Goldman Tops Banks Betting on a New Type of Hedging
- Goldman has bet on 15 fintech ventures this year, report shows
- JPMorgan ranks second among banks with nine investments
Goldman Sachs Group Inc. has taken to investing large sums of money into outside ventures in a bid to disrupt the financial industry. Bloomberg's Jason Kelly reports on 'Bloomberg Surveillance.' (Source: Bloomberg)
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A new type of hedging is sweeping Wall Street this year.
Goldman Sachs Group Inc. and JPMorgan Chase & Co. are leading big banks in plowing record funds into outside ventures trying to disrupt their industry, a role typically dominated by venture capital firms, according to a report from Opimas, a management consultancy.