UBS launches fintech investment portfolio UBS Next with $200m to burn
Swiss multinational investment bank UBS has launched a fintech investment portfolio worth $200 million.
UBS Next will target “investments in the fintech and broader tech ecosystem”. It will also seek out partnerships with regulators, peer banks, and academia.
It’s first collaboration is with Anthemis, a global venture capital fund with a focus in fintech investing.
UBS says its new venture allows it to “further strengthen connections to the fintech ecosystem”. It adds that UBS Next ensures “closer strategic alignment” with partners.
UBS Next draws its funds entirely from UBS. A venture investment team with “market-proven capital expertise” is running the show.
Sabine Keller-Busse, UBS group chief operating officer, says connecting to fintechs “has always been key to remaining at the forefront of the digital movement.”
In May it was reported the Swiss bank wanted to set up a new corporate venture fund. Bloomberg reported that UBS could make investment of between $10 million and $20 million in fintechs on its radar.
“UBS Next is a further step to accelerate our innovation efforts as well as to identify and apply the latest technology for our client businesses,” says Mike Dargan, head of group technology, UBS.
“With our investments through close collaboration with Anthemis, we widen our access to fintech start-ups.”