchains. Its flagship product, the BitBox, has customers in over 100 countries.
Andreas Iten, head of SIX FinTech Ventures, says: “Our investment focus covers all relevant financial industry segments and emerging technologies, which will propel the actors in the Swiss Financial Centre to the forefront of fintech.
“As a neutral corporate fintech investor with close connections to Swiss and global financial institutions, we have the tools and resources needed to support ambitious entrepreneurs and their unicorns to be.”
Financial details about how much each firm received were not disclosed.