UBS Plans to Invest $200 Million in Fintech Startups
- Targets primarily equity investments in early-stage fintech
- Bank also starts collaboration with Anthemis venture fund
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UBS Group AG plans to invest $200 million of its own money in fintech companies over the medium term in a push to further digitize its services and find new ways to engage with clients.
The portfolio, called UBS Next, will be run by a dedicated team and take mostly direct stakes in early-stage fintech and other relevant technology companies, the bank said Tuesday from Zurich. As part of the project, UBS started a strategic collaboration with Anthemis, a venture capital firm that will help the Swiss wealth manager source deals.